The government has, for a long time, used accrual accounting for amounts payable. When a contractor does work for the government or where an asset is acquired, the amount due must be recorded, whether it is paid or not.
Auditor General, Office of the Auditor General of Canada
The government has, for a long time, used accrual accounting for amounts payable. When a contractor does work for the government or where an asset is acquired, the amount due must be recorded, whether it is paid or not.
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