From Governmental Accounting to National Accounting: implications on the Portuguese Central Government deficit
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Uploaded by Susana Jorge
Uploaded date: August 20, 2014
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Publication date
June 11, 2010
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Abstract
Based on the relevant differences between Governmental Accounting (GA/microeconomic perspective) and National Accounting (NA/macroeconomic
perspective) this paper examines the main adjustments made in Portugal to the General Government Sector data required to convert Governmental Accounts into National
Accounts. It also assesses the impact of those adjustments on the Central Government deficit, the largest share in the Portuguese public deficit.
Following mostly a qualitative research methodology, the empirical study is based on interviews to officials preparing NA and on several documental sources. The purpose is to validate the major data adjustments from GA into NA regarding Central Government, while, in addition, assessing their impact using data from April 2008 Excessive Deficit Procedure notification, covering the 2004-2007 period.
The main findings indicate that diferences concerning the accounting basis are the most relevant and that the subsequent adjustments have a considerable impact on the
Portuguese Central Government deficit. This research points therefore to the need for more convergence between GA and NA, namely with respect to the transactions
recognition criteria in order to use a common accounting basis, and for a complete and coherent reporting information system in GA.
perspective) this paper examines the main adjustments made in Portugal to the General Government Sector data required to convert Governmental Accounts into National
Accounts. It also assesses the impact of those adjustments on the Central Government deficit, the largest share in the Portuguese public deficit.
Following mostly a qualitative research methodology, the empirical study is based on interviews to officials preparing NA and on several documental sources. The purpose is to validate the major data adjustments from GA into NA regarding Central Government, while, in addition, assessing their impact using data from April 2008 Excessive Deficit Procedure notification, covering the 2004-2007 period.
The main findings indicate that diferences concerning the accounting basis are the most relevant and that the subsequent adjustments have a considerable impact on the
Portuguese Central Government deficit. This research points therefore to the need for more convergence between GA and NA, namely with respect to the transactions
recognition criteria in order to use a common accounting basis, and for a complete and coherent reporting information system in GA.
Preferred Citation
JESUS, M. Antónia; JORGE, Susana (2010); From Governmental Accounting to National Accounting: implications on the Portuguese Central Government deficit; Notas Económicas, 31, Faculdade de Economia da Universidade de Coimbra, pp.24-46.
Keywords
Budgetary reporting; National Accounts; Adjustments; Public deficit.
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Other
Type of Paper
Published paper
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