摆渡论文网（www.baydue.com）-专业留学生作业辅导中心新西兰paper写作-英国政府公共财政管理The government common account is a consolidated financial statement developed by the Treasury and across the public sector. This paper introduces the scope, key elements, development goals and development process of WGA, and analyzes the expectations of the government on WGA and the main challenges faced by WGA. For example, the limitations of supporting macroeconomic decision-making, the difficulties of government debt consolidation, and the problems of consolidated accounting techniques.WGA is a combination of all public sectors in the UK and financial statements. It drew on commercial accounting methods and produced a set of unified consolidated financial statements for the entire public sector based on general accounting standards. Its purpose is to provide higher quality and more transparent information, support the development of fiscal policies, better management of public services and more effective allocation of resources.The government resources and accounting act 2000 provides a legislative framework for the WGA, which requires the Treasury to prepare the WGA for each entity performing public functions, as well as for those partially or fully funded by public funds. Specifically, the gaap-based WGA encompasses more than 1,300 public entities of various types in four regions: England, Scotland, wales, and Northern Ireland.Because of the huge workload of the merger, the ministry of finance was responsible for the entire merger process and the preparation of the accounts by the ministry of finance in coordination with the government department, and the government department was used as an intermediary for the sub-mergers of its host entities. In terms of the merger steps, a phased approach is adopted to first develop the central government unified account and unaudited, statistics-based WGA, then transition to gaap-based WGA, and conduct several years of simulation operation on the account to ensure quality. The ministry of finance also set up special project teams and advisory groups to develop detailed consolidated schedules, requiring each relevant public entity to develop an annual data schedule and other measures to ensure the smooth implementation of WGA projects.The WGA regards all public sectors as a complete entity, and therefore must exclude the impact of intra-group transactions, that is, to cancel all material transactions and balances between different public entities from the consolidated WGA figures. In addition, transactions reported in multiple accounts are adjusted to avoid double counting, which mainly involves centralized fund accounts, national loan funds, and national insurance funds.Consolidation must be based on a uniform accounting policy framework, which is a fundamental principle. However, the accounting policy system adopted by various British public entities is inconsistent, and the difference of specific accounting policies also increases the difficulty of merger. Therefore, it is necessary to compare, adjust and centralize all kinds of regulations and accounting guidance series in the public sector, and adopt consistent accounting policies and accounting practices.The government resources and accounting act 2000 states that early WGA reports should include at least three core statements: financial performance reports, financial performance reports, and cash flow statements. Explain in the notes to the financial statements how the main figures are derived. These highly centralized reports provide useful macroeconomic information to parliament and other users.To increase the credibility of the WGA, its accounts must be audited independently. This audit relies to a large extent on the statutory audit of all public entities incorporated into WGA. For this purpose, audit standards similar to the industry standards for public entities audit should be established to standardize the form of audit opinions, clarify the scope of audit and coordinate the work of different auditors. For example, according to the scope of the merger, the audit competence and scope of the auditor general, private sector auditors, auditors appointed by the audit committee of England, wales, Scotland, and the auditor general of Northern Ireland were clarified, and the differences in accounting confirmation among different auditors were coordinated. In addition, an audit simulation run can be carried out for one to several years to test its effectiveness.While developing and implementing the gaap-based WGA, the Treasury Department decided to first develop the unaudited, statistics-based WGA for the entire public sector. It can be generated shortly after the end of the fiscal year in favor of providing the required data in time for short-term or medium-term fiscal policy to facilitate the development of fiscal policy, and it has the potential to improve the quality of national accounts based on the European acc