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Railway PSUJourney of Accrual Accounting over Indian Railways
This paper traces the preparatory stages and pilot project roll out of the Accrual Accounting Project over Indian Railways, flagging the challenges faced and the measures taken for securing its success. The Project was initially implemented through the Grafting Method with Financial Statements generated for four financial years, 2017-18 to 2020-21, in a short span of 21 months between September 2021 and May 2023. Simultaneously in 2022-23, the phased implementation of the Pilot Project through the Transaction Method over the entire IR was undertaken successfully with above 99% accuracy, so that both methods are running parallel to the cash-based accounting system on IR from 01.4.23. Accrual Accounting as part of Accounting Reforms has been implemented on Indian Railways by the Accounting Reforms team headed by Chief Administrative Officer, Accounting Reforms with the support of CRIS and ICAI-MARF
Published on May 5, 2026
