Conceptual framework issues: Perspectives of Australian public sector stakeholders

Ralph Kober*, Janet Lee, Juliana Ng

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

    4 Citations (Scopus)

    Abstract

    Recent international developments have refuelled the debate on public sector conceptual framework issues. Drawing on the Australian experience, this study surveys stakeholders of public sector financial reports to examine issues of concern in the development of concepts, definitions and principles pertinent to a public sector conceptual framework. The empirical evidence reveals varying degrees of consensus to questions relating to the objectives of financial reporting, the boundaries of financial reporting and financial statement elements. Respondents are generally not supportive of a single conceptual framework for both private and public sectors. The study also draws on the practices from other countries to provide a more insightful analysis. The study informs the progress of the development of a public sector conceptual framework by highlighting areas that need attention and identifying challenges that exist for standard setters in the further development of a conceptual framework that meets the needs of the public sector.

    Original languageEnglish
    Pages (from-to)495-518
    Number of pages24
    JournalAccounting and Business Research
    Volume42
    Issue number5
    DOIs
    Publication statusPublished - 2012

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