The Informative Role of Accounting Standards in Privatizing State-Owned Property: Comparing Greek Governmental Accounting Standards and IPSAS Sotirios Karatzimas Hot

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Uploaded by Sotirios Karatzimas     Uploaded date: July 12, 2014    
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Publication date
July 12, 2014
Paper language
Abstract
This paper examines the suitability of different accounting bases in providing useful information to support privatization decisions of state-owned property. More specifically, a comparison is conducted between the recently adopted Greek Governmental Accounting Standards (GGAS) that follow a modified cash basis and accrual-based IPSAS with reference to state-owned property. Within this realm, the study tries to shed light on how accounting could assist governments in better informing their decision-making processes. The findings suggest that even though GGAS seem to be influenced in several cases by IFRS, and therefore present similarities with IPSAS, they do not sufficiently account for information relevant to privatization decisions under the idiosyncratic circumstances that govern state-owned property in Greece. Nevertheless, although IPSAS appear to be significantly more informative, an information gap is recognized in the case of state-owned assets registration regarding assets that face considerable legal shortcomings that relate to violations or claims by third parties.
Preferred Citation
Cohen, S. and Karatzimas, S. and Venieris, G. (2015), "The Informative Role of Accounting Standards in Privatizing State-Owned Property: Comparing Greek Governmental Accounting Standards and IPSAS", Global Business and Economics Review, Vol. 17, No. 1, pp. 51-62
Keywords
privatization; IPSAS; modified cash basis; Greece; state-owned assets
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Category
  • Financial accounting
  • International Accounting / Accounting Harmonization
Type of Paper
Published paper

How to get the paper

From the journal
http://www.inderscience.com/jhome.php?jcode=gber

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