Title: Government Accounting: An Assessment of Theory, Purposes and Standards
Abstract:Government accounting and financial reporting aims to protect and manage public money and discharge accountability. These purposes, and the nature of public goods and tax financing, give rise to diffe...Government accounting and financial reporting aims to protect and manage public money and discharge accountability. These purposes, and the nature of public goods and tax financing, give rise to differences with commercial accounting. This is not yet reflected either in government accounting standards in English-speaking developed nations or in international public sector accounting standards. All of these are heavily influenced by private sector practices, which favour the accrual basis and consolidated reporting. This article argues for a gradual symmetric approach to accruals and a combination of government-wide and fund reporting. The author also proposes some broad accounting principles to promote political and economic accountability.Read More
Publication Year: 2003
Publication Date: 2003-03-15
Language: en
Type: article
Access and Citation
Cited By Count: 4
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