| Description |
1 online resource (17 pages) |
| Series |
IMF Working Papers ; WP/16/95 |
|
IMF working paper ; WP/16/95.
|
| Contents |
Cover; Contents; I. Introduction; II. An Overview of Changes in Accounts and GFS; III. Specific assets and liabilities; IV. Conclusion; Tables; 1. GFS for General Government: Nature of Accounts, 2003 and 2013; 2. Availability of Accrual Accounts for Central Government; 3. Selected Features of Available Accrual Accounts; 4. GFS for General Government: Other Accounts Receivable and Payable; 5. GFS for General Government: Nonfinancial Assets; 6. GFS for General Government: Financial Derivatives; 7. GFS for General Government: Pensions for Government Employees |
|
8. Summary of Recognition in 2003 and 20139. Availability of Projections of Deficit or Debt of at Least 30 Years; Figure; 1. Comprehensiveness of GFS for Advanced Economies, 2003-13; References |
| Summary |
When rights and obligations are not recognized as assets and liabilities on a government's balance sheet, the government's deficit can be reduced by selling off-balance-sheet assets or incurring off-balance-sheet liabilities. This paper examines how much progress has been made in recognizing assets and liabilities and thus dispelling the fiscal illusions that such transactions create. Looking at the accounts, government-finance statistics, and long-term fiscal projections produced in 28 advanced economies in the period since 2003, it finds good progress in the recognition of some assets and liabilities, such as accounts payable and simple financial assets, but much less in others, such as civil-service pensions |
| Notes |
"At head of title: Fiscal Affairs Department" |
| Bibliography |
Includes bibliographical references (pages 14-16) |
| Notes |
Print version record |
| Subject |
Asset-liability management -- Developed countries
|
|
Financial statements -- Developed countries
|
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Accrual basis accounting -- Developed countries
|
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Accrual basis accounting
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Asset-liability management
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Financial statements
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Developed countries
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| Form |
Electronic book
|
| Author |
International Monetary Fund. Fiscal Affairs Department, issuing body.
|
| ISBN |
1475552823 |
|
9781475552829 |
|
