Thirdly, in comparison with cash flow accounting, accruals adjustments demand a higher administrative and accounting cost.

Since standard-setting, as the private sector knows it, is primarily concerned with accruals adjustments and their effect, the Treasury manual is not strictly comparable.

"Expenses incurred" - The investment shall be measured on the same basis of accounting as used for financial statements, including appropriate accrual adjustments, general and administrative overhead, and costs of facilities.31 Amounts shall be reported in nominal dollars.

Ronald Wildmann, head of Swiss equity at Bank Leu in Zurich, said that in the first quarter of 2002 "there were some fears that accrual adjustments were credited back" to the profit-and-loss statement, he said.

In general, however, stewardship investments shall be measured on the same basis of accounting as used for financial statements, including appropriate accrual adjustments, general and administrative overhead, and a share of the cost of facilities (for example, depreciation).9 25.