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Governmental accounting and financial management in practice: current trends and country experiences

In: Research Handbook on Public Financial Management

Author

Listed:
  • Qiushi Wang
  • Shaodong Zhu

Abstract

As a result of the global financial crisis and the subsequent sovereign debt crisis, governments and other public sector entities around the world are having to face subnational pressure due to restricted budgets, significant debts and stagnant economies. This context creates a direct challenge to governments to improve management of resources and report high-quality information to the general public. More than ever, public sector entities and their stakeholders need to understand the full, long-term economic impact of their decisions on financial performance, financial position and cash flows. Situated in this changing context and recognizing the great diversity in accounting practices around the world, this chapter overviews current trends in government accounting and summarizes country experiences in three broad categories. The aim of this chapter is to provide readers with a brief yet holistic view of current development of public accounting practices in a global perspective.

Suggested Citation

  • Qiushi Wang & Shaodong Zhu, 2023. "Governmental accounting and financial management in practice: current trends and country experiences," Chapters, in: Komla Dzigbede & W. B. Hildreth (ed.), Research Handbook on Public Financial Management, chapter 5, pages 77-94, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:20388_5
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    File URL: https://www.elgaronline.com/doi/10.4337/9781800379718.00015
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