Task Force on Harmonization of Public Sector Accounting

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Task Force on Harmonization of Public Sector Accounting Chapter on Government and Public Sectors

Task Force on Harmonization of Public Sector Accounting Chapter on Government and Public Sectors SNA Advisory Expert Group Bangkok, July 2005

Why a chapter on government and public sectors As is the case for the

Why a chapter on government and public sectors As is the case for the ROW, government presents special problems that are only alluded to in the sequence of accounts. – govt engaging in nonmonetary transactions – govt ownership of units in another sector (one way is to provide for the public sector) Need to link with ESA Manual on Government Deficit and Debt (EMGDD) and GFSM 2001

Plan for the chapter Purpose and SNA institutional units and sectors General government (composition,

Plan for the chapter Purpose and SNA institutional units and sectors General government (composition, accounts, specific activities) Public sector (composition, accounts, relations with both public and private corporations) Relations between government and corporations

The general government sector Composition of the general government The accounts of the general

The general government sector Composition of the general government The accounts of the general government (public finance presentation) – – – Revenue Expenditure, of which expense and net acquisition of non-financial assets Balances Financial account Other changes in assets account Balance sheets Accounting for specific activities of general government

The public sector Composition of the public sector The accounts of the public sector

The public sector Composition of the public sector The accounts of the public sector – Revenue – Expenditure, of which expense and net acquisition of non-financial assets – Balances – Financial account – Other changes in assets account – Balance sheets

Relations between government and corporations Transactions between government and public corporations – – Earnings

Relations between government and corporations Transactions between government and public corporations – – Earnings from equity investment Taxes versus withdrawal of equity Dividends versus withdrawal of equity Etc. Other transactions with corporations – – Public/private partnership Licenses and concessions Securitization Etc.

How do the chapter relate to the five topics of the TFHPSA Delineation (institutional

How do the chapter relate to the five topics of the TFHPSA Delineation (institutional units) Taxes (accounts of government) Earnings and capital (relations with public corporations) Restructuration (relations with public and private corporations) Guarantees (relations with corporations)

Possibility of an annex for links with related datasets Provide detailed correspondence between SNA

Possibility of an annex for links with related datasets Provide detailed correspondence between SNA sequence of accounts and public finance accounts GFSM 2001, ESA 95 Manual of government debt and deficit, OECD Revenue Statistics, and possibly IPSAS.

Points for confirmation by the AEG General plan to include a chapter on government.

Points for confirmation by the AEG General plan to include a chapter on government. Overall scope and organization of topics to be included. Plans for completing the work. Possibility of an annex to show the links with GFSM 2001, ESA 95 MGDD, OECD Revenue Statistics, and IPSAS.