 Ethical Government AccountingRahul Basu, Prashant Vaze and Ankita Navso Chari MPRA Paper from University Library of Munich, Germany Abstract: The System of National Accounts 2008 (SNA) and the Government Finance Statistics Manual 2014 (GFSM) are undergoing revision to better capture the extraction of mineral assets. We discuss current practices and the proposed changes and argue that they give a misleading picture of governments’ effectiveness as mineral owners in capturing the economic rent, leading to hidden wealth transfers to extractors. Case studies from Australia and Goa, India, illustrate the magnitude of wealth loss during the liquidation of mineral assets and the inadequacy of the current standards. The proposed split asset treatment could obscure potentially large and legally contentious wealth transfers. A case study based on Statistics Canada’s sectoral balance sheet illustrates this. Our suggestions align with the principle that mineral resources are inherited wealth, necessitating a stewardship role by mineral owners. We propose a framework that more accurately reflects impacts on national and public sector sustainability. Keywords: Public sector net worth; Sustainability; Exhaustible resources; Public sector accounting; Environmental accounting (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:123776 Access Statistics for this paper More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC. |
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