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But governments don't provide ¿ or use ¿ basic financial information that every business is required to maintain. They ignore the value of public assets and most liabilities. This leads to inefficiency and bad decision-making and piles up problems for the future.
Governments need to create balance sheets that properly reflect assets and liabilities, and to understand their future obligations and revenue prospects. Net Worth ¿ both today and for the future ¿ should be the measure of financial strength and success.
Only if this information is put at the centre of government financial decision-making can the present challenges to public finances around the world be addressed effectively, and in a way that is fair to future generations.
The good news is that there are ways to deal with these problems and make government finances more resilient and fairer to future generations.
The facts, and the solutions, are non-partisan, and so is this book. Responsible leaders of any political persuasion need to understand the issues and the tools that can enable them to deliver policy within these constraints.
But governments don't provide ¿ or use ¿ basic financial information that every business is required to maintain. They ignore the value of public assets and most liabilities. This leads to inefficiency and bad decision-making and piles up problems for the future.
Governments need to create balance sheets that properly reflect assets and liabilities, and to understand their future obligations and revenue prospects. Net Worth ¿ both today and for the future ¿ should be the measure of financial strength and success.
Only if this information is put at the centre of government financial decision-making can the present challenges to public finances around the world be addressed effectively, and in a way that is fair to future generations.
The good news is that there are ways to deal with these problems and make government finances more resilient and fairer to future generations.
The facts, and the solutions, are non-partisan, and so is this book. Responsible leaders of any political persuasion need to understand the issues and the tools that can enable them to deliver policy within these constraints.
Ian Ball
Ian is an Adjunct Professor at the Wellington School of Business and Government at Victoria University of Wellington, New Zealand. He served as the Director of Financial Management Policy and Central Financial Controller at the New Zealand Treasury. He is credited with being the principal architect of the New Zealand Government's financial management reform process, leading to the passage of the Public Finance Act 1989. This made New Zealand the first government to introduce modern accrual accounting and integrate that with the budget and appropriation processes. He also initiated and lead the development of the International Public Sector Accounting Standards (IPSAS) while Chair of the International Federation of Accountant's Public Sector Committee.
Willem Buiter
Currently an Adjunct Senior Fellow at the Council on Foreign Relations. He was the Global Chief Economist at Citigroup, Chief Economist at the EBRD and an original member ofthe Monetary Policy Committee of the Bank of England. He was the Juan T. Trippe Professor of International Economics at Yale University. He held academic appointments at the London School of Economics, Cambridge University, the University of Bristol, and Princeton University. He is the author of 78 refereed articles in professional journals and seven books.John Crompton
John began his career as a civil servant in HM Treasury in the mid-1980s before joining Morgan Stanley, where he worked as an investment banker in London, New York, and Hong Kong. In 2005 - 07 he was seconded back to HMT as its Senior Corporate Finance Advisor, and from 2008 - 2010 was Head of Market Investments at UKFI, responsible for the government's investments in Lloyds Banking Group and RBS (now NatWest). More recently, he worked for HSBC for several years and is now a non-executive director, adviser and fintech investor.
Dag Detter
Dag advises private and public sector clients across the world on the unlocking of value from public assets. He led the comprehensive restructuring of Sweden's [...]bn national portfolio of commercial assets, the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This led to a value increase of the portfolio twice that of the local stock market and helped boost economic growth and fiscal space. He is the author of 'The Public Wealth of Nations' - The Economist and Financial Times' best book of the year and 'The Public Wealth of Cities'.
