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Book Cover
Author Australia. Parliament. Joint Committee of Public Accounts and Audit

Title Asset management by Commonwealth agencies / Parliament of the Commonwealth of Australia Joint Committee of Public Accounts and Audit
Published Canberra : Joint Committee of Public Accounts and Audit, 1998


Location Call no. Vol. Availability
Description xiii, 50 pages ; 25 cm
Series Report ; 363
Australia. Parliament. Joint Committee of Public Accounts and Audit. Report ; 363
Parliamentary paper (Australia. Parliament) ; 1998, no. 141
Contents 1. Introduction -- 2. The new framework -- Introduction -- Accrual based management framework -- Financial Management and Accountability Act 1997 -- Accrual reporting -- Accrual budgeting -- Impact of the new framework -- Integration with other management processes -- Assessment of alternatives to asset ownership -- Fully costed outputs and outcomes -- Full life-cycle costing -- correct on-going valuation of assets -- Appropriate depreciation regimes -- Facilitating change in Commonwealth Asset management -- Central guidance to agencies -- The Committee's conclusion -- Best practice models -- 3. The management of assets -- Introduction -- The performance of agencies in managing assets -- Audit report no. 41, 1997-98 Asset management , The Committee's conclusion -- Towards better asset management -- Introduction -- Beyond accrual accounting and reporting -- A more strategic approach to asset management -- The Committee's conclusion -- 4. The potential for greater efficiencies -- Introduction -- Acquisition of assets -- Ownership of assets -- Recognising the cost of capital -- A capital use charge -- The Committee's conclusion -- Operation of assets -- Monitoring information technology equipment -- Internal charging arrangements -- The Committee's conclusion -- Asset disposal -- Potential savings from improved asset management -- Appendices
Summary Recommendations: (1) The Department of Finance and Administration and the Australian National Audit Office should jointly convene an Asset Management Forum The Forum should comprise interested Commonwealth agencies and should meet regularly, provided the need exists, to exchange information on asset management issues; (2) Measurement of the performance of the senior management, including Chief Executive Officers, of Commonwealth agencies should include reference to how efficiently and effectively assets under their control are managed; and (3) The annual reporting guidelines for Commonwealth agencies should be amended to require agencies to provide information indicating how efficiently and effectively agency-controlled assets have been managed
Analysis Accrual accounting
Asset management
Federal issue
Financial management
Government agencies
Notes "15976 Cat. No. 98 3202 0" -- Back cover
"July 1998"
Bibliography Includes bibliographical references
Notes Also published as a Parliamentary paper (Australia. Parliament); 141/1998
Commonwealth of Australia 1998
Subject Assets (Accounting)
Finance, Public -- Australia -- Management.
Government property -- Australia -- Management.
Public administration -- Australia.
Author Charles, Bob (Robert Edwin)
ISSN 0727-4181
ISBN 0642374325