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The structural absence within public-sector accounting of categories for capital continuity, mission cycles, and deferred fragility. Public accounting was designed for annual fiscal discipline and debt control, not for representing long-horizon capital that must persist, regenerate, and remain mission-aligned across decades. This blind spot is epistemic rather than technical—arising from missing concepts, not poor measurement.
Accounting systems can record when an asset was acquired and its depreciation schedule, but cannot represent whether a hospital's diagnostic equipment is still fit for purpose, whether maintenance has been deferred, or whether the asset aligns with evolving health service needs.
ABS Section 5