IDEAS home Printed from https://ideas.repec.org/a/nwe/eajour/y2013i4p62-72.html
   My bibliography  Save this article

The Process of Harmonization of Public Sector Accounting in the EU

Author

Listed:
  • Daniela Feschiyan

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

This paper analyzes the need for harmonizing the standards for accounting reporting by fully applying the principle of Accrual Based Accounting in the public sector in the EU member states. It also examines the discrepancy between the accountancy in the public sector, based on the cash flow principle (cash basis) and the Accrual Based principle applied in the process of budgetary surveillance in the EU (ESA 95, 2011). The emphasis is laid on the strong dependency of the statistical information at the European level on the quality of the accounting and information basis of public finances and on Eurostat’s willingness to create a system of harmonized accounting standards, based on the Accrual Based accounting, which are in compliance with ÅSA and applicable to all agents in the State Management sector. This paper further analyzes the standardization of the accounting in the public sector of the EU member states and globally and presents some trends of its development. The conclusion is reached that IPSAS are an indisputable staring point to develop harmonized reports in the EU public sector. IPSAS provide the best basic framework for the development of a set of European Public Sector Accounting Standards.

Suggested Citation

  • Daniela Feschiyan, 2013. "The Process of Harmonization of Public Sector Accounting in the EU," Economic Alternatives, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 62-72, December.
  • Handle: RePEc:nwe:eajour:y:2013:i:4:p:62-72
    as

    Download full text from publisher

    File URL: http://www.unwe.bg/uploads/Alternatives/a07.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Daniela Feschiyan, 2013. "A System of Indicators for Financial Analysis of the Municipal Real Property," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(4), pages 402-414, August.
    2. Daniela Feschiyan & Stela Raleva, 2013. "Valuation Bases and Accounting SystemEntries in Financial Analysis of the Municipal Real Property," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 9(4), pages 388-401, August.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Martin Dvořák, 2016. "The rate of implementation of accrual based accounting in the EU public sector [Míra implementace akruálního principu v účetnictví veřejného sektoru států EU]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2016(3), pages 25-37.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Daniela Feschian, 2013. "Åuropean system of harmonized accounting standards for the public sector," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 106-116.

    More about this item

    Keywords

    Accounting; public sector; Accrual Based Accounting; European Public Sector Accounting Standards;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nwe:eajour:y:2013:i:4:p:62-72. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: . General contact details of provider: https://edirc.repec.org/data/unweebg.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Vanya Lazarova (email available below). General contact details of provider: https://edirc.repec.org/data/unweebg.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.