The Financial Value of Cultural, Heritage and Scientific Collections: A Public Management Necessity
- 1 May 1997
- journal article
- Published by Wiley in Australian Accounting Review
- Vol. 7 (13) , 38-43
- https://doi.org/10.1111/j.1835-2561.1997.tb00026.x
Abstract
The Australian community devotes substantial resources to building and maintaining public collections, such as its public museums and galleries. There has been comment in this journal and elsewhere on the case for placing a financial value on cultural, heritage and scientific collections. In this paper the framework proposed by Carnegie and Wolnizer (1995) is extended to show that the valuation of the service flows that come from public collections is not only feasible; it is also desirable from a public management perspective. The paper presents the case for valuing public collections and analyses alternative valuation procedures. It concludes that the valuation of public collections is an essential component of any sound system of management of the resources applied to the running of activities such as public museums and art galleries.Keywords
This publication has 1 reference indexed in Scilit:
- The Financial Value Of Cultural, Heritage And Scientific Collections: An Accounting FictionAustralian Accounting Review, 1995