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Public Net Worth Ian Ball

Public Net Worth By Ian Ball

Public Net Worth by Ian Ball


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Public Net Worth Summary

Public Net Worth: Accounting Government - Democracy by Ian Ball

As individuals, we depend on the services that governments provide. Collectively, we look to them to tackle the big problems - from long-term climate and demographic change to short-term crises like pandemics or war. Funding this activity, and managing the required finances sustainably, is difficult and getting more so.

But governments don't provide or use basic financial information that every business is required to maintain. They ignore the value of public assets and most liabilities. This leads to inefficiency and bad decision-making and piles up problems for the future.

Governments need to create balance sheets that properly reflect assets and liabilities, and to understand their future obligations and revenue prospects. Net Worth both today and for the future should be the measure of financial strength and success.

Only if this information is put at the centre of government financial decision-making can the present challenges to public finances around the world be addressed effectively, and in a way that is fair to future generations.

The good news is that there are ways to deal with these problems and make government finances more resilient and fairer to future generations.

The facts, and the solutions, are non-partisan, and so is this book. Responsible leaders of any political persuasion need to understand the issues and the tools that can enable them to deliver policy within these constraints.

About Ian Ball

Ian Ball

Ianis an Adjunct Professor at the Wellington School of Business and Government atVictoria University of Wellington,New Zealand. He served as the Director of Financial Management Policy and Central Financial Controller at theNew Zealand Treasury. He is credited with being the principal architect of the New Zealand Governments financial management reform process, leading to the passage of the Public Finance Act 1989. This made New Zealand the first government to introduce modern accrual accounting and integrate that with the budget and appropriation processes. He also initiated and lead the development of the International Public Sector Accounting Standards (IPSAS) while Chair of the International Federation of Accountants Public Sector Committee.


Willem Buiter

Currently an Adjunct Senior Fellow at the Council on Foreign Relations. He was the Global Chief Economist at Citigroup, Chief Economist at the EBRD and an original member ofthe Monetary Policy Committee of the Bank of England. He was the Juan T. Trippe Professor of International Economics at Yale University. He held academic appointments at the London School of Economics, Cambridge University, the University of Bristol, and Princeton University. He is the author of 78 refereed articles in professional journals and seven books.


John Crompton

Johnbegan his career as a civil servantin HM Treasuryin the mid-1980s before joining Morgan Stanley, where he worked as aninvestment bankerin London, New York, and Hong Kong.In 2005 - 07 he was seconded back toHMTasits Senior Corporate Finance Advisor, and from 2008 - 2010was Head of MarketInvestments at UKFI, responsible for the government'sinvestmentsin Lloyds Banking Group and RBS (now NatWest). More recently, he worked for HSBC for several years and is now a non-executive director, adviser and fintech investor.


Dag Detter

Dag advises private and public sector clients across the world on the unlocking of value from public assets. He led the comprehensiverestructuringofSwedens USD70bn national portfolio of commercial assets, the first attempt by a European government to systematically address the ownership and management of government enterprises and real estate.This led to a value increase of the portfolio twice that of the local stock market and helped boost economic growth and fiscal space. He is the author ofThe Public Wealth of Nations The Economistand Financial Times best book of the year and The Public Wealth of Cities.


Jacob Soll

Jacob Sollis a University Professor and Professor of Philosophy, History, and Accounting at theUniversity of Southern California and has taught at Princeton, Rutgers, and Cambridge Universities. The winner of many prestigious prizes, including a MacArthur Genius Grant, Soll's work examines the mechanics of politics, statecraft, and economics by dissecting how modern states and political systems succeed and fail. He is the author of several books, including his best-sellingThe Reckoning: Financial Accountability and the Rise and Fall of Nations(2014), which presents a sweeping history of accounting and politics, drawing on a wealth of examples from over a millennium of human history to reveal how accounting can used to both build kingdoms, empires and entire civilisations, but also to undermine them. It explains the origins of our financial crisis as deeply rooted in a long disconnect between human beings and their attempts to manage financial numbers.


Table of Contents

PART 1. PURPOSE AND PROLOGUE.- Chapter 1. Owning and Owing.- Chapter 2. From Warfare to Welfare in Three Generations.- PART 2. ACCOUNTING FOR GOVERNMENT.- Chapter 3. Why Government Accounting Matters.- Chapter 4. What Does the Government Balance Sheet Look Like?.- Chapter 5. Why Accrual Accounting Matters.- Chapter 6. Accrual Accounting How it Works in Practice.- Chapter 7. Central Banks and the Public Sector Balance Sheet.- Chapter 8. Looking to the Future: The Comprehensive Balance Sheet.- Chapter 9. Comparison of Public Sector Balance Sheets.- Chapter 10. Comparison of Comprehensive Balance Sheets.- Chapter 11. Review of Fiscal Rules.- PART 3. MANAGING PUBLIC COMMERCIAL ASSETS AND LIABILITIES.- Chapter 12. Finding, Understanding and Valuing Public Commercial Assets.- Chapter 13. The Asset Map: A Shortcut to Understanding Property Holdings Better.- Chapter 14. Institutionalising Asset Management.- Chapter 15. What Should Governments Do with Public Commercial Assets?.- Chapter 16. Managing Assets Better: The Role of Public Wealth Funds.- Chapter 17. Pensions and Other Liabilities: The Benefits of Disclosure and Management.- PART 4. PAST, PRESENT AND FUTURE.- Chapter 18. Balance Sheets, Culture and National Achievement in Europe 1560 - 1834.- Chapter 19. How Accounting Can Save Democracy.- Chapter 20. Implementing Change.

Additional information

NGR9783031443428
9783031443428
303144342X
Public Net Worth: Accounting Government - Democracy by Ian Ball
New
Hardback
Springer International Publishing AG
2024-02-16
343
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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