If a government chooses to implement public sector accounting standards, in almost all cases it will imply a significant increase in accounting effort, and the reason for that is quite simple: because most governments account extremely badly for all of their financial transactions. Implementing the set of standards generally, and this one in particular, would mean that governments would have to improve their accounting systems. |
The benefits are to people who are trying to use information about the fiscal position and fiscal performance of governments. The primary purpose of this standard is to get better consistency in the way taxes are reported and better quality of reporting, in the sense that they would be reporting more accurately to reflect the real economic resource flows associated with taxes. |
There's always been a certain ragged glory to Gomez. ?How We Operate? retains and revitalizes that glory - and presents it in a more immediately gripping form. This is certainly the most cohesive record we've made. And yet it remains stylistically genre-less. |