Mixing accounting methods in financial statement preparation

[Mari2003]

Hi
I recently joined a provincial government agency in Edmonton Alberta, and I have been told the following:

"monthly financial statements are prepared on a cash-basis, but be mindful that the year-end financial statements are prepared on an accrual-basis". Is this possible?

 

[Steve-LevelUp]

I know that government reporting doesn't necessarily follow standard GAAP rules. Although I've never worked in government, I have heard that cash accounting is something that is done. EG, spending $100M to build a bridge is fully expensed and not capitalized...Governments have little accountability to its members (citizens)

 

[Fidget]

Sounds odd. It's usually one or the other. Government here (UK) used to do cash accounting, but went over to 'resource' accounting - aka accrual accounting, some years ago now. Having worked in both government and private sectors, I've never known there to be a mix of the two going on at the same time.