Comments on: Cash Versus Accrual in Government Accounting http://mentalpolyphonics.com/posts/cash-versus-accrual-in-government-accounting you should NOT EAT INFINITE PIZZA!!!!!!!!!!!!!!!!!! Fri, 12 Mar 2010 02:59:29 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Jack http://mentalpolyphonics.com/posts/cash-versus-accrual-in-government-accounting/comment-page-1#comment-71340 Jack Thu, 18 Jun 2009 16:53:27 +0000 http://mentalpolyphonics.com/?p=4331#comment-71340 My bad Andrew, fixed. Thanks. My bad Andrew, fixed. Thanks.

]]> By: Jared http://mentalpolyphonics.com/posts/cash-versus-accrual-in-government-accounting/comment-page-1#comment-71332 Jared Thu, 18 Jun 2009 02:45:03 +0000 http://mentalpolyphonics.com/?p=4331#comment-71332 Thanks for the explanation! My understanding is that the BC Liberal government has never claimed that they have a balanced budget with respect to capital expenditures. They borrow against the future to <em>build stuff</em> but not provide services. I think neither party can get into a discussion about that because voters' eyes glaze over... Thanks for the explanation!

My understanding is that the BC Liberal government has never claimed that they have a balanced budget with respect to capital expenditures. They borrow against the future to build stuff but not provide services.

I think neither party can get into a discussion about that because voters’ eyes glaze over…

]]> By: Andrew MacLeod http://mentalpolyphonics.com/posts/cash-versus-accrual-in-government-accounting/comment-page-1#comment-71329 Andrew MacLeod Thu, 18 Jun 2009 00:35:04 +0000 http://mentalpolyphonics.com/?p=4331#comment-71329 Thanks for the careful read, Jack. A few details though: 1. You missed a decimal point. It should be a $1.4 billion deficit, not $14 billion; 2. I was reporting what Statistics Canada put out yesterday. I'm not sure why they use cash basis accounting, but they do; 3. I was very clear in my report that there is a big difference in how StatsCan and how the government look at the books. Whether that accounts for the large difference of opinion on the size of the deficit we will see when the public accounts are released. Thanks for the careful read, Jack.

A few details though:

1. You missed a decimal point. It should be a $1.4 billion deficit, not $14 billion;

2. I was reporting what Statistics Canada put out yesterday. I’m not sure why they use cash basis accounting, but they do;

3. I was very clear in my report that there is a big difference in how StatsCan and how the government look at the books. Whether that accounts for the large difference of opinion on the size of the deficit we will see when the public accounts are released.

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