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Accounting for the Business of Government—New Goals, Old Myths
Author(s) -
Mosso David
Publication year - 1999
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1046/j.0275-1100.1999.01179.x
Subject(s) - accounting , management accounting , performance measurement , audit , cites , incentive , work (physics) , mythology , government (linguistics) , business , economics , marketing , engineering , mechanical engineering , philosophy , linguistics , theology , fishery , biology , microeconomics
This article includes the remarks made by David Mosso, Chairman of the Federal Accounting Standards Advisory Board, at the 1998 AICPA National Governmental Accounting and Auditing Update meeting. The article dispels notions of management by slogan and old myths about both government and business accounting regarding their stereotypical performance measurement techniques (ie., profit driven versus politically and socially driven performance measures) Four elements of effective performance measurement are outlined and include a comprehensive measurement system, management process, incentive structure, and an independent audit facility. The article cites various observations pertaining to each of the elements outlined. The major hurdles of successful performance measurement ultimately require hard work and inspired leadership to be overcome.