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What Is A Public‐Sector Asset?
Author(s) -
Burritt Roger L.,
McCrae Michael,
Benjamin Chandra
Publication year - 1996
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/j.1835-2561.1996.tb00004.x
Subject(s) - public sector , accounting , identification (biology) , asset (computer security) , business , government (linguistics) , tertiary sector of the economy , public service , finance , economics , public relations , marketing , political science , computer science , linguistics , philosophy , botany , economy , computer security , biology
Accounting standards and government pronouncements specify particular definitions of public‐sector assets for general‐purpose financial disclosure, or for particular applications. It would be unfortunate if this situation of mandated definitions stifled further exploration and discussion of the nature, definition and identification of public‐sector assets. As the trend to commercialisation generates further hybrid forms of public‐sector reporting entities, a more “multicultural” approach to asset definition and recognition may be necessary to service users' decision needs and public‐sector objectives. This paper explores implications for the practical definition of public‐sector assets.