2014•RePEc: Research Papers in EconomicsRequires access

Standardization in the Accounting of Public Sector Enterprises

Daniela Feschian, Veselka Pavlova

Open publisher page 0 citations

Abstract

This paper analyzes the major problems in the accounting of the public sector enterprises created by the lack of standardization. It aims to prove the need to introduce standardization and develop an accounting model based on the International Accounting Standards in the public sector. Two major trends are examined: Deviations from the fundamental accounting practices in the reporting of specific objects in public sector enterprises are exposed and proposals are made with regard to their elimination. Furthermore, the possible effects that the proposed standardized models may have on reporting are suggested. This paper also presents an analysis of the findings of a specialized survey on the problems of accounting system of public sector enterprises, and in the state universities in particular. This research validates the hypothesis that the public sector enterprises lack a standardization of their accounting systems. As a result it establishes deviations from leading principles such as the current charging, the comparability of revenues and expenditures, caution and others. This research also proves the need to standardize the accounting system of public sector enterprises whereby a significant part of the problems will be removed and the quality of accounting information will be considerably improved.

Open-access reader

About this research paper

What this paper is about

This paper analyzes the major problems in the accounting of the public sector enterprises created by the lack of standardization. It aims to prove the need to introduce standardization and develop an accounting model based on the International Accounting Standards in the public sector. Two major trends are examined: Deviations from the fundamental accounting practices in the reporting of specific objects in public sector enterprises are exposed and proposals are made with regard to their elimination. Furthermore, the possible effects that the proposed standardized models may have on reporting are suggested. This paper also presents an analysis of the findings of a specialized survey on the problems of accounting system of public sector enterprises, and in the state universities in particular. This research validates the hypothesis that the public sector enterprises lack a standardization of their accounting systems. As a result it establishes deviations from leading principles such as the current charging, the comparability of revenues and expenditures, caution and others. This research also proves the need to standardize the accounting system of public sector enterprises whereby a significant part of the problems will be removed and the quality of accounting information will be considerably improved.

Why it matters

A significance statement is not available in the OpenAlex record.

Key contribution

A contribution statement is not available in the OpenAlex record.

Method / approach

Method details are not available in the OpenAlex metadata.

Main findings

Findings are not separately available in the OpenAlex metadata.

Limitations

Limitations are not available in the OpenAlex metadata.

Applications

Application details are not available in the OpenAlex metadata.

Available abstract

This paper analyzes the major problems in the accounting of the public sector enterprises created by the lack of standardization. It aims to prove the need to introduce standardization and develop an accounting model based on the International Accounting Standards in the public sector. Two major trends are examined: Deviations from the fundamental accounting practices in the reporting of specific objects in public sector enterprises are exposed and proposals are made with regard to their elimination. Furthermore, the possible effects that the proposed standardized models may have on reporting are suggested. This paper also presents an analysis of the findings of a specialized survey on the problems of accounting system of public sector enterprises, and in the state universities in particular. This research validates the hypothesis that the public sector enterprises lack a standardization of their accounting systems. As a result it establishes deviations from leading principles such as the current charging, the comparability of revenues and expenditures, caution and others. This research also proves the need to standardize the accounting system of public sector enterprises whereby a significant part of the problems will be removed and the quality of accounting information will be considerably improved.

Key concepts: Standardization, Comparability, Accounting, Revenue, Public sector, Business, Accounting information system, Quality (philosophy)

Related papers

Back to paper searchBrowse research topicsOriginal source
Standardization in the Accounting of Public Sector Enterprises — Research Paper | ScholarLens