Historical Development of Local Governmental Accounting in Norway

Governmental Accounting in Norway: A Discussion With Implications for International Development

“…revenues earned minus expenses incurred as reported in the profit and loss accounts) (Walb, 1926). Hence, the merchant's double‐entry bookkeeping method forms the basis of performance (accrual) accounts (see Figure 3; also see Monsen, 2006a). According to Walb (1926) it is precisely this dual and more informative presentation of the performance result (via both the payment and activity sides), which is the advantage of using the merchant's double‐entry bookkeeping method compared to using the merchant's single‐entry bookkeeping method, where the performance result is reported via the payment side only.…”

“… Cameral Accounting and Commercial Accounting Source : Developed Version of Figure 1 (p. 362) and Figure 2 (p. 367) in Monsen (2006a). …”

“…Administrative cameralistics use a developed version of single‐entry bookkeeping, which can be referred to as the single‐entry bookkeeping method of administrative cameralistics (Monsen, 2006a; see Figure 3). While the merchant's single‐entry bookkeeping method forms the basis of financial (cash) accounts, showing immediate cash inflows and outflows, the single‐entry bookkeeping method of administrative cameralistics forms the basis of financial (money) accounts, showing total revenues and expenditures (i.e., immediate cash inflows and outflows as well as later cash inflows (accounts receivable) and later cash outflows (liabilities)).…”

“…Enterprise cameralistics use a developed version of systematic single‐entry bookkeeping, which can be referred to as the systematic single‐entry bookkeeping method of enterprise cameralistics (Monsen, 2006a; see Figure 3). As distinct from the merchant's systematic single‐entry bookkeeping method, which allows the preparation of the performance result via the payment side only (see the lower part of Figure 1), use of the systematic single‐entry bookkeeping method of enterprise cameralistics allows the preparation of the performance result via both the payment side (see the lower part of Figure 1) and the activity side (see the upper part of Figure 1).…”

“…the net equity change during the accounting year) and in the profit and loss accounts (as the difference between revenues earned and expenses incurred). The systematic single‐entry bookkeeping method of enterprise cameralistics thus forms the basis of modified financial (money) accounts/performance (accrual) accounts (see Figure 3; also see Monsen, 2006a).…”