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The Effect of the Global Financial Crisis and the Sovereign Debt Crisis on Public Sector Accounting: A Contextual Analysis

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  • Emmanuel Igbawase Abanyam

  • Paul Aondona Angahar

Abstract

This paper examines the effect of global financial crisis and the sovereign debt crisis on public sector accounting. The global financial crisis and sovereign debt crisis were contextually analysed bringing out clearly its effect on public sector accounting which include accounting issues related to public sector intervention, accounting for recapitalization of investment, accounting for fiscal support, accounting for financial guarantees. The paper found out that, the unresolved fiscal and debt problems in some European countries and elsewhere could threaten the global economy. The implication of this is that, there is need for transparent financial reporting by government and improvement in the management of public sector resources. That, third world countries should avoid sub optimal debts structure.

Suggested Citation

  • Emmanuel Igbawase Abanyam & Paul Aondona Angahar, 2015. "The Effect of the Global Financial Crisis and the Sovereign Debt Crisis on Public Sector Accounting: A Contextual Analysis," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 5(1), pages 72-79, January.
    • Handle: RePEc:hur:ijaraf:v:5:y:2015:i:1:p:72-79
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    References listed on IDEAS

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    1. Robert Z. Aliber & Charles P. Kindleberger & Robert N. McCauley, 2023. "Manias, Panics, and Crashes," Springer Books, Springer, edition 8, number 978-3-031-16008-0, January.
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    1. Saputro, Agung Eddy Suryo & Lukiswati, Intan & Soleh, Agus M Soleh & Andriansyah, Andriansyah, 2018. "Pemodelan Spasial Rasio Utang Pemerintah di Negara G20 Tahun 2003-2017 [Spatial Modelling Government Debt Ratios in G20 Countries 2003-2017]," MPRA Paper 105233, University Library of Munich, Germany.
    2. Edmund Animley & John Kwaku Mensah Mawutor & Isaac Ofoeda, 2023. "Crisis Accounting and Financial Irregularities: Do Ethical Considerations Play a Role?," International Journal of Accounting, Business and Finance, Indian Accounting Association, Patna Branch, vol. 2(2), pages 1-14.
    3. Aleck Sithole & Onismo Stephen Hahlani, 2024. "Encounters faced by the Audit Committee towards the Implementation of International Public Sector Accounting Standards (IPSAS) in Zimbabwean Public Schools in Mwenezi District of Masvingo," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(9), pages 928-937, September.

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