Resource Accounting and Budgeting


Also found in: Acronyms.

Resource Accounting and Budgeting

A system of planning, controlling and reporting on public spending for government, which was launched in 1993, with a commitment to introduce resource accounting (RA) and use it as the basis of public expenditure planning and control.

RA is the application of accruals accounting for reporting on the expenditure of central government and a framework for analysing expenditure by departmental aim and objectives, relating these to outputs where possible. Resource Budgeting is the extension of RA principles, and represents the spending plans of the department's programmes and operations measured in resource terms (resource consumed in the financial year rather than just cash spent/received) to reflect the full costs of its activities.
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