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Bridging the GAAP across the UK public sector

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  • Sheila Ellwood

Abstract

Most of the UK public sector has made the transition to accruals based accounting e.g. central government departments, local government and the National Health Service. All have claimed an adherence to UK GAAP and it is intended to produce Whole of Government Accounts 2005/06 on a GAAP basis. This paper questions whether UK public sector accounting is really converging on GAAP and the extent to which there is comparability between the various parts of the public sector and between the public sector and the private sector. Using illustrations from the MoD, a local authority and a NHS trust, the compliance of public sector accounting practice with the Accounting Standard Board's Statement of Principles and reporting standards is investigated. The reasons for modifications to UK GAAP are then considered. It is concluded that the UK public sector is making unique and ad hoc adaptations to GAAP. These adaptations have been fragmentary and lack uniformity across the public sector. Furthermore, in its extensive use of current values the UK public sector could be argued to be ahead of the private sector rather than in alignment. Much work needs to be undertaken on an underpinning theoretical framework to enable accounting within and between the sectors to be bridged.

Suggested Citation

  • Sheila Ellwood, 2003. "Bridging the GAAP across the UK public sector," Accounting and Business Research, Taylor & Francis Journals, vol. 33(2), pages 105-121.
    • Handle: RePEc:taf:acctbr:v:33:y:2003:i:2:p:105-121
    DOI: 10.1080/00014788.2003.9729638
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    References listed on IDEAS

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    3. Anita Golovkova, 2020. "IFRS implementation in healthcare facilities in the United Kingdom: (un)intended effects [Implementace IFRS ve zdravotnických zařízeních ve Velké Británii - (ne)zamyšlené dopady]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2020(3-4), pages 53-70.
    4. Anita Golovkova, 2020. "IFRS implementation in healthcare facilities in the United Kingdom: (un)intended effects [Implementace IFRS ve zdravotnických zařízeních ve Velké Británii – (ne)zamyšlené dopady]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2020(3-4).
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    7. P. Windels & J. Christiaens, 2007. "The Adoption Of Accrual Accounting In Flemish Public Centres For Social Welfare: Examining The Importance Of Agents Of Change," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 07/451, Ghent University, Faculty of Economics and Business Administration.
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