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Umfang: 1 online resource (349 pages)

Ausgabe: 1st ed.

ISBN: 3-031-44343-8

Anmerkung: Intro -- Foreword -- Acknowledgements -- Contents -- About the Authors -- List of Figures -- List of Tables -- Part I: Purpose and Prologue -- 1: Purpose and Prologue -- 1.1 Owning and Owing -- 1.2 The Question at the Heart of Government Finance…Where Is the Balance Sheet? -- 1.3 The Importance of History, and Historical Importance -- 1.4 Why Accounting Is Important for Democracy -- 1.5 Eighteenth Century Tools, Twenty-First Century Fiscal Rules -- 1.6 Credit Risk or Inflation Risk? What Happens When Government Finances Go Wrong -- 1.7 Delivering Better Public Services, More Efficiently -- 1.8 Which Balance Sheet Are We Talking About? -- 1.9 Why the G7 Focus? -- 1.10 Conclusion -- 2: From Warfare to Welfare in Three Generations -- 2.1 The Evolution of Public Finances over 300 Years -- 2.2 Bismarck and the Foundations of the Welfare State -- 2.3 The Impact of the Welfare State on Public Finances -- 2.4 Conclusion -- Part II: Accounting for Government -- 3: Accounting for Government -- 3.1 Why Government Accounting Matters -- 3.2 Governments Are Important -- 3.3 The Direct Impact of Government Is Far Greater Than Service Provision -- 3.4 Indirect Impact of Government -- 3.5 The Scale and Complexity of Government -- 3.6 Governments Need to Be Well-Managed -- 3.7 Government Finances Are Also Large and Complex -- 3.8 Conclusion -- 4: What Does the Government's Balance Sheet Look Like? -- 4.1 Net Worth -- 4.2 Reading the New Zealand Government's Balance Sheet -- 4.3 Classifying Assets and Liabilities by Purpose -- 4.4 Managing Government Assets -- 4.5 Liabilities on the Government Balance Sheet -- 4.6 Conclusion -- 5: Why Accrual Accounting Matters -- 5.1 Financial Decision-Making in Government -- 5.2 The Required Information Reflects the Complexity of the Government's Finances. , 5.3 Why Accrual Accounting Is So Important -- 5.4 The Cash Basis for Accounting -- 5.5 Accrual Accounting Is Different -- 5.6 The Balance Sheet Is Critical -- 5.7 Limitations of the Conventional Balance Sheet -- 5.8 The Importance of Timely Information -- 5.9 Conclusion -- 6: Accrual Accounting - A Glimpse of How it Works in Practice -- 6.1 A Week in the Life of a Small Government -- 6.2 Accrual Information for Decision-Making -- 6.3 The Need to Account for Assets -- 6.4 Decisions and Incentives -- 6.5 Accrual Information at the Heart of the Financial Management System -- 6.6 Conclusion -- 7: Central Banks and the Public Sector Balance Sheet -- 7.1 Central Bank Structure and Ownership -- 7.2 A Free Lunch? Money as an Irredeemable Liability, and "Seigniorage" -- 7.3 Central Bank Activity and Its Impact on the Public Sector Balance Sheet -- 7.4 Conclusion -- 8: Looking to the Future: The Comprehensive Balance Sheet -- 8.1 Building the Comprehensive Balance Sheet -- 8.2 Comprehensive Balance Sheet: Prediction or Planning Tool? -- 8.3 What Does a Solvent - or Insolvent - Comprehensive Balance Sheet Look Like? -- 8.4 New Zealand's Comprehensive Balance Sheet Approach -- 8.5 Constructing the Comprehensive Balance Sheet - and Why Does It Matter? -- 8.6 Orders of Magnitude: What Really Matters? -- 8.7 Conclusion -- 9: Comparison of Public Sector Balance Sheets -- 9.1 The IMF: Promoting Better Public Sector Financial Management -- 9.2 Assets Versus Liabilities -- 9.3 What Assets Do Governments Own? -- 9.4 Debt - and Other Liabilities -- 9.5 Getting to the Bottom Line - The Importance of Net Worth -- 9.6 Focus on the G7: Overview -- 9.7 G7 Public Sector Balance Sheet Comparisons -- 9.8 How Did G7 Countries Get to This Position? -- 9.9 Conclusion -- 10: Comparison of Comprehensive Balance Sheets. , 10.1 Evaluating the Comprehensive Balance Sheet: The IMF Framework -- Base Year -- Key Drivers of Cost and Revenue Assumptions -- Outputs -- 10.2 Sustainability of Public Finances: What the Model Tells Us -- 10.3 An Alternative Source: The UK Office for Budget Responsibility -- 10.4 A View Through Time - Can Adjustments Be Made? -- 10.5 Who's Got the Bill? The Welfare State and Intergenerational Fairness -- 10.6 "Markets Versus Morons": Do Financial Markets Take Financial Sustainability Into Account? -- 10.7 Conclusion -- 11: Fiscal Rules -- 11.1 Fiscal Rules: What Are They? -- 11.2 The UK and EU Examples -- 11.3 IMF on Fiscal Rules -- 11.4 New Zealand as an Exception - The Fiscal Responsibility Act 1994 -- 11.5 Principles of Responsible Fiscal Management -- 11.6 The Fiscal Outcomes -- 11.7 Conclusion -- Part III: Managing Public Commercial Assets and Liabilities -- 12: Finding, Understanding, and