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Government Accounting: Assessing Theory, Objectives, and Standards

Government accounting and financial reports aim to protect and manage public budgets and accountability. These objectives and the nature of public goods and tax financing lead to differences with

Business Accounting.

This is not yet reflected in government accounting standards in English-speaking developed countries or in international public accounting standards. All of this is strongly influenced by private sector practices that favor fundraising and joint reporting. This article argues for a gradual symmetrical approach to the accumulation and integration of government and fund reports. The author also proposes a number of comprehensive accounting principles to promote political and economic accountability.

Measure and report the country's finances: statistics and accounting

Measure and report on a country's finances is based on government budgets, national accounts, and fundamentally different accounting disciplines. The nature and magnitude of these differences are rarely clarified. The most visible change in the accounting discipline in the second half of the 20th century was the emergence of the incorporation of accounting codes, with a policy-making process that allowed for proper functioning. One result is that each code design differs in countries such as the United Kingdom and the United States, as well as between them. Preparations for government budgets and national accounting are different again. The article provides some comprehensive conclusions.