13 JUSTIFICATION FOR THE RESEARCH PROJECT The justification for a research

13 justification for the research project the

This preview shows page 19 - 21 out of 354 pages.

1.3 JUSTIFICATION FOR THE RESEARCH PROJECT The justification for a research project is the significance of the topic and a gap in the existing literature. The significance of this research project is in the uniqueness of the Australian experience as a world’s first developer and implementer of a GAAP/GFS harmonised accounting standard and in the investigation of the agenda setting phase of this project. In particular, the thesis aims to provide insights into the agenda setting process from a political science and public policy perspective. The theoretical contribution of this thesis lies in a new theoretical perspective to investigate the agenda setting process that considers the complexities of this process with a focus on the role of discourse. This theoretical perspective acknowledges that accounting is more than just a mere technical practice, but can, instead, have broader social and institutional functions (see, for example, Miller 1994, Hood 1994, Potter 2005) and any significant accounting changes or developments should be investigated in this context. The significance and the literature gap are discussed in more detail in the following sections. 1.3.1 A case study of GAAP/GFS harmonisation in Australia One of the most important recent developments in public sector accounting is the introduction of accrual accounting. In various jurisdictions, this often occurred in combination with the adoption of alternatives to historic cost measurement. More
Image of page 19
6 recent developments have been with whole of government reporting, of which GAAP/GFS harmonisation is a part. Australia is the first and only country that has developed and implemented an accounting standard to harmonise both reporting frameworks and to serve the macroeconomic objectives of GFS reporting and the microeconomic objectives of GAAP reporting. The case has international significance, because many countries use both GAAP and GFS reporting, but as separate systems. The most recent Government Finance Statistics Yearbook provided GFS data for 133 out of 188 member countries (IMF 2013). At the same time, approximately 44 countries have adopted some form of International Public Sector Accounting Standards (IPSASs) or International Financial Reporting Standards (IFRS) for public sector reporting and more are expected to follow (Müller-Marques Berger 2012). A number of influential international bodies are currently considering or encouraging GAAP/GFS harmonisation. The International Public Sector Accounting Standards Board (IPSASB) has considered GAAP/GFS harmonisation since 2003, when a Task Force on Harmonization of Public Sector Accounting was formed “to examine ways to m inimize unnecessary differences between accounting and the statistical bases of accounting” (IPSASB 2012, p. 48). A research report recommending convergence activities between IPSASB, Eurostat and the IMF followed in 2005 and IPSAS 22 Disclosure of Financial Information about the General Government Sector was issued in December 2006. In June 2011, the IPSASB took up
Image of page 20
Image of page 21

You've reached the end of your free preview.

Want to read all 354 pages?

  • Fall '13
  • Government, The Land, International Financial Reporting Standards, Financial Accounting Standards Board, Australian Accounting Standards Board, Snow

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes
A+ icon
Ask Expert Tutors