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International Practice of Consolidated Financial Statements Presentation at Public Sector

Author

Listed:
  • Karen I. Alaverdyan

    (Ministry of Finance of the Republic of Armenia, Yerevan 0010, Armenia)

  • Raffi A. Aleksanyan

    (Ministry of Finance of the Republic of Armenia, Yerevan 0010, Armenia)

  • Svetlana A. Tabalina

    (Financial Research Institute, Moscow 127006, Russia)

Abstract

The article discusses the international standard requirements to the public sector consolidated financial statements. The main international standards guides for the public sector statements are the Government Finance Statistics Manual (GFSM) and the International Public Sector Accounting Standards (IPSAS). The article highlights that several countries use the approach to public sector financial statements that allows to comply both GFSM and IPSAS requirements. Most governments use step-by-step transfer to the consolidated financial statements presentation at the public sector.

Suggested Citation

  • Karen I. Alaverdyan & Raffi A. Aleksanyan & Svetlana A. Tabalina, 2018. "International Practice of Consolidated Financial Statements Presentation at Public Sector," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 103-114, August.
    • Handle: RePEc:fru:finjrn:180409:p:103-114
    DOI: 10.31107/2075-1990-2018-4-103-114
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    More about this item

    Keywords

    consolidated financial statements; public sector; International Public Sector Accounting Standards (IPSAS); public finance;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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