{"id":30077,"date":"2026-06-04T14:24:17","date_gmt":"2026-06-04T11:24:17","guid":{"rendered":"https:\/\/siaya.go.ke\/siaya\/?p=30077"},"modified":"2026-06-04T14:24:17","modified_gmt":"2026-06-04T11:24:17","slug":"counting-every-asset-siaya-county-leads-the-charge-in-kenyas-shifting-accounting-landscape","status":"publish","type":"post","link":"https:\/\/siaya.go.ke\/siaya\/counting-every-asset-siaya-county-leads-the-charge-in-kenyas-shifting-accounting-landscape\/","title":{"rendered":"Counting Every Asset: Siaya County Leads the Charge in Kenya\u2019s Shifting Accounting Landscape"},"content":{"rendered":"

By Diana Odongo and Quinter Atieno<\/strong><\/p>\n

Siaya County is aggressively boosting its capacity building to meet the National Treasury\u2019s strict transition from cash to accrual-basis accounting.<\/p>\n

\"\"This reform, aimed at eliminating the gaps of cash accounting by fully reflecting public assets, liabilities, and debt, officially marks the end of cash reporting.<\/p>\n

The structured three-year project is delivering standardized templates, Standard Chart of Accounts (SCOA) finalization, and IFMIS reengineering to counties.<\/p>\n

A major focus of Siaya\u2019s recent executive forums is Phase II of this reform: the first-time adoption of IPSAS 12 (Inventories)<\/strong>.In the public sector, inventories extend far beyond items for sale; they encompass consumable stores, maintenance gear, spare parts, strategic fuel reserves, and educational supplies.<\/p>\n

Facilitators emphasized that recognizing revenue when earned and expenses when incurred requires pinpoint accuracy regarding what the county owns.<\/p>\n

To ensure seamless implementation, county finance, procurement, and stores officers are collaborating on five critical preparatory steps:
\nEstablishing Opening Balances:<\/strong> Departments must verify actual stock on hand to create a reliable baseline for future financial statements.<\/p>\n

Conducting Inventory Surveys:<\/strong>\u00a0Comprehensive physical verifications across facilities will confirm quantities and locations while flushing out obsolete, expired, or duplicated records.<\/p>\n

Valuation Mastery:<\/strong> Items will be measured at historical cost, or via alternative fair-value approaches if past records are incomplete.<\/p>\n

Formulating Costing Policies:<\/strong> The county is adopting clear guidelines for specific identification, First-In, First-Out (FIFO), or Weighted Average cost formulas, alongside rules for stock write-downs.<\/p>\n

Tightening Stores Management:<\/strong> Controls are being reinforced through updated bin cards, periodic counts, and strict segregation of duties to plug waste.<\/p>\n

Transitioning to accrual accounting is a profound governance reform. While challenges like data accuracy and staff readiness persist, leadership support, flexible timelines, and early asset tackling are proving to be vital lessons.<\/p>\n

By mastering IPSAS 12, Siaya County is transitioning compliance into a culture of accountability\u2014ensuring every public resource is precisely tracked to optimize service delivery for its citizens.<\/p>\n

Additional reporting by Mildred Adhiambo<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By Diana Odongo and Quinter Atieno Siaya County is aggressively boosting its capacity building to meet the National Treasury\u2019s strict transition from cash to accrual-basis accounting. This reform, aimed at eliminating the gaps of cash accounting by fully reflecting public assets, liabilities, and debt, officially marks the end of cash reporting. The structured three-year project […]<\/p>\n","protected":false},"author":14,"featured_media":30080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"footnotes":""},"categories":[95],"tags":[],"class_list":["post-30077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates"],"_links":{"self":[{"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/posts\/30077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/comments?post=30077"}],"version-history":[{"count":0,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/posts\/30077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/media\/30080"}],"wp:attachment":[{"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/media?parent=30077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/categories?post=30077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/siaya.go.ke\/siaya\/wp-json\/wp\/v2\/tags?post=30077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}