Accounting for government guarantees: perspectives on fiscal transparency from four modes of accounting

Government guarantees are increasingly important as a policy instrument in public infrastructure investment and to assist the banking and financial sectors following the global financial crisis. This paper analyses how different modes of accounting characterize such guarantees in the contexts of public sector financial reporting, statistical accounting, budgeting and long-term fiscal projections. Guarantees are difficult to specify for accounting treatment and consistent conceptualization of liabilities. These difficulties make it attractive for governments to treat obligations as off-budget and off-balance sheet contingent liabilities, rather than recognize them in financial statements and statistical accounts. Miller and Power’s territorializing, mediating, adjudicating and subjectivizing roles of accounting are utilized to analyse the reporting of UK government guarantees. Provisioning for guarantees is complex in financial reporting statements and often absent in national accounts, a deficiency which Eurostat has attempted to address by devising the concept of standardized guarantees and by securing more disclosure of contingent liabilities. There is potential for future research especially where there is greater mediation between the four modes of government accounting

Competency Implications of Changing Human Resource Roles

[Excerpt] The present study examines which competencies will be necessary to perform key human resource roles over the next decade at Eastman Kodak Company. This project was a critical component of an ongoing quality process to improve organizational capability. The results establish a platform that will enable Kodak to better assess, plan, develop, and measure the capability of human resource staff

Government accounting in the Global South: the design, implementation and use of global solutions for local needs

This chapter examines the impact of globalized accounting and economic reforms on the public sectors of the Global South, focusing particularly on the countries in Sub-Saharan Africa. Over the last three decades, people living in these countries have experienced debt crises, civil wars, coups and, on top of all that, externally imposed neoliberal economic reforms. Accounting has been an integral part of those imposed 'reforms'