РЕГЛАМЕНТИ И СТАНДАРТИЗАЦИЯ НА СЧЕТОВОДНАТА СИСТЕМА В ПУБЛИЧНИЯ СЕКТОР
REGULATION AND STANDARDIZATION IN PUBLIC SECTOR ACCOUNTING SYSTEM

Author(s): Daniela Feschiyan
Subject(s): Economy, Supranational / Global Economy, Public Finances, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: accounting; public sector; Accrual Bassed Accounting; International Accounting Standards for the public sector; European accounting standards for the public sector
Summary/Abstract: This paper analyzes the need for accounting standardization in public sector by fully applying the principle of Accrual Based Accounting. It also examines the discrepancy between public sector accounting system based on the cash flow principle (cash basis) and the accrual based principle in the process of budgetary surveillance in the EU. The dependence of statistical information at European level on quality of financial statements in the public sector and Eurostat's willingness to global harmonization of accounting standards, based on accrual principle, in the general government sector is analyzed. The prospects and effects of process of harmonization of public sector accounting also are presented. It concludes that accounting standardization and fully applying the accrual principle in Bulgarian public sector will bring significant benefits to public financial management.

• Details
• Contents