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NCJRS Abstract

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NCJ Number: 66879 Find in a Library
Title: SETTING ACCOUNTING STANDARDS IN THE PUBLIC SECTOR
Journal: JOURNAL OF ACCOUNTANCY  Volume:147  Issue:3  Dated:(MARCH 1979)  Pages:83-87
Author(s): J H ENGSTROM
Date Published: 1979
Page Count: 8
Format: Article
Language: English
Country: United States of America
Annotation: A MODEL IS SUGGESTED FOR DEALING WITH ISSUES INVOLVED IN SETTING ACCOUNTING STANDARDS FOR PUBLIC SECTOR ORGANIZATIONS (GOVERNMENTS AND NONPROFIT PRIVATE INSTITUTIONS).
Abstract: RECENTLY, SOME ACCOUNTANTS HAVE QUESTIONED NOT ONLY THE DIVERSITY OF ACCOUNTING PRINCIPLES IN THE PUBLIC SECTOR BUT ALSO THE DIFFERENCES BETWEEN PUBLIC AND PRIVATE SECTOR ACCOUNTING. A MODEL IS SUGGESTED FOR APPROACHING THE ISSUES, WHICH USES EFFICIENT RESOURCE ALLOCATION IN THE NONBUSINESS SECTOR AS THE CRITERION FOR EVALUATING SUCH ISSUES. IF RATIONAL AND INFORMED RESOURCE ALLOCATION IS ACCEPTED AS THE ULTIMATE GOAL OF PUBLIC SECTOR ACCOUNTING AND REPORTING, THE NEXT STEP IS TO IDENTIFY THE DECISIONMAKERS WHO HAVE THE MOST INFLUENCE ON THAT GOAL. ONCE THE DECISIONMAKERS HAVE BEEN IDENTIFIED, THEIR NEEDS FOR INFORMATION SHOULD BE EXPLORED. FINALLY, AN INVESTIGATION SHOULD BE CONDUCTED TO DETERMINE WHICH FINANCIAL REPORTS, AGGREGATED IN THE MOST MEANINGFUL WAY BASED ON APPROPRIATE ACCOUNTING METHODS, WOULD MEET THOSE NEEDS. ONLY AFTER THIS ANALYTICAL PROCESS HAS BEEN PURSUED SHOULD QUESTIONS BE RAISED REGARDING WHETHER NONBUSINESS REPORTING SHOULD BE SIMILAR TO BUSINESS REPORTING AND WHETHER ALL NONBUSINESS REPORTING SHOULD BE UNIFORM. DETAILS OF EACH OF THE MODEL STEPS ARE DISCUSSED. FOOTNOTES AND SEVERAL EXHIBITS ARE INCLUDED. (RCB)
Index Term(s): Accounting methods; Decisionmaking; Financial management; Local government; Models; Public administration; Standards; State government
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http://www.ncjrs.gov/App/publications/abstract.aspx?ID=66879

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