A set of accrual-based accounts for the 2002-03 financial year will be published next month offering more comprehensive financial information and enhanced transparency.

Secretary for Financial Services & the Treasury Frederick Ma said the set will be provided together with the existing cash-based accounts, which list only cash revenue and expenditure items, for public reference.

He said the accrual-based accounts will provide more information on public finance, such as the Exchange Fund, Government business enterprises, and Government liabilities.

"We hope the accrual-based accounts will enable the public to understand the Government's financial position from multiple perspectives, thus enhancing the transparency of the Government," he said.

"We are at a preliminary stage of developing the accrual-based accounts and will make improvements in light of the experience gained."

Mr Ma said the accrual-based deficit for 2002-03 will be relatively smaller than the cash-based deficit, as the surpluses of the Exchange Fund and Government business enterprises will be included as revenue in the accrual-based accounts.

However, the cash assets at the Government's disposal remain unchanged.

From 2004-05, the accrual-based accounts will also include other Government assets such as Tsing Ma Bridge, tunnels and other infrastructure facilities.