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Accounting for Tangible Capital Assets - Discussion Papera
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Staff contact
J. Paul-Émile Roy, CA
research.studies@cica.ca
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Executive Overview
Purpose of this Paper
The purpose of this discussion paper is to review the issues, achievements, challenges and future outlook of accrual budgeting for tangible capital assets. Other issues identified in compiling this research will be subjects of further reviews.
The research covers a number of issues concerning the use of accrual-based information in decision making for capital assets and for improved overall financial accountability. For example: - How has accrual-based information affected financial administration and accountability legislation? Are changes required?
- What impact does accrual-based information have on decision making and is it workable in all situations?
- Is full accrual information valuable for making replacement decisions, preparing lease versus purchase options, and day-to-day management of capital assets?
- Are asset valuations reliable and is there consistency in the application of standards across Canadian governments?
- What lessons can be learned from international experiences?
The discussion of these issues should provide a foundation for further debate by the budgeting, reporting and auditing communities representing senior governments across Canada. Although most of the information collected for this paper was drawn from the Maritime Provinces, with a few exceptions, the experiences and processes described can be readily identified in other jurisdictions. Some of the information may also be of assistance to local governments now looking toward similar standards affecting their budgeting and reporting of capital assets.
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