정부회계제도의 개혁

Two Issues in Government Accounting : Accruals and Double-entry Bookkeeping

Establishing the true cost of resources in the government requires the use of commercial accounting principles. Commercial accounting involves preparing accruals in parallel with the cash-based vote accounts and using commercial principles. This paper tries to explain the policy and financial implications of the change into accruals accounting and some policy proposals for Korean government. In parallel with it, dual entry bookkeeping is discussed. Most transactions in governments are maintained on a single-entry basis, which is one of the main distinctions between government and commercial accounting. This paper discuss whether the introduction of double-entry bookkeeping contribute to the financial management in the government.