scholarly journals Running the Obstacle Race towards Public Accounting Harmonization in EU-28: A Temporal Study

2017 ◽  
Vol 12 (3) ◽  
pp. 49 ◽  
Author(s):  
Vincenzo Sforza ◽  
Riccardo Cimini
Keyword(s):  
Public Sector ◽  
Governance Structure ◽  
Future Research ◽  
Accounting System ◽  
Public Accounting ◽  
Accounting Systems ◽  
Temporal Study ◽  
European Public ◽  
Public Sector Accounting ◽  
Over Time

The European Commission has recently started a project aimed at harmonizing EU public accounting systems through the development of European Public Sector Accounting Standards (EPSAS). The project is a response to the lack of coherence between primary public-sector accounts and government financial statistics, in order to strengthen the economic governance structure in the euro area. This paper aims to show that the divergences (adjustments) between the measures of surplus/deficit in governmental (working balance, WB) and national accounting (net borrowing lending, NBL) vary over time to provide future research opportunities around the factors that, affecting temporal divergences between these measures, enhance fiscal fragility within the EU public sector accounting system. By analysing the Excessive Deficit Procedure (EDP) tables issued by 28 EU countries over the period 2010-2015, the paper uses novel approaches in measuring adjustments based on network analysis and regression models, showing that they are significantly different over time.

Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives for Europe’s Economy and Society

2014 ◽  
Vol 4 (3) ◽  
Author(s):  
Yuri Biondi
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Accounting Standards ◽  
International Accounting Standards ◽  
Accounting Systems ◽  
The Public ◽  
Financial Reporting Standards ◽  
Adoption And Implementation ◽  
European Public ◽  
Public Sector Accounting

AbstractAccounting systems play a hidden but fundamental role as mode and instrument of representation, coordination and organisation for the public sector and its specific public action. Therefore, financial and accounting reforms transform, implement and reshape public policies as well as the working and very existence of public administration. Last March 2013, the European Commission started a relevant project with the intention to create harmonised “European Public Sector Accounting Standards” (EPSAS) and implement them in the Member States. Between 1995 and 2002, a similar project was already achieved for private sector accounting standards-setting, leading to adoption and implementation of International Financial Reporting Standards (IFRS) issued by International Accounting Standards Board (IASB). The EPSAS project should decide if public sector accounting standards-setting shall follow a similar pattern to converge towards the International Public Sector Accounting Standards (IPSAS) that transplant the IFRS in the public sector. This choice may have fundamental implications for the European (Monetary) Union, since public sector accounting and public finances are fundamental elements of its institutional framework. This thematic issue aims to provide analyses and perspectives on this ongoing public sector accounting harmonisation process in Europe, addressing its governance and contents, as well as its consequences and implications for Europe’s economy and society.

The birth of a modern public sector accounting system in France and Britain and the influence of Count Mollien

2001 ◽  
Vol 6 (1) ◽  
pp. 75-101 ◽  
Author(s):  
Marc Nikitin
Keyword(s):  
Public Sector ◽  
Accounting System ◽  
Financial Systems ◽  
Accounting Systems ◽  
Public Sector Accounting ◽  
Revenue Streams ◽  
Double Entry

Under theAncien Régime France, the collection of taxes was a matter entrusted by the King to businessmen. After several unfruitful attempts to exercise greater control over his revenue streams, the King finally introduced reforms in 1788 to both centralise the Treasury and to use double-entry bookkeeping. TheRévolution confirmed this orientation and, after 1815, a modern public sector accounting system was progressively established in order to service the nascent nation. Soon later, Britain also started to rebuild its public sector accounting system and, as will be shown, a mutual French-British influence existed in the building of the national financial systems. Behind these modern public sector accounting systems lies the influential role played by Count Mollien, both in France and Britain.

scholarly journals Transparency and Public Accountability Through Public Sector Accounting: The Use of ‘Value For Money’ Concept in Indonesia

