What the study found
The study found that government financial reporting is a contested area shaped by two main schools of thought: one focused on accountability to citizens and societal values, and one based on investment decisions and a business approach. The authors describe the controversy as appearing in accounting frameworks, principles, and the way reports are structured.
Why the authors say this matters
The authors conclude that examining government financial reporting as an essentially contested concept helps show how conflicting values and goals are handled. They also suggest that efforts to align those values can lead to either confusion or meaningful development.
What the researchers tested
The researchers carried out a normative study using an analytical frame informed by competing values and the idea of essentially contested concepts. They examined government financial reporting, including conceptual frameworks, recognition and measurement, the reporting boundary, and the content and presentation of accounts.
What worked and what didn't
The study says the controversy is reflected in diverse goals and values, accounting conceptual frameworks, recognition and measurement, and decisions about what counts as part of the report. It also says the tensions around accounting standards for heritage and social benefits led to long-awaited standards that were tempered with pragmatism and flexibility. Overall, the authors identify meaningful development, but also a lack of acknowledgement of non-business values and collective public value(s).
What to keep in mind
This is a normative analysis, so the abstract does not describe empirical testing or data collection. The available summary does not provide specific limitations beyond the authors' note that non-business values and collective public value(s) were not adequately acknowledged.
Key points
- The paper describes government financial reporting as shaped by two competing value systems.
- The controversy is said to appear in conceptual frameworks, principles, and reporting boundaries.
- The authors report that tensions over heritage and social benefits produced standards with pragmatism and flexibility.
- The study identifies meaningful development but says non-business values and collective public value(s) were not fully acknowledged.
Disclosure
- Research title:
- Government reporting shows competing values and contested standards
- Authors:
- Sheila Ellwood, Rhoda Brown
- Institutions:
- University of Bristol, University of Warwick
- Publication date:
- 2026-03-09
- DOI:
- 10.1111/faam.70032
- OpenAlex record:
- View
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