Since 1997, the International Public Sector Accounting Standards Board (IPSASB) has developed and issued 38 accrual standards, and a cash basis standard for countries moving toward full accrual accounting. Governments that report on a cash-basis do not account for significant liabilities, such as pensions and infrastructure development; as a result, the IPSASB encourages public sector entities to adopt the accrual basis of accounting—which will improve financial management and increase transparency resulting in a more comprehensive and accurate view of a government’s financial position. Through our analysis of the standards, we will explore how to migrate an entity toward IPSAS compliance.