A Summary of Selected CBO Reports on Cash and Accrual Budgeting: Working Paper 2019-09
Megan Carroll and
No 55672, Working Papers from Congressional Budget Office
Federal retirement programs and some federal insurance programs have long-term effects on the budget. But the federal budget process typically uses cash-based accounting measures that cover a 10-year period, which may be too short to accurately report those programsâ€™ net budgetary effects over the long term. In contrast, using accrual accounting for such programs would accelerate the recognition of long-term costs and would display the expected costs of new commitments when they were incurred and thus were most controllable. However, such estimates are less transparent and
JEL-codes: G00 H50 H60 H61 H81 H83 J32 J45 (search for similar items in EconPapers)
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