This study investigates the institutional, legal, and methodological dimensions of modernizing revenue accounting systems in public sector entities. Emphasizing the transition from cash-based to accrual-based accounting frameworks, particularly those aligned with International Public Sector Accounting Standards (IPSAS), the paper explores global best practices and identifies key enablers for reform. Drawing on the experiences of advanced economies, it outlines strategic recommendations applicable to transition countries aiming to enhance fiscal transparency, improve data reliability, and strengthen public financial governance.