Conceptual framework issues: perspectives of Australian public sector stakeholders

Abstract

Recent international developments have refuelled the debate on public sector conceptual framework issues. Drawing on the Australian experience, this study surveys stakeholders of public sector financial reports to examine issues of concern in the development of concepts, definitions and principles pertinent to a public sector conceptual framework. The empirical evidence reveals varying degrees of consensus to questions relating to the objectives of financial reporting, the boundaries of financial reporting and financial statement elements. Respondents are generally not supportive of a single conceptual framework for both private and public sectors. The study also draws on the practices from other countries to provide a more insightful analysis. The study informs the progress of the development of a public sector conceptual framework by highlighting areas that need attention and identifying challenges that exist for standard setters in the further development of a conceptual framework that meets the needs of the public sector.

Evaluating the Implementation of a Mandatory Dual Reporting System: The Case of Indonesian Local Government

“…Internationally, the current study contributes to the ongoing debate around the usefulness, implementation costs and institutional issues associated with the adoption of accrual accounting (Carlin ; Cohen and Karatzimas ; Kober et al. ).…”

“…This study provides the opportunity to assess whether the findings made about the impact of dual reporting (i.e., CTA) in developed economies holds true for Indonesia. Our research also contributes to the ongoing debate around the usefulness, implementation costs and institutional issues associated with the adoption of accrual accounting as the solution to the public sector accounting riddle (Carlin 2005;Cohen and Karatzimas 2017;Kober et al 2012).…”

“…; Kober et al. , , ). In particular, the 1997–98 financial crisis in Asia and more recent chronic debt problems in Greece have reinvigorated the debate surrounding the role of informative reporting and accountability systems for economic surveillance and austerity management (Ball ; Bracci et al.…”

“…D espite extensive study of the adoption of accrual accounting in the public sector, the issues around the implications of adopting this system are continuously debated and investigated (Andriani et al 2010;Carlin 2005;Carlin and Pham 2009;Cohen and Karatzimas 2017;Jones and Puglisi 1997;Kobayashi et al 2016;Kober et al 2010Kober et al , 2012Kober et al , 2013. In particular, the 1997-98 financial crisis in Asia and more recent chronic debt problems in Greece have reinvigorated the debate surrounding the role of informative reporting and accountability systems for economic surveillance and austerity management (Ball 2015;Bracci et al 2015;Cohen and Karatzimas 2017;Dabbicco and D'Amore 2016).…”

“…Researchers and commentators argue that the adoption of such a reporting system ignores the basic differences between the government and the private sector or commercial enterprises (Handyman and Connolly 2011;Kober et al 2012;Vinnari and Näsi 2008). In addition, there is a lack of correlative evidence between (a) public sector reporting and (b) the needs and interests of the users of reports (Cohen and Karatzimas 2017).…”