| Article ID: | iaor20072672 |
| Country: | United States |
| Volume: | 18 |
| Issue: | 1 |
| Start Page Number: | 1 |
| End Page Number: | 26 |
| Publication Date: | Jan 2005 |
| Journal: | Journal of Public Budgeting, Accounting and Financial Management |
| Authors: | Cortes Josep L. |
| Keywords: | management, economics |
In this paper an analysis is made of significant accounting and budgetary reforms that have recently been introduced within the framework of a broader reform called New Public Management. These reforms have led to the adoption of the accrual basis in accounting in many developed countries (i.e. the effects of transactions or events are recognised when they take place, irrespective of the moment when cash is paid or received). However, in 2003 it has only been adopted in budgeting by three of them: New Zealand, Australia and the United Kingdom. In this paper the international situation is analyzed with a view to the future adoption of the accrual basis in budgeting.