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Reforming Australian Public Sector Accounting. Edition No. 1
VDM Publishing House, Sep 2008, Pages: 288
In recent years in Australia, accounting reforms
have been developed which have resulted in the
application of commercial systems of accounting to
diverse public sector organisations. The reforms,
which include the requirement to recognise
infrastructure and heritage resources as assets in
financial reports, endorse financial notions of
accountability and performance that have been
traditionally applied within private sector, profit-
seeking organisations. Such notions are applied to a
range of public sector organisations for the first
time, even though the primary missions or objectives
of many of these organisations are social, rather
than financial in orientation. This study critically
examines recent Australian public sector accounting
reforms. It demonstrates the application of the
Australian conceptual framework in developing
accounting pronouncements which apply accrual
accounting to diverse public sector organisations.
Thus, the study enhances an understanding of the
role of such frameworks in specific instances of
accounting change.
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