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GOVERNMENT BALANCE SHEET

Statistics Directorate    
Definition:
A comprehensive statement of the assets, liabilities, and net worth (assets less liabilities) of government at a point in time —usually year-end. In practice, very few governments prepare statements of their financial position that could be described as balance sheets.

Context:
Adoption of accrual accounting reports and generally accepted methods of asset valuation are prerequisites for a reliable balance sheet presentation.

Source Publication:
IMF, 2007, Manual on Fiscal Transparency, IMF, Washington DC, Glossary.

Statistical Theme: Financial statistics

Created on Monday, July 23, 2007