MACMILLAN Practice-Relevant Accrual Accounting for the Public Sector: Producers’ and Users’ Perspectives (Public Sector Financial Management)

This book addresses the necessary developments and adjustments that can be regarded as a promising starting point for making accrual accounting a more practice-relevant for the public sector entities. Specifically, the main focus is on Reshaping the application of accrual accounting principles and assumptions to fit the context of public sector entities; Developing a practice-relevant holistic accounting approach for governmental capital assets, which has been based on developing and reshaping the assets recognition criteria; Scope of general purpose financial reporting from an accountability perspective; Suggesting a sustainable accounting approach for reporting on the long-term fiscal sustainability; Developing a dynamic model for making public sector accrual accounting a more user practice relevant; and finally, Developing a theory of accounting information usefulness, which explains how cognitive aspects do influence the use/non-use of accounting information by the politicians. Fundamentally, the book has tackled these necessary developments and adjustments from both the producer’s and the user’s perspectives. Review ‘This book is a must read for those individuals interested in establishing a conceptual base of accounting for the public sector. At the present time, the concepts for the public sector are based on those applied in the private sector. The author challenges this approach since these concepts rely on a profit motive.  Profits are not applicable to the public sector (except for public corporations). The author has done thorough research to support the reasoning for a more practice relevant approach and fill the gap in the literature between the concepts for accounting in the public sector and the private sector. Academicians should be at the leading edge of thinking as they adapt to the increased emphasis on technology. This landmark book fills that conceptual void for the public sector’.   ―Jesse Hughes, Professor Emeritus of Accounting, Old Dominion University, Norfolk, Virginia, USA From the Back Cover This book addresses the necessary developments and adjustments that can be regarded as a promising starting point for making accrual accounting more practice-relevant for the public sector entities. Specifically, the main focus is on reshaping the application of accrual accounting principles and assumptions to fit the context of public sector entities; developing a practice-relevant holistic accounting approach for governmental capital assets, which has been based on developing and reshaping the assets recognition criteria; scope of general purpose financial reporting from an accountability perspective; suggesting a sustainable accounting approach for reporting on the long-term fiscal sustainability; developing a dynamic model for making public sector accrual accounting a more user practice relevant; and finally, developing a theory of accounting information usefulness, which explains how cognitive aspects do influence the use/non-use of accounting information by the politicians. Fundamentally, this book has tackled these necessary developments and adjustments from both the producer’s and the user’s perspectives. Hassan Ouda is Professor of Accounting at Faculty of Management Technology, German University in Cairo (GUC), Egypt. His research interests include public sector accounting and budgeting reform, particularly in relation to implementation of accrual accounting and budgeting, performance-based budgeting, and performance audit in public sector. About the Author Hassan Ouda is a Professor of Accounting at Faculty of Management Technology, German University in Cairo (GUC), Egypt. His research interests include public sector accounting and budgeting reform, particularly in relation to implementation of accrual accounting and budgeting, performance-based budgeting, and performance audit in public sector.