Introducing Accrual Accounting in the Czech Local Governments: Challenges and Risks
Introducing Accrual Accounting in the Czech Local Governments: Challenges and Risks

Author(s): Filip Hrůza, Francesca Manes Rossi
Subject(s): Public Administration, Government/Political systems, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: local government; public sector accounting; financial management; accounting reform; accrual accounting;
Summary/Abstract: Within recent decades the new public financial management stream has brought different changes and innovations in the accounting systems of public entities globally. A trend towards the adoption of accrual accounting has been largely recognized between European countries, even in accordance with pressure exercised by the European Union, aimed at achieving comparable financial reporting. The Czech Republic has recently entered the group of countries with reformed public sector accounting [PSA) to make public finance system more realistic and accountable in accordance to EU accounting policy recommendations. Focusing on Czech local governments [CLG) the paper presents the identification of main points in mentioned implementation process in the Czech Republic and the analysis of perception and use of the related outcomes by CLG financial officers based on previous research.

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