The Measurement of Income and Expenditure: Comparing Public Accounts and National Accounts

Abstract

The objective of this chapter is to compare the measurement bases of income and expenditures found in International Public Sector Accounting Standards (IPSAS) used in Public Accounts with those in the statistical rules used in National Accounts/Government Finance Statistics (GFS). Both frameworks apply an accrual methodology, but, while some governments appear dubious about adopting the IPSAS framework, the National Accounts framework is more ‘tried and tested’ for government financial reporting on an international scale. The practical application of the accrual methodology in the two frameworks differs to a certain extent. These differences provide learning opportunities for both frameworks.

Citation

Dabbicco, G. and Caruana, J. (2023), "The Measurement of Income and Expenditure: Comparing Public Accounts and National Accounts", 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. 105-129. https://doi.org/10.1108/978-1-80117-161-820231006