Jacob Soll
Jacob Soll is a University Professor and Professor of Philosophy, History, and Accounting at the University of Southern California and has taught at Princeton, Rutgers, and Cambridge Universities. The winner of many prestigious prizes, including a MacArthur "Genius" Grant, Soll's work examines the mechanics of politics, statecraft, and economics by dissecting how modern states and political systems succeed and fail. He is the author of several books, including his best-selling The Reckoning: Financial Accountability and the Rise and Fall of Nations (2014), which presents a sweeping history of accounting and politics, drawing on a wealth of examples from over a millennium of human history to reveal how accounting can used to both build kingdoms, empires and entire civilisations, but also to undermine them. It explains the origins of our financial crisis as deeply rooted in a long disconnect between human beings and their attempts to manage financial numbers.PART 1. PURPOSE AND PROLOGUE.- Chapter 1. Owning and Owing.- Chapter 2. From Warfare to Welfare in Three Generations.- PART 2. ACCOUNTING FOR GOVERNMENT.- Chapter 3. Why Government Accounting Matters.- Chapter 4. What Does the Government Balance Sheet Look Like?.- Chapter 5. Why Accrual Accounting Matters.- Chapter 6. Accrual Accounting - How it Works in Practice.- Chapter 7. Central Banks and the Public Sector Balance Sheet.- Chapter 8. Looking to the Future: The Comprehensive Balance Sheet.- Chapter 9. Comparison of Public Sector Balance Sheets.- Chapter 10. Comparison of Comprehensive Balance Sheets.- Chapter 11. Review of Fiscal Rules.- PART 3. MANAGING PUBLIC COMMERCIAL ASSETS AND LIABILITIES.- Chapter 12. Finding, Understanding and Valuing Public Commercial Assets.- Chapter 13. The Asset Map: A Shortcut to Understanding Property Holdings Better.- Chapter 14. Institutionalising Asset Management.- Chapter 15. What Should Governments Do with Public Commercial Assets?.- Chapter 16. Managing Assets Better: The Role of Public Wealth Funds.- Chapter 17. Pensions and Other Liabilities: The Benefits of Disclosure and Management.- PART 4. PAST, PRESENT AND FUTURE.- Chapter 18. Balance Sheets, Culture and National Achievement in Europe 1560 - 1834.- Chapter 19. How Accounting Can Save Democracy.- Chapter 20. Implementing Change.
Erscheinungsjahr: | 2024 |
---|---|
Fachbereich: | Volkswirtschaft |
Genre: | Recht, Sozialwissenschaften, Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: |
xxv
343 S. 52 s/w Illustr. 343 p. 52 illus. |
ISBN-13: | 9783031443428 |
ISBN-10: | 303144342X |
Sprache: | Englisch |
Ausstattung / Beilage: | HC runder Rücken kaschiert |
Einband: | Gebunden |
Autor: |
Ball, Ian
Buiter, Willem Soll, Jacob Detter, Dag Crompton, John |
Auflage: | 1st ed. 2024 |
Hersteller: |
Springer Nature Switzerland
Springer International Publishing AG |
Maße: | 216 x 153 x 25 mm |
Von/Mit: | Ian Ball (u. a.) |
Erscheinungsdatum: | 16.02.2024 |
Gewicht: | 0,593 kg |
Ian Ball
Ian is an Adjunct Professor at the Wellington School of Business and Government at Victoria University of Wellington, New Zealand. He served as the Director of Financial Management Policy and Central Financial Controller at the New Zealand Treasury. He is credited with being the principal architect of the New Zealand Government's financial management reform process, leading to the passage of the Public Finance Act 1989. This made New Zealand the first government to introduce modern accrual accounting and integrate that with the budget and appropriation processes. He also initiated and lead the development of the International Public Sector Accounting Standards (IPSAS) while Chair of the International Federation of Accountant's Public Sector Committee.
Willem Buiter
Currently an Adjunct Senior Fellow at the Council on Foreign Relations. He was the Global Chief Economist at Citigroup, Chief Economist at the EBRD and an original member ofthe Monetary Policy Committee of the Bank of England. He was the Juan T. Trippe Professor of International Economics at Yale University. He held academic appointments at the London School of Economics, Cambridge University, the University of Bristol, and Princeton University. He is the author of 78 refereed articles in professional journals and seven books.John Crompton
John began his career as a civil servant in HM Treasury in the mid-1980s before joining Morgan Stanley, where he worked as an investment banker in London, New York, and Hong Kong. In 2005 - 07 he was seconded back to HMT as its Senior Corporate Finance Advisor, and from 2008 - 2010 was Head of Market Investments at UKFI, responsible for the government's investments in Lloyds Banking Group and RBS (now NatWest). More recently, he worked for HSBC for several years and is now a non-executive director, adviser and fintech investor.
