EFSA annual accounts 2004 

Although often oriented towards the registration of expenditure and revenue, Publica Accounting practices may in future become a powerful management tool, capable of enhancing the visibility, transparency and comprehension financial status. The review of the European Communities Financial Regulation, has forced us to change from cash basis accounting towards an accrual basis accounting. The 2004 financial statements respect the International Public Sector Accounting Standards (IPSAS), the EFSA internal rules and financial regulations. The 2003 accounts were completely restarted under accrual basis accounting in order to ensure a reliable comparison.