June 25, 2012Spencer Callaghan
What’s new at FreeBalance?
This weekly news update provides the Government Resource Planning (GRP) community with a brief overview of recent FreeBalance developments and relevant industry news.
Assets & Inventory Management for Government
Traditional software assets and inventory systems that are designed for the private sector are not well suited for the public sector. FreeBalance Assets and Inventory V7 is a fully integrated web-based module of the FreeBalance Accountability Suite. Designed exclusively for government, FreeBalance Assets and Inventory includes features to effectively manage, maintain and safeguard government assets.
Contact Ria Aikat to find out more >>
FreeBalance Showcases GRP Solutions in Caribbean
On June 21-23, FreeBalance participated in the 30th Annual ICAC Conference in Antigua & Barbuda. The ICAC event brought together speakers and participants from the Caribbean and international community to examine the major regional challenges facing accountants, finance professionals, and business leaders. FreeBalance sponsored the event along with ACCA, CGA, CMA, PwC and Ernst & Young.
Read more about the ICAC event>>
What Canada can learn from Developing Countries on Public Financial Management sustainability? [Part 3]
The lack of civil service “capacity” or the need to improve “capacity” is a consistent theme when diagnosing public financial management problems in developing countries. In a recent post on the International Monetary Fund PFM Blog, Capacity Building and Why Reforms Fail, David Gentry opens with: “Rarely can you find a technical assistance related document that does not refer to the need for capacity building.” Civil servants need the proper skills to implement government programs.
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The Adoption of the Cash-based IPSAS by Developing Countries: Detour or Good Foundation?
In advising countries on the appropriate government accounting reforms PFM specialists often have different views. Developing countries are often encouraged to adopt the cash-IPSAS standard as a first step to modernizing government accounting; others see this as a detour to improving accounting practices. Our colleagues Kris Kauffmann and Guilhem Blondy discuss this issue, first disagree and then reach tentative agreement it seems. Comments welcome!
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Sudden Stops: Are global and local investors alike?
In a recent paper by Cesar Calderon and Megumi Kubota (forthcoming in the Journal of International Economics), it is argued that the distinction between sudden stops caused by domestic versus foreign residents is crucial when examining the effects of these types of episodes on economic performance and their policy implications. Identifying the relative importance of the shocks underlying these different types of sudden stops is essential. If sudden stops were, for instance, attributed to reduce inflows by foreigners, policymakers should minimize the country’s vulnerability to external shocks.
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