Government Accounts the Government Finance Statistics Manual 2001
and the update of 1993 System of National Accounts
The Second
2006 BEA Government Statistics Users Conference
Washington, September 14, 2006 Lucie Laliberté
Deputy DirectorIMF Statistics Department
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Introduction GFSM 2001 and the TFHPSA
Update of SNA 93 International accounting standards Pilots on implementing GFSM 2001 Way forward
OutlineOutlineOutlineOutline
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IntroductionIntroductionIntroductionIntroduction
Government Finance Statistics Manual, 2001IMF Manual harmonized with SNA 93
Task Force on Harmonization of Public Sector Accounting (TFHPSA)chaired by the IMF with the OECD as Secretariat with international and national senior statisticians and senior accounting policy officials (Oct. 03--March 06)http://www.imf.org/external/np/sta/tfhpsa/2006/03/pdf/030806a.pdf
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Private/Public/Government statistical sector delineation based on a definition of control closer to that of accounting
Tax Revenue and Tax Credit
Special Purposes Entities and Restructuring agencies
Update of SNA 93Update of SNA 93Update of SNA 93Update of SNA 93
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Update of SNA 93 Update of SNA 93 (continued)(continued)Update of SNA 93 Update of SNA 93 (continued)(continued)
Guarantees
Transactions of government with its public corporations
Debt and Debt Reorganization
Chapter on government and public sector Continuous involvement in update process
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International Accounting StandardsInternational Accounting StandardsInternational Accounting StandardsInternational Accounting Standards
Extensive documentation on the International Public Sector Accounting Standards (IPSAS) and Government Statistical Guidelines
Development of a draft accounting standard on the General Government Sector (ED 28)
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Pilots on Pilots on GFSM 2001GFSM 2001Pilots on Pilots on GFSM 2001GFSM 2001
Objective—To Standardize the Framework for fiscal analysis
Outcome of November 2005 Board discussion:– Comprehensive framework of GFSM 2001 (3 Tables)
will support fiscal analysis– Use of GFSM 2001 will lead to greater transparency
and consistency– Support a phased implementation – Support pilot studies to illustrate usefulness
10 Countries identified for pilots (including USA) Process:
– Recast existing data sources– Identify data gaps – Collaborate with country authorities to improve data– Collaborate with FAD to review policy implications