Valuing Public Commercial Assets -- 12.1 Assets, What Assets? -- 12.2 What Are Public Commercial Assets? -- 12.3 Hidden Assets - A Missed Opportunity -- Rio de Janeiro's Escola Municipal Cicero Pena and Best Use -- The US Federal Government Owns a Third of the Country -- City of Pittsburgh Real Estate Portfolio - 70 Times Undervalued -- 12.4 An Alternative Source of Funding for US Infrastructure Investments -- Transport for London - and "Levelling Up" in the UK -- 12.5 Governments Are Hiding Assets -- "The Fastest Road to Become Rich - Buy Public Commercial Assets" -- UK Government Real Estate - By Far the Most Significant Element of the British Government's Divestitures -- 12.6 Conclusion -- 13: The Asset Map: A Shortcut to Understanding Property Holdings -- 13.1 The Politics of Asset Maps and Improved Transparency -- Is the Government Taking the Lead? -- Catch-22 and the Rating Agencies. , IMF and World Bank-Debt Sustainability Analysis -- 13.2 The Mechanics of an Asset Map -- Desk-Top Analysis -- 13.3 Process -- Collaborative Analysis -- 13.4 Conclusion -- 14: Institutionalising the Management of Public Wealth -- 14.1 Separating Wealth Management from Policymaking Has Historical Roots -- 14.2 Competition at the Heart of Economic Policy -- 14.3 Public Service Obligations and Other Subsidies -- 14.4 Efficient Capital Allocation -- 14.5 Why Consolidating Ownership of Public Commercial Assets Is Critical -- 14.6 The Ministry of Finance Is the Natural Custodian of Governance -- 14.7 Transfer of Wealth to Future Generations -- 14.8 The Mechanics of Setting Up a Holding Company -- 14.9 Conclusion -- 15: What Should Governments Do with Public Commercial Assets? -- 15.1 The Opportunity Cost of Not Managing Public Commercial Assets -- Public Assets Are Less Productive Than Private -- Sale of Public Commercial Assets -- 15.2 The example of UK Water -- Regulation and Accounting Is Key -- New Zealand and Net Worth -- 15.3 State Capitalism on the Rise -- China, the World's Most Extensive Laboratory for State Capitalism -- The Washington Consensus -- 15.4 Swedish Experiment-As If Owned by Private Shareholders -- Euro Crisis Calls for Reform of Public Assets -- 15.5 Political Will Is Key -- Singapore Moved the Economy from Developing to Developed Status in a Single Generation -- 15.6 Conclusion -- 16: Managing Assets Better: The Role of Public Wealth Funds -- 16.1 Necessity Is the Mother of Invention -- 16.2 Local Government Development -- 16.3 Even Selling Assets Requires a Professional Institution -- Securum-The Swedish Experience -- 16.4 Principles for Governing Public, Commercial Assets -- 16.5 Recruiting the Supervisory Board -- 16.6 Setting Up the Management Team -- 16.7 The Basics of Developing Public Commercial Assets. , 16.8 A Holding Company Is a Tool That Can Be Used for Good or Bad -- 16.9 Singapore-Improving the Net Worth for Future Generations -- 16.10 Conclusion -- 17: Pensions and Other Liabilities: The Benefits of Disclosure and Management -- 17.1 How Pensions Appear on the Public Sector Balance Sheet -- 17.2 The Magnitude of Pensions Obligations on the Public Sector Balance Sheet -- 17.3 Why Accounting Properly for Pensions Matters -- 17.4 Out of Sight, Out of Mind -- 17.5 Do Government Pension Commitments Represent Value for Money? -- 17.6 Should Governments Borrow to Invest? -- 17.7 Is this a "Free Lunch"? -- 17.8 Institutional Structures, Policy Implications -- 17.9 Conclusion -- Part IV: Past, Present and Future -- 18: Balance Sheets, Culture and National Achievement in Europe 1560-1834 -- 18.1 Balancing the Books of the First Global Empire -- 18.2 Reclaiming the Land: Dutch Accounting Culture and the Birth of a Nation -- 18.3 Polders to Plutocrats: Dutch Accounting Culture and the Birth of Modern Capitalism -- 18.4 Dutch Accounting Culture: Philosophy, Politics and Economics -- 18.5 Accounting and Autocracy in Seventeenth Century France -- 18.6 Political Arithmetic in Eighteenth Century Britain -- 18.7 "Scarcely Susceptible of Melioration": Accounting Systems in Post Napoleonic France and Britain -- 18.8 Conclusion -- 19: How Accounting Can Save Democracy -- 19.1 Complex, Big and Growing: The Problem in Government Finances -- 19.2 Accounting, Fiscal Rules and Financial Management: Why Net Worth Matters -- 19.3 Intergenerational Fairness -- 19.4 History, Accounting and Democracy -- 19.5 Can We Rely on Markets to Regulate Government Finances? -- 19.6 Accounting and Management -- 19.7 Conclusion: Saving Democracy -- 20: Implementing Change -- 20.1 A Common Programme for Change. , 20.2 How Implementation Plans Will Differ Between Countries.

Weitere Ausg.: ISBN 3-031-44342-X

Sprache: Englisch