2019 ◽  
Vol 1 (1) ◽  
pp. 30-33
Author(s):  
Jeki Trimarstuti
Keyword(s):  
Public Finance ◽  
Public Sector ◽  
Accounting System ◽  
Analysis Method ◽  
Public Accountability ◽  
Value For Money ◽  
Public Accounting ◽  
The Public ◽  
Content Analysis Method ◽  
Public Sector Accounting

Two of the most fundamentalist concepts for reshaping the regional public finance are the transparency process and the public accountability through the public sector accounting. To support the realization of both of these ideas, there is a concept that has been discussed in the term of local public accounting system recently, which is called ‘Value for Money’. By using Content Analysis method, the aim of this study is to find out more about the issue problem and the use of ‘Value For Money’ to analyze the transparency and public accountability problem in Indonesia.

scholarly journals Italian Public Sector Accounting Reform: A Step Towards European Public Sector Accounting Harmonisation

2017 ◽  
Vol 7 (2) ◽  
pp. 137-153 ◽  
Author(s):  
Riccardo Mussari ◽  
Daniela Sorrentino
Keyword(s):  
Public Sector ◽  
Public Management ◽  
New Public Management ◽  
Accounting System ◽  
Government Accounting ◽  
Italian Experience ◽  
Italian Case ◽  
European Public ◽  
Public Sector Accounting ◽  
Path Dependent

Abstract This paper discusses post-New Public Management (NPM) approaches to current patterns of public management reforms as a path-dependent phenomenon and as proposing corrective solutions to unintended shortcomings of NPM-inspired reforms. Public sector accounting reforms are seen as developing coherently with general public managerial reforms, and as showing a shift in the prioritised purposes assigned to public accounts in line with the overall design of projected reform-making. EU public sector accounting harmonisation is interpreted in this framework, and the Italian experience of public sector accounting reform is discussed in the light of EU membership. Particular emphasis is given to the likely overlap between national and government accounting due to increasingly shared purposes, whereby the former acquires a functional supportive role to the latter. Considerations on the drivers, as well as on the technical solutions of the new Italian public sector accounting system, suggest that Italian public sector accounting has taken a step in the direction of European public sector accounting harmonisation. Finally, the Italian case provides evidence of post-NPM-like accounting reform, contributing to the scanty empirical research on this topic.

scholarly journals A Perspective on the Proposal for European Public Sector Accounting Standards, in the Context of Accruals in UK Government Accounting

2014 ◽  
Vol 4 (3) ◽  
Author(s):  
Rowan Jones ◽  
Josette Caruana
Keyword(s):  
Public Sector ◽  
Accounting Standards ◽  
Accounting System ◽  
Monetary Policies ◽  
Government Accounting ◽  
European Public ◽  
Public Sector Accounting ◽  
The Government ◽  
The Uk ◽  
The Eu

AbstractThis paper offers a UK perspective on the proposal to develop European Public Sector Accounting Standards (EPSAS). It offers the fundamentals of the UK government’s system of budgeting and accounting, which is the responsibility of the UK Treasury, being one part of its responsibilities for the UK’s fiscal and monetary policies. In the light of this, the EPSAS proposal remains a puzzle and a peripheral one at that. The paper ponders on the forces underlying the EPSAS proposal and notes that for the government practitioner in an EU member state, rules emanating from the EU would naturally have a macro-level focus. Consequently, any potential advantages of an accrual accounting system at micro-level may not be fully appreciated.

scholarly journals Towards accounting harmonization in Europe: a multinational survey among budget experts

2020 ◽  
pp. 002085232091564
Author(s):  
Markus Frintrup ◽  
Lisa Schmidthuber ◽  
Dennis Hilgers
Keyword(s):  
Public Sector ◽  
European Commission ◽  
Early Stage ◽  
Accounting Standards ◽  
Accounting System ◽  
Current Accounting ◽  
European Public ◽  
Public Sector Accounting ◽  
Standards Development ◽  
Standards Reform

