Provides statistics that are based on accounting information, which enable policy-makers and other stakeholders to:
assess the impact of policy decisions on the economy
make international comparisons of financial performance information
analyse the financial operations and financial position of the public sector at either the specific government, institutional sector or transactional level.
The GFS system covers all activities of governments that can be measured in financial terms. The system distinguishes between transactions and other economic flows that impact on movements in assets and liabilities held by governments. The statistics also include information about the value of governments' investments and debt.
GFS is not an accounting system — accounts are mapped to a GFS view, providing the Australian Bureau of Statistics an alternative view of the accounting data.