| Abstract: | Modern governments are increasingly making legislative commitments to adopt responsible fiscal policies and, as part of those commitments, undertaking to maintain their net worth and to report against that undertaking. With recent developments in public-sector accounting, reporting of government net worth and change of net worth has become possible. This paper examines some major issues relating to the reporting of government net worth. As attempts to provide for the measurement of assets and liabilities (the components of net worth) on a current value basis have met significant opposition in the private sector, some implications for the public sector are considered. |
