By Ikome Christie-Noella Eposi in Buea
Accountants, treasurers, head of services, sub-treasurers, taxation revenue collectors and custom revenue collectors in the South West region have been enlightened on the innovations contained in the 2023 finance law. This was during a seminar on the nomenclature of treasury accounts for the 2023 financial year which took place recently in Buea.
The Participants were also drilled on the budget execution circular for the 2023 financial year, innovations of the nomenclature of treasury accounts for the 2023 financial year, the state’s internal accounting control and how to process operations in the patrimony software and innovations.
The Treasurer-paymaster General for the South West Region, Angoula Mbassi Ananias in his welcome address appreciated all for their massive presence at the seminar and revealed that the treasury accounting nomenclature for the 2023 accounts will go a long way to enable public accountants in the South West Region effectively carry out their duties.
According to the Senior Treasury Inspector, Eyong Eric Eyong, the seminar is based on explanations regarding nomenclature of accounts. “We are here today to enlighten the accountants and treasurers in the South West region on the innovations contained in the 2023 finance law. The principal innovation is the continuation of the accounting system we started last year (accrual or patrimonial accounting). Last year was the first and this year is the second and we are going ahead. Some accounts have been suppressed and some have been created so the accountants have to be aware of these changes so that in terms of reporting and justification, they should be able to forward the necessary documents to headquarters”.
Eyong Eric Eyong added that the main challenge thus far has been adapting to the new computerized system but he assured all that the trainings the accountants are taking will help direct them on how to go about the system.
The TPG for the South West Region, Angoula Mbassi in a press interview remarked that the seminar is organized by the Minister of Finance and the Director General of Treasury, Financial and Monetary Cooperation to explain to their collaborators the nomenclature of accounts for the 2023 fiscal year. “This is a very important tool for us the accountants to enable us effectively record our accounts without any problems.
He explained that some changes will definitely be made such as the notion of the patrimonial account which started last year and will continue this year. “At the level of budget execution, we will no longer have what we use to call purchasing order as everything will be computerized” he revealed.
The head of the mission during his presentation noted that the changes will be difficult to assimilate but he encouraged all the participants to redouble their efforts in assimilating the changes. There were series of constructive exchanges as participants shared their views and concerns concerning the accounting nomenclature.
For the 2023 financial year, FCFA 6,345.1 billion was voted in terms of revenue and expenditure. To ensure the proper execution of the budget, the Minister of Finance signed the circular on instructions relating to the execution of finance laws, monitoring and control of the execution of the state budget and other public entities for the 2023 financial year. It is worthy of note that, the nomenclature permits public accountants to execute/implement the finance law. The nomenclature also comes to put in place the patrimonial/accrual accounting.
