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Part F - Basis of recording

Australian System of Government Finance Statistics: Concepts, Sources and Methods
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In the past, government accounts were maintained primarily on a cash basis and only cash flows and selected balances were recorded. Similarly, the GFS system was originally a cash based system. However, the ABS moved to an accruals basis of recording GFS with supporting information about cash flows in 2000. Under the GFS accrual system, all economic events that create, transform, exchange, transfer or extinguish economic value are recorded, whether or not they are associated with cash flows. All such events are recorded at the time at which they occur rather than when associated cash flows occur.