v7 FreeBalance Help Clone (To be used to implement a new UI )

The purpose of the Financial Information Strategy (FIS) is to implement, in the Government of Canada, a model of accounting that more closely conforms with the Generally Accepted Accounting Principles (GAAP) as practiced in the private sector. The model of accounting under FIS is in accordance with the recommendations of the Public Sector Accounting and Auditing Board (PSAAB) of the Canadian Institute of Chartered Accountants (CICA).
 
Furthermore, in November 1995, the Treasury Board (TB) considered and approved an Aide Memoire on an updated FIS approach for the Government of Canada. TB endorsed FIS as a government priority and approved its objectives, scope, and implementation approach. The accrual accounting method, forming part of the accounting requirements of FIS, was supported as a government priority in the 1995 Budget.
 
As a result of these historical changes in accounting practices within the Government of Canada, FreeBalance has worked closely with government organizations to develop the FIS Gateway module as part of the FreeBalance Financial Accountability application.
 
Under FIS, the following Government of Canada systems have been developed or updated. These systems are
used to send and/or receive data:

• SPS Standard Payment System
• SPS/IS Standard Payment System/Interdepartmental Settlements
• BCMS Banking and Cash Management System
• RG-GL Receiver General - General Ledger
• CFMRS Central Financial Management Reporting System
• PWGSC Pay System Payroll System: Public Works and Government Services Canada

Related Documents

• Common Features and Actions