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Adolf J. H. Enthoven

The author shows that accountancy 1 has constantly changed to meet the requirements of society and indicates that further development is now called for to meet the special requirements of the developing countries. A later article will deal with the nature of the change that the author believes should now be taking place.

Ms. Dawn Elizabeth Rehm and Ms. Taryn R Parry

Abstract

32. This chapter discusses fiscal transparency principles and practices that concern the scope of government and the framework for fiscal management. They are crucial as a basis for assigning accountability for the design and implementation of fiscal policy. Identification of all those entities that provide a public good or service provides the public with an understanding of the true scope of government. A legal and administrative framework that clearly assigns the roles and responsibilities of government in the collection and use of public resources promotes accountability and good governance.

Ms. Dawn Elizabeth Rehm and Ms. Taryn R Parry

Abstract

109. The budget process and the information presented in the budget documentation are central to fiscal transparency. Almost without exception, the annual budget is the government’s main instrument for setting fiscal policy. It is the occasion on which the government presents its expenditure proposals and the means by which it will finance them, within the context of explicit statements of its policy intentions. Alongside the formal set of line-item allocations of spending organized by administrative unit, which forms the core of information needed by the legislature to scrutinize and approve spending, the government uses the budget to detail its proposals for revenue collection and borrowing, placed in a historical framework, and explains how these proposals will help achieve its objectives.

Ms. Dawn Elizabeth Rehm and Ms. Taryn R Parry

Abstract

177. Making fiscal information available to the public is a defining characteristic of fiscal transparency.80 Principles and practices in this regard concern the provision of comprehensive information on fiscal activity and government objectives and the presentation of such information in a way that facilitates policy analysis and promotes accountability.

International Monetary Fund. Statistics Dept.
As part of the Switzerland State Secretariat for Economic Affairs (SECO) project, a technical assistance mission visited Jakarta, Indonesia, during January 8–12, 2018, to develop the capacity to compile integrated sectoral accounts and balance sheets data. The mission reviewed the results of the work undertaken to implement the recommendations of the September 2017 mission.
International Monetary Fund. Statistics Dept.
A Technical Assistance (TA) Mission from the Regional Technical Assistance Center for Central America, Panama, and the Dominican Republic, visited the city of San Salvador, El Salvador, on August 13–24, 2018, to provide TA to the Central Reserve Bank of El Salvador (BCRES) on compiling annual accounts by institutional sectors (AAIS) from 2014 onwards, as part of the data series from the base year of 2005. In March 2018, the BCRES published a dataset of quarterly and annual national accounts series by economic activity; a monthly volume indicator; backcasted series from 1990–2014; and Supply and Use Tables (SUT) from 2005 and 2014, with a base year of 2005. As part of the dataset to be prepared and disseminated in the new 2005 base year, the authorities requested TA to compile annual accounts focusing on institutional sectors starting in 2014.
International Monetary Fund. Statistics Dept.
A Technical Assistance (TA) Mission from the Regional Technical Assistance Center for Central America, Panama, and the Dominican Republic, visited the city of San Salvador, El Salvador, on August 13–24, 2018, to provide TA to the Central Reserve Bank of El Salvador (BCRES) on compiling annual accounts by institutional sectors (AAIS) from 2014 onwards, as part of the data series from the base year of 2005. In March 2018, the BCRES published a dataset of quarterly and annual national accounts series by economic activity; a monthly volume indicator; backcasted series from 1990–2014; and Supply and Use Tables (SUT) from 2005 and 2014, with a base year of 2005. As part of the dataset to be prepared and disseminated in the new 2005 base year, the authorities requested TA to compile annual accounts focusing on institutional sectors starting in 2014.
International Monetary Fund. Statistics Dept.
This technical assistance report on Malaysia explains the effort by the mission to support the Malaysian authorities in improving Government Finance Statistics (GFS) decision making. The mission achieved significant progress with respect to the development of a budgetary central GFS compilation system based on primary accrual accounting data. The mission, together with the authorities, successfully developed a compilation sheet to facilitate the largely automated compilation of a comprehensive set of GFS tables from the system. With respect to flows reported in the income statement, the analysis suggests that it is essential to build the survey around the balancing items (net) operative income and (net) comprehensive income. The analysis of the corporate balance sheets suggests that most accounting terms used by the public corporations can be grouped sensibly and linked to GFS classifications. With respect to the extrabudgetary units of central government, the mission proposed minor refinements of the survey and prepared preliminary GFS data.
International Monetary Fund
This report evaluates the Observance of Standards and Codes on Fiscal Transparency for Sri Lanka. Sri Lanka has achieved a substantial degree of fiscal transparency in several important areas, including the legal and administrative framework for fiscal management, the compilation and publication of detailed accounts for the central government, and the maintenance of separate and aggregate accounts for public corporations. The government is also undertaking additional reforms to improve transparency, including the passage of a new Public Finance Act, and the development of a quantitative macroeconomic framework for budget preparation.
Ms. Dawn Elizabeth Rehm and Ms. Taryn R Parry

Abstract

261. It is essential for fiscal transparency that fiscal data reported to the government meet basic criteria that attest to their quality, and that mechanisms be in place that provide assurances to the legislature and the public about data integrity. Internal oversight mechanisms are necessary for the conduct of public officials, public service employment, internal audit, procurement, purchases and sales of public assets, and national revenue administration. External oversight mechanisms also provide assurances through an independent national audit body, a national statistical body, and engagement with external independent experts.