James, Robert M.
July 1950
Accounting Review;Jul50, Vol. 25 Issue 3, p307
Academic Journal
A study of the development and progress of governmental accounting theory in the U.S. indicates that there are three important concepts upon which it is based. These concepts are fund accounting, accrual accounting and budgetary accounting. Almost without exception, when individuals or organizations consider governmental accounting theory, their consideration centers around one or more of these concepts. In as much as these three concepts have such an important position in governmental accounting, it would seem to be worth while to look at them more carefully. As additional control becomes desirable, accounting theory must be considering constantly the ways and means by which accounting practice can be changed in order to provide better control. Before intelligent changes can be proposed, the present technique used in governmental accounting must be thoroughly understood. The purposes of this study are to present some ideas about the theory of governmental accounting and to provoke additional discussion out of which understanding may be advanced.


Related Articles

  • Postemployment benefits: The controversy over accrual accounting. Goldstein, Murray H.; Akresh, Murray S. // Financial Executive;Sep/Oct87, Vol. 3 Issue 5, p34 

    This article examines the effect of accounting for nonpension postemployment benefits during employees' working lives on financial statements. As the cost of these benefits rises many people believe these financial commitments should be included in some way on a firm's balance sheet. The...

  • Improved Financial Reporting Governments.  // Chartered Accountants Journal;Feb1997, Vol. 76 Issue 1, p65 

    Many governments, like New Zealand's, have adopted accrual accounting to improve their standard of financial reporting. Others, however, use a variety of measurement bases, from cash through to full accrual. International Federation of Accountants in New Zealand has commissioned a project from...

  • Accruals could mean less control says NAO. Weekes, Tim // Public Finance;04/26/96, p6 

    Reports that the proposal of the Treasury for the British central government to move to an accrual system, risks diminishing the detailed control of the parliament over public spending. Aim of the proposal; Contention that change to accrual system can increase the ability of parliament to...

  • Financial statements and the FASB retiree health proposal. Meehan, James C.; Dankner, Harold // Financial Executive;Jan/Feb1989, Vol. 5 Issue 1, p33 

    This article explains the impact of the Financial Accounting Standards Board (FASB) decision to use accrual accounting for retiree and postemployment health care expenses. This would most likely result in higher expenses and less tax advantages. The additional expenses could be reflected in a...

  • Reporting performance.  // Accountancy;Nov2002, Vol. 130 Issue 1311, p107 

    The article focuses on implementation issues related to reporting standards, discussed by the International Accounting Standards Board (IASB) with the U.S. Financial Accounting Standards Board, about the financing part of the statement of comprehensive income. It was mutually agreed by both...

  • Public Sector Accounting Standards: Strengthening accountability and improving governance. Sanderson, Ina; Van Schaik, Frans // Accountancy Ireland;Oct2008, Vol. 40 Issue 5, p22 

    The article focuses on the International Federation of Accountants' (IFAC) International Public Sector Accounting Standards (IPSAS) in Ireland. Accordingly, IPSAS has developed standards that apply to both the accruals basis and the cash basis of accounting. Countries that are adopting the...

  • GASB proposal clarifies fund balance reporting. Cheney, Glenn // Accounting Today;4/14/2008, Vol. 22 Issue 7, p3 

    The article discusses the Governmental Accounting Standards Board (GASB) proposal to clarify the rules on fund reporting stated in Statement 34. GASB has proposed the statement Fund Balance Reporting and Governmental Fund Balance Reporting and Governmental Fund Type Definitions to clarify the...

  • The Effect of Adopting K-IFRS on Financial Reports - Case Study with KT&G. JeongYeon Kim // International Journal of Multimedia & Ubiquitous Engineering;Mar2013, Vol. 8 Issue 2, p205 

    Through a case study with selected company early adopted K-IFRS, we review the changes of discretionary accruals as indicator of existence of earning management activities. We set up the following hypothesis: Discretionary accruals and its associated financial ratios changes after adopting...

  • Our Unaccountable Federal Government: It Doesn't Add Up. DioGuardi, Joseph J. // Accounting Horizons;Jun95, Vol. 9 Issue 2, p62 

    Focuses on the accounting principles used in the financial operation of the federal government in the U.S. Installation of accrual accounting; Implementation of capital budgeting; Integration of budgeting and accounting standards.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics