frameworks is the same to provide information for decision making JCPAA 2001 PA

Frameworks is the same to provide information for

This preview shows page 322 - 325 out of 354 pages.

frameworks is the same: to provide information for decision making (JCPAA 2001, PA 22) No technical details discussed While no explicit discussion of normative aspects, underlying premise of review is assessment and improvement of public sector financial reporting. Dependency on IMF limits opportunities to harmonise with GAAP: “there may well be sensible ways in which we can modify the accounting standards applying to government to provide for greater harmonisation between GFS and AAS31” PE B (JCPAA 2001, p. 27) “Our solution to that was that, whenever we publish accruals based government finance statistics, we will provide a reconciliation to get from our presentation of the data to the accounting presentation. Having said that, there are, in There should be no differences (Bartos, PE A, PE B, PA D) PE D “ has it on his plate to seek to harmonise [GAAP and GFS]” (JCPAA 2001, p. 26) GFS statements are not audited (JCPAA 2001, PA 15 and p. 35) Role of Finance is not to harmonise GAAP and GFS. GFS is ABS, GAAP is ANAO Evidence of politician’s confusion relating to accruals brought into association with issues due to GAAP versus GFS reporting Politician’s question: Who is the driving force behind GFS and GAAP/GFS harmonisation, as GFS statements presentation
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309 Date Organisation Event Attendance/ involvement of PEs and members of epistemic community Consideration of cognitive substance Consideration of normative substance, value acceptance Consideration of future constraints Other my view, some needless differences between the accounting presentation and the statistical presentation. We would be very keen to see whether we can remove those differences.” Mr Edwards(JCPAA 2001, PA 32) differs across jurisdictions in Australia? (JCPAA 2001, PA 45- 46) Submissions to JCPAA report ABS Follow up (sub 14) Some differences due to different objectives of GAAP and GFS Does not mention GAAP/GFS harmonisation CPA (sub5) signed by ACAG member No No No Sees merit in reviewing GFS and GAAP compilations AASB (sub 6) No No No Information about AASB public sector projects, including ABS reconciliation with GAAP, project on prospective financial reporting and comment on relating audit ANAO (sub 7) Follow-up submission (19 July 2001, sub 11) (ACAG member) Conceptual consideration: Objectives and purpose of each GAAP and GFS should be clearly defined and understood Discusses some examples of different treatments of GAAP and GFS, in particular GST ANAO willing to audit GFS departments, if parliament and government would decide this was necessary. ANAO would No No Does not mention GAAP/GFS harmonisation
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310 Date Organisation Event Attendance/ involvement of PEs and members of epistemic community Consideration of cognitive substance Consideration of normative substance, value acceptance Consideration of future constraints Other seek expert advice.
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  • Fall '13
  • Government, The Land, International Financial Reporting Standards, Financial Accounting Standards Board, Australian Accounting Standards Board, Snow

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