The paper describes the process that took Australian Local Councils to a business-like accounting and highlights the role played in it by the accounting profession. Taken over by the Government in the standard setting process for the private sector, the Australian accounting profession set up...

A recent research of the Italian Corte dei Conti has shown as most local government owned companies are not a going concern on their own. They are often unable to reach the economic break even and their continuity depends on shareholders' ability to periodically pay in new fresh capital. But...

Tangible Capital Assets, even if often explaining the largest part of the resources managed by public sector reporting entities, stay outside the scope of the cash based reporting system that has long prevailed and still prevails in that sector. Therefore, when those entities have started to...