Publication: Análisis de las Administraciones Públicas a Través de Indicadores Financieros
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Date
2002
Authors
Benito López, Bernardino ; Martínez Conesa, Isabel
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info:eu-repo/semantics/article
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Abstract
Las especiales características de la actividad desarrollada por las Administraciones Públicas, justifican el interés de analizar en este trabajo el contenido informativo de las cuentas anuales que elaboran dichas entidades, juzgando la coherencia y utilidad de importar desde el ámbito empresarial ciertos ratios tradicionales. Así, estudiamos los indicadores financieros propuestos tanto desde la doctrina o las propias Administraciones, como desde los usuarios externos que concretamos en las agencias de rating, sobre los que, siempre que nos ha sido posible, hemos propuesto otros alternativos, incluidos aquellos que pueden formar parte de una red de alerta temprana. Concluimos que los indicadores deducidos del presupuesto resultan más útiles para juzgar la situación financiera que aquellos otros tradicionales basados en equilibrios patrimoniales, debiendo, no obstante, complementarse con magnitudes como el remanente de tesorería o la deuda viva, y flujos financieros como el estado de tesorería. En cualquier caso, entendemos que la validación de los instrumentos de análisis debe ser empírica, aspecto que constituye una lógica derivación de este trabajo.
The special characteristics of the activities undertaken by the Public Adminsitrations make worth the analysis of the informative contents of their annual accounts, judging the coherence and utility of certain ratios traditionally used when analysing enterprises. In this context, we analyse the financial indicators proposed by the doctrine, Public Administrations, and the external users (rating agencies), proposing whenever possible alternative ones included those that can serve as early alert indicators. We conclude that the indicators obtained using the budget are much more useful when judgingn the financial situation of the entity than those traditionally based on the estate balance, although the first ones must bu interpreting bearing in mind other magnitudes such as the cash surplus statement or the debt statement. In any case, we believe that the worthiness of the analysis to be used must be demosntrated empirically, which is of course a logical outcome in this paper.
The special characteristics of the activities undertaken by the Public Adminsitrations make worth the analysis of the informative contents of their annual accounts, judging the coherence and utility of certain ratios traditionally used when analysing enterprises. In this context, we analyse the financial indicators proposed by the doctrine, Public Administrations, and the external users (rating agencies), proposing whenever possible alternative ones included those that can serve as early alert indicators. We conclude that the indicators obtained using the budget are much more useful when judgingn the financial situation of the entity than those traditionally based on the estate balance, although the first ones must bu interpreting bearing in mind other magnitudes such as the cash surplus statement or the debt statement. In any case, we believe that the worthiness of the analysis to be used must be demosntrated empirically, which is of course a logical outcome in this paper.
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