Dag Detter
Dag advises private and public sector clients across the world on the unlocking of value from public assets. He led the comprehensive restructuring of Sweden's [...]bn national portfolio of commercial assets, the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate. This led to a value increase of the portfolio twice that of the local stock market and helped boost economic growth and fiscal space. He is the author of 'The Public Wealth of Nations' - The Economist and Financial Times' best book of the year and 'The Public Wealth of Cities'.
Jacob Soll
Jacob Soll is a University Professor and Professor of Philosophy, History, and Accounting at the University of Southern California and has taught at Princeton, Rutgers, and Cambridge Universities. The winner of many prestigious prizes, including a MacArthur "Genius" Grant, Soll's work examines the mechanics of politics, statecraft, and economics by dissecting how modern states and political systems succeed and fail. He is the author of several books, including his best-selling The Reckoning: Financial Accountability and the Rise and Fall of Nations (2014), which presents a sweeping history of accounting and politics, drawing on a wealth of examples from over a millennium of human history to reveal how accounting can used to both build kingdoms, empires and entire civilisations, but also to undermine them. It explains the origins of our financial crisis as deeply rooted in a long disconnect between human beings and their attempts to manage financial numbers.PART 1. PURPOSE AND PROLOGUE.- Chapter 1. Owning and Owing.- Chapter 2. From Warfare to Welfare in Three Generations.- PART 2. ACCOUNTING FOR GOVERNMENT.- Chapter 3. Why Government Accounting Matters.- Chapter 4. What Does the Government Balance Sheet Look Like?.- Chapter 5. Why Accrual Accounting Matters.- Chapter 6. Accrual Accounting - How it Works in Practice.- Chapter 7. Central Banks and the Public Sector Balance Sheet.- Chapter 8. Looking to the Future: The Comprehensive Balance Sheet.- Chapter 9. Comparison of Public Sector Balance Sheets.- Chapter 10. Comparison of Comprehensive Balance Sheets.- Chapter 11. Review of Fiscal Rules.- PART 3. MANAGING PUBLIC COMMERCIAL ASSETS AND LIABILITIES.- Chapter 12. Finding, Understanding and Valuing Public Commercial Assets.- Chapter 13. The Asset Map: A Shortcut to Understanding Property Holdings Better.- Chapter 14. Institutionalising Asset Management.- Chapter 15. What Should Governments Do with Public Commercial Assets?.- Chapter 16. Managing Assets Better: The Role of Public Wealth Funds.- Chapter 17. Pensions and Other Liabilities: The Benefits of Disclosure and Management.- PART 4. PAST, PRESENT AND FUTURE.- Chapter 18. Balance Sheets, Culture and National Achievement in Europe 1560 - 1834.- Chapter 19. How Accounting Can Save Democracy.- Chapter 20. Implementing Change.
Erscheinungsjahr: | 2024 |
---|---|
Fachbereich: | Volkswirtschaft |
Genre: | Recht, Sozialwissenschaften, Wirtschaft |
Rubrik: | Recht & Wirtschaft |
Medium: | Buch |
Inhalt: |
xxv
343 S. 52 s/w Illustr. 343 p. 52 illus. |
ISBN-13: | 9783031443428 |
ISBN-10: | 303144342X |
Sprache: | Englisch |
Ausstattung / Beilage: | HC runder Rücken kaschiert |
Einband: | Gebunden |
Autor: |
Ball, Ian
Buiter, Willem Soll, Jacob Detter, Dag Crompton, John |
Auflage: | 1st ed. 2024 |
Hersteller: |
Springer Nature Switzerland
Springer International Publishing AG |
Maße: | 216 x 153 x 25 mm |
Von/Mit: | Ian Ball (u. a.) |
Erscheinungsdatum: | 16.02.2024 |
Gewicht: | 0,593 kg |