Accrual accounting reforms in belgian local governments: a comparative examination

This paper presents an overview of the current accounting reforms of two types of Belgian local governments from cameralistic accounting to business-like accrual accounting. Similarities and differences between important kinds of local government accounting are explored by focusing on important conceptual issues. The examination reveals that governmental accounting is relatively new and that a number of basic accounting problems remain even after some years of experience. Apparently, there is the need for a user oriented accounting framework applicable for different kinds of governments instead of transferring business accounting principles in practice without any further study.