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Public Accounting Reporting, under an Achievable Metamorphosis?


Affiliations
1 Department of Accounting and Audit, Babes Bolyai University, Teodor Mihali Street No 58-60, Cluj Napoca 400591, Romania
 

This study aims to provide a holistic approach of the European Union (EU) fiscal and financial reporting systems by assessing them through European System of National Accounts (ESA 2010) and International Public Sector Accounting Standards (IPSAS) reference, both having the accrual basis as benchmark of governmental accounting. The empirical research performed by combining the cluster analysis with the multidimensional scaling technique enables us to map all EU member states and emphasize potential connections between their fiscal and financial systems, thus providing a visual image of the two facets of public accounting. The results reveal a wide and strong interest in sound reporting able to improve transparency through performance management systems. These support European Public Sector Accounting Standards project aimed to adjust inaccuracies between IPSAS and ESA 2010 and finally to enhance good governance and create a positive environment by facilitating transparency and comparability.

Keywords

European Public Sector Accounting Standards, European System of National Accounts, European Union, International Public Sector Accounting Standards.
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  • Public Accounting Reporting, under an Achievable Metamorphosis?

Abstract Views: 252  |  PDF Views: 75

Authors

Cristina Silvia Nistor
Department of Accounting and Audit, Babes Bolyai University, Teodor Mihali Street No 58-60, Cluj Napoca 400591, Romania
Cristina Alexandrina Stefanescu
Department of Accounting and Audit, Babes Bolyai University, Teodor Mihali Street No 58-60, Cluj Napoca 400591, Romania

Abstract


This study aims to provide a holistic approach of the European Union (EU) fiscal and financial reporting systems by assessing them through European System of National Accounts (ESA 2010) and International Public Sector Accounting Standards (IPSAS) reference, both having the accrual basis as benchmark of governmental accounting. The empirical research performed by combining the cluster analysis with the multidimensional scaling technique enables us to map all EU member states and emphasize potential connections between their fiscal and financial systems, thus providing a visual image of the two facets of public accounting. The results reveal a wide and strong interest in sound reporting able to improve transparency through performance management systems. These support European Public Sector Accounting Standards project aimed to adjust inaccuracies between IPSAS and ESA 2010 and finally to enhance good governance and create a positive environment by facilitating transparency and comparability.

Keywords


European Public Sector Accounting Standards, European System of National Accounts, European Union, International Public Sector Accounting Standards.

References





DOI: https://doi.org/10.18520/cs%2Fv114%2Fi10%2F2131-2137