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Accounting for Public Sector Assets: Comparing Historical Cost and Current Value Models

Yuri Biondi (Paris Dauphine University, France)
Lasse Oulasvirta (Tampere University, Finland)

Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence

ISBN: 978-1-80117-162-5, eISBN: 978-1-80117-161-8

Publication date: 20 March 2023

Abstract

Recognition, measurement and disclosure of public sector assets constitute relevant matters for national and international public sector accounting standard-setting. This chapter develops a theoretical analysis drawing upon a dualistic approach contrasting current value and historical cost accounting models. Accordingly, the latter should be adapted and then preferred to cope with public sector specificities, with a view to providing information for and enforcing accountability to citizens and their political representatives. Drawing upon this theoretical setting, our analysis develops a consistent design for the overarching conceptual framework for assets in general, providing illustrative examples for specific categories such as financial, heritage, natural and military assets.

Keywords

Citation

Biondi, Y. and Oulasvirta, L. (2023), "Accounting for Public Sector Assets: Comparing Historical Cost and Current Value Models", Caruana, J., Bisogno, M. and Sicilia, M. (Ed.) Measurement in Public Sector Financial Reporting: Theoretical Basis and Empirical Evidence (Emerald Studies in Public Service Accounting and Accountability), Emerald Publishing Limited, Leeds, pp. 39-62. https://doi.org/10.1108/978-1-80117-161-820231003

Publisher

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Emerald Publishing Limited

Copyright © 2023 Yuri Biondi and Lasse oulasvirta