The Relevance of AAS 29 to the Australian Public Sector: A Cause for Doubt?

In December 1993, the AARF issued Australian Accounting Standard AAS 29, Financial Reporting on Government Departments. The Standard requires all Australian government departments (GD5) to adopt comprehensive accrual financial reporting no later than 30 December 1996. Given the magnitude and potenti...

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Publicado en:Abacus Vol. 33; no. 1; pp. 115 - 133
Autores principales: Jones, Stewart, Puglisi, Nina
Formato: Artículo
Publicado: Wiley-Blackwell Mar1997
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Acceso en línea:Ver este registro en EBSCOhost
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        atl: The Relevance of AAS 29 to the Australian Public Sector: A Cause for Doubt?
      aug:
        au:
          Jones, Stewart
          Puglisi, Nina
        affil:
          Department of Accounting and Finance, Monash University
          Ferrier and Hodgson, Chartered Accountants, Melbourne
      su:
        Auditing of government business enterprises
        Business enterprises
        Accounting standards
        Public sector
        Accounting
        Financial statements
        Decision making
        Australia
      sug:
        subj:
          Australia
          Auditing of government business enterprises
          Business enterprises
          Accounting standards
          Public sector
          Accounting
          Financial statements
          Decision making
      keyword:
        Accrual accounting
        Governmental accounting
        Surveys
      ab: In December 1993, the AARF issued Australian Accounting Standard AAS 29, Financial Reporting on Government Departments. The Standard requires all Australian government departments (GD5) to adopt comprehensive accrual financial reporting no later than 30 December 1996. Given the magnitude and potential financial cost of these reforms, the claimed benefits of AAS 29 justify empirical investigation and scrutiny The purpose of the present study was to test underlying rationales of AAS 29 by reference to ratings and opinions of 172 federal and state GDs in Australia. The key rationale of AAS 29 is that accrual-based financial reports will be relevant to the economic decision making of GDs and their external users. While the empirical results presented in this paper are confined to the internal viewpoints of senior GD officials and representatives, they cast into doubt the relevance of AAS 29 in the Australian public sector.
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