Accounting regulation and IPSAS implementation: efforts of transition countries toward IPSAS compliance Hothttps://psaar.net/media/reviews/photos/thumbnail/300x250s/95/73/e0/Journal-of-Modern-Accounting-and-Auditing-24-1413895340.jpg
Uploaded by GORANA ROJE Uploaded date: October 15, 2014
December 01, 2010
The need for high quality standards to enhance sound and consistent financial reporting and the fact that the inefficiency and ineffectiveness of public sector extended to a belief that public and private sectors did not have to be managed in fundamentally different ways, fostered a wide-ranging discussion about the harmonization of public sector accounting systems and their convergence towards the private sector financial reporting standards. This paper discusses the state and perspective of public sector accounting and financial reporting in transition countries. Precisely, this paper aims to examine the adequacy of governmental accounting and financial reporting model, reflecting the existing accounting regulation and financial reporting framework in Slovenia, Croatia and Bosnia and Herzegovina. The motivation for this paper emerges from international discussions about IPSASs development and adoption, and the fact that the topic is becoming more and more relevant as many countries are moving towards adopting full accrual accounting using IPSASs as their method of financial reporting. Our results show that the degree and dynamics of government accounting systems’ transformation in transition countries depends upon several specific factors which have to be taken into account when evaluating the systems and making comparison between government accounting system reforms in countries in the analysis. Thus, the study distinguishes certain similarities but also discrepancies regarding the status and possible further development of governmental accounting in countries examined.
Roje, G., Vašiček, D., Vašiček, V.,: Accounting regulation and IPSAS implementation: efforts of transition countries toward IPSAS compliance, Journal of Modern Accounting and Auditing, (2010), Vol.6, No.12, December, pp. 1-16, ISSN: 1548-6583, David Publishing Company.
government accounting; financial reporting; budgeting; IPSASs; transition countries
- Comparative Research
- International Accounting / Accounting Harmonization
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