IDEAS home Printed from https://ideas.repec.org/a/bla/abacus/v45y2009i2p171-220.html
   My bibliography  Save this article

Public Sector Consolidated Statements—an Assessment

Author

Listed:
  • R. G. WALKER

Abstract

Judgments potentially made by various participants in (or observers of) the public sector on the basis of aggregative financial information about governments are reviewed. Distinctions are drawn between judgments that are made routinely, or under certain conditions, by decision makers or observers. It is recognized that (in Australia) the financial information that is relevant to the majority of these judgments is already supplied by other sources (principally budget documents, or in Government Finance Statistics) rather than by public sector consolidated statements. It is concluded that a number of routine judgments could be based on financial information presented in the form of consolidated statements (of varying scope). Alternative criteria for determining the scope of consolidated statements are reviewed. Accountability and control are noted as potential bases. Depending on the adopted objective, it is concluded that tests of control are either not relevant, or inappropriate. It is contended that prior studies that have recommended use of control have focused on processes (trying to find a suitable test for determining the ambit of consolidated statements) rather than on objectives, and examining in some detail what information would be relevant to different users and uses.

Suggested Citation

  • R. G. Walker, 2009. "Public Sector Consolidated Statements—an Assessment," Abacus, Accounting Foundation, University of Sydney, vol. 45(2), pages 171-220, June.
    • Handle: RePEc:bla:abacus:v:45:y:2009:i:2:p:171-220
    DOI: 10.1111/j.1467-6281.2009.00282.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1467-6281.2009.00282.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1467-6281.2009.00282.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mr. Manmohan S. Kumar & Mr. Pablo Emilio Guidotti, 1991. "Domestic Public Debt of Externally Indebted Countries," IMF Occasional Papers 1991/005, International Monetary Fund.
    2. Stewart Jones & R. G. Walker, 2007. "Explanators of Local Government Distress," Abacus, Accounting Foundation, University of Sydney, vol. 43(3), pages 396-418, September.
    3. Willem H. Buiter, 1990. "Principles of Budgetary and Financial Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262524139, April.
    4. John Whiteman, 1988. "Defining And Quantifying Community Service Obligations," Economic Papers, The Economic Society of Australia, vol. 7(3), pages 33-43, September.
    5. R. G. Walker, 2003. "Objectives of Financial Reporting," Abacus, Accounting Foundation, University of Sydney, vol. 39(3), pages 340-355, October.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alessandro Lombrano & Luca Zanin, 2013. "IPSAS and local government consolidated financial statements—proposal for a territorial consolidation method," Public Money & Management, Taylor & Francis Journals, vol. 33(6), pages 429-436, November.
    2. Milana Otrusinová & Eliška Pastuszková, 2013. "Transformation process of state accounting to accrual basis accounting in conditions of the Czech Republic," Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, Mendel University Press, vol. 61(7), pages 2593-2602.
    3. Milana OTRUSINOVÁ, 2016. "Public sector accounting in the Czech Republic and Slovakia," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2016(27), pages 30-45, Decembre.
    4. Rooney, Jim & Dumay, John, 2016. "Intellectual capital, calculability and qualculation," The British Accounting Review, Elsevier, vol. 48(1), pages 1-16.
    5. Andreea Cirstea & Stefan Dragos Cirstea, 2015. "Similarity Or Dissimilarity Between Public And Private Sector Standards Regarding Consolidated Reporting?," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 48-52, August.
    6. Ralph Kober & Janet Lee & Juliana Ng, 2013. "GAAP, GFS and AASB 1049: perceptions of public sector stakeholders," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 53(2), pages 471-496, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Creel, Jerome & Bihan, Herve Le, 2006. "Using structural balance data to test the fiscal theory of the price level: Some international evidence," Journal of Macroeconomics, Elsevier, vol. 28(2), pages 338-360, June.
