New Delhi, April 19 :    New Delhi, April 19:  The Institute of Chartered Accountants of India (ICAI) will present a report next week on the total accounting policy in the power sector, to bring uniformity in the financial information of the various entities in the sector. Apart from making the financials of different power entities comparable, it will seek to bring it in line with the Generally Accepted Accounting Principles (GAAP). This will make it easier for these power entities to raise loans and capital from the market, especially from global lenders like IFC and the World Bank, ICAI sources said. Different accounting practices are being followed by different categories of power sector entities. To bring about uniformity in the financial information or disclosures, the ministry of power had asked ICAI to do a study for developing a proper framework of financial accounting and reporting practices for power sector entities. At present, the state electricity boards (SEBs) are following the Electricity (Supply) Annual Accounts Rules 1985 (ESAAR). Power sector companies follow the Companies Act provisions pertaining to disclosure of financial information while the state electricity departments (SED follow the governmental financial and accounting rulings, said ICAI sources. Senior ICAI officials said the idea is to make all entities in the power sector follow accounting standards which are in tune with those of other economic entities. The prescribed model will be an Indian accounting standard, duly harmonised with international accounting standards, officials said. In another project, ICAI is in the process of converting the accounting norms of the Municipal Corporation of Delhi to the accrual system and computerising their accounts. According to an MoU with MCD, ICAI will complete the phase-I of the project by March 31 next year. At present, municipal bodies use the age-old cash-based system of accounting ICAI sources said. In 2000, Tamil Nadu became the first state to introduce an accrual-based double entry accounting system in the municipal bodies, with technical assistance from a USAID programme.