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Harmonisation of Government Finance Statistics and Generally Accepted Accounting Principles

Harmonisation of Government Finance Statistics and Generally Accepted Accounting Principles Harmonisation between the Australian accounting standards applicable to the public sector and Government Finance Statistics is the highest priority for Australian public‐sector reporting. The objective of harmonisation is to achieve a standard for a single set of government reports which are auditable, comparable between jurisdictions, and in which the outcome statements are directly comparable with the relevant budget statements. The result will be an improvement in the quality, clarity and transparency of government financial statements, and will remove the source of confusion as to which set of financial reports presents a more reliable portrayal of financial results. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Australian Accounting Review Wiley

Harmonisation of Government Finance Statistics and Generally Accepted Accounting Principles

Challen, Don; Jeffery, Craig
Australian Accounting Review , Volume 13 (30) – Jul 1, 2003
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Publisher
Wiley
Copyright
2003 CPA Australia
ISSN
1035-6908
eISSN
1835-2561
DOI
10.1111/j.1835-2561.2003.tb00400.x
Publisher site
See Article on Publisher Site

Abstract

Harmonisation between the Australian accounting standards applicable to the public sector and Government Finance Statistics is the highest priority for Australian public‐sector reporting. The objective of harmonisation is to achieve a standard for a single set of government reports which are auditable, comparable between jurisdictions, and in which the outcome statements are directly comparable with the relevant budget statements. The result will be an improvement in the quality, clarity and transparency of government financial statements, and will remove the source of confusion as to which set of financial reports presents a more reliable portrayal of financial results.

Journal

Australian Accounting Review – Wiley

Published: Jul 1, 2003

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