    2. Yasushi Iwamoto, 2005. "Interaction between Monetary and Fiscal Policy and the Policy Mix, Theoretical Consideration and Japanese Experience," CARF F-Series CARF-F-043, Center for Advanced Research in Finance, Faculty of Economics, The University of Tokyo.
    3. F. Gulcin Ozkan & Ahmet Kipici & Mustafa Ismihan, 2010. "The Banking Sector, Government Bonds, and Financial Intermediation: The Case of Emerging Market Countries," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 46(4), pages 55-70, January.
    4. Singh, Nirvikar & Srinivasan, T. N., 2004. "Fiscal Policy in India: Lessons and Priorities," Santa Cruz Department of Economics, Working Paper Series qt8nx3v467, Department of Economics, UC Santa Cruz.
    5. John T. Cuddington, 1997. "Analysing the Sustainability of Fiscal Deficits in Developing Countries," International Finance 9706001, University Library of Munich, Germany.
    6. Mariola Kapidani, 2018. "Financial Condition Analysis of Municipal Units in Albania," MIC 2018: Managing Global Diversities; Proceedings of the Joint International Conference, Bled, Slovenia, 30 May–2 June 2018,, University of Primorska Press.
    7. Buiter, Willem H., 2007. "Seigniorage," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 1, pages 1-49.
    8. David B. Sutton & Carolyn J. Cordery & Tony Zijl, 2015. "The Purpose of Financial Reporting: The Case for Coherence in the Conceptual Framework and Standards," Abacus, Accounting Foundation, University of Sydney, vol. 51(1), pages 116-141, March.
    9. Montiel, Peter J., 1993. "Fiscal aspects of developing countrydebt problems and debt and debt-service reduction operations : a conceptual framework," Policy Research Working Paper Series 1073, The World Bank.
    10. Kimani, Stephanie, 2024. "Implications of macroeconomic stabilization policies on financial intermediation," KBA Centre for Research on Financial Markets and Policy Working Paper Series 82, Kenya Bankers Association (KBA).
    11. Emanuele Bacchiocchi & Massimo Florio & Mara Grasseni, 2005. "The missing shock: the macroeconomic impact of British Privatizations," Applied Economics, Taylor & Francis Journals, vol. 37(14), pages 1585-1596.
    12. Gustavo Garcia Osio & Rafael Rodriguez Balza & Luis Marcano & Ricardo Penfold & Gustavo Sanchez, 1998. "La sostenibilidad de la política fiscal en el América Latina: El caso de Venezuela," Research Department Publications 3016, Inter-American Development Bank, Research Department.
    13. Khushbu Agrawal & Chanchal Chatterjee, 2015. "Earnings Management and Financial Distress: Evidence from India," Global Business Review, International Management Institute, vol. 16(5_suppl), pages 140-154, October.
    14. Chakraborty, Lekha & Varma, Kushagra Om, 2015. "Efficacy of New Monetary Framework and Determining Inflation in India: An Empirical Analysis of Financially Deregulated Regime," Working Papers 15/153, National Institute of Public Finance and Policy.
    15. Wildmer Daniel Gregori & Luigi Marattin, 2019. "Determinants of fiscal distress in Italian municipalities," Empirical Economics, Springer, vol. 56(4), pages 1269-1281, April.
    16. László, Csaba, 2001. "Vargabetűk az államháztartási reform tízéves történetében (1988-1997) [Detours in ten years' history of public-finance reform (1988-1997)]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(10), pages 844-864.
    17. Rexhep Dokja, 2013. "Do Budget Deficits Cause Inflation? Evidence from Albania," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 2, October.
    18. Lekha S. Chakraborty, 2012. "Interest Rate Determination in India: Empirical Evidence on Fiscal Deficit--Interest Rate Linkages and Financial Crowding Out," Economics Working Paper Archive wp_744, Levy Economics Institute.
    19. Marc Robinson, 1999. "Accrual Financial Reporting In the Australian Public Sector: An Economic Perspective," School of Economics and Finance Discussion Papers and Working Papers Series 065, School of Economics and Finance, Queensland University of Technology.
    20. Garima Vasishtha, 2010. "Domestic versus External Borrowing and Fiscal Policy in Emerging Markets," Review of International Economics, Wiley Blackwell, vol. 18(5), pages 1058-1074, November.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:abacus:v:45:y:2009:i:2:p:171-220. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0001-3072 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.