Severe fiscal problems, the insufficient comparability of financial information and increasing demands for better accountability require national governments and international organizations to change their current accounting regimes and to move towards a system of standardized accounting practices. As the International Public Sector Accounting Standards have insufficiently moved Europe towards accounting harmonization in recent years, the European Commission currently aims to suggest the adoption of European Public Sector Accounting Standards. Based on a multinational survey among budget experts, the current article investigates budget experts’ perceptions towards adopting the European Public Sector Accounting Standards. The findings compare attitudes towards new accounting practices and European Public Sector Accounting Standards reform expectations on a comparative basis, and relate them to the current national accounting system and contextual factors. Empirical results indicate great variation in terms of European Public Sector Accounting Standards reform expectations across countries. The study concludes with discussing the implications of the findings for international accounting research, accounting harmonization and the development of a European accounting system. Points for practitioners In this early stage of European Public Sector Accounting Standards development, understanding the factors associated with a country’s decision to adopt them could be helpful for practitioners and professionals. The current study identifies information technology costs as a potential barrier to implementing the European Public Sector Accounting Standards. Politicians and standard setters might take this into account while developing the European Public Sector Accounting Standards. Furthermore, this article reveals that encouraging the voluntary introduction of accrual accounting in the first stage of European Public Sector Accounting Standards development might be the appropriate approach of the European Commission.

Comparison of the perception of overt and covert options in IPSAS financial statements by intergovernmental organizations

Tékhne ◽  
2018 ◽  
Vol 16 (1) ◽  
pp. 28-39
Author(s):  
Berit Adam
Keyword(s):  
Public Sector ◽  
European Commission ◽  
Accounting Standards ◽  
Financial Statements ◽  
Criminal Court ◽  
Intergovernmental Organizations ◽  
Accounting System ◽  
Accrual Accounting ◽  
Public Sector Accounting ◽  
Primary Reference

AbstractSince 2012, the European Commission has embarked on the ambitious project to harmonize public sector accounting rules on all levels of government within Europe, mainly to improve the quality as well as the comparability of financial data. Although International Public Sector Accounting Standards were deemed not to be suitable for a simple take-over because of various reasons, they nevertheless shall function as a primary reference point for developing European Public Sector Accounting Standards. A total of 21 out of 28 central governments have already reformed their accounting standards to accrual accounting, and some of them have also relied on IPSAS in this exercise. Apart from governments, various international and supranational governmental organizations have also since the end of the 2000’s been reforming their accounting system to accrual accounting, and have in the same way relied on existing IPSAS. This paper explores accounting practices found in ten intergovernmental organizations (Commonwealth Secretariat, Council of Europe, European Commission, IAEA, INTERPOL, ITER, NAPMA, OECD, International Criminal Court, WFP) whose statements are prepared in compliance with IPSAS. It analyzes how overt and covert options contained in IPSAS with relevance to the activities of intergovernmental organizations are exercised and evaluates in which areas of accounting material differences in accounting practices can be found, which may hinder the comparability of financial statements prepared on the basis of IPSAS.

Harmonising public sector accounting laws and regulations of the European Union member states: powers and competences

2021 ◽  
pp. 002085232110600
Author(s):  
Karoline Helldorff ◽  
Johan Christiaens
Keyword(s):  
Public Sector ◽  
Accounting Standards ◽  
The European Union ◽  
Member States ◽  
European Public ◽  
Public Sector Accounting ◽  
Will Force ◽  
The One ◽  
Rules Set ◽  
The Eu

This paper analyses the powers and competences of the EU to standardise public sector accounting of the member states and to take other EU action in the field of public sector accounting. We argue that public sector accounting forms part of the administrative organisation of the member states that is not a core EU competence. EU initiatives such as the European Public Sector Accounting Standards project, which aim to increase transparency and comparability, therefore need to follow the rules set out for administrative matters in general. The study reveals on the one hand that EU actions are essentially limited to voluntary cooperation and influences of other policy areas. But on the other hand, it shows that they do not need to be limited to the initiatives currently driven by Eurostat. Points for practitioners The future of the European Public Sector Accounting Standards project is uncertain. However, it is very unlikely that it will take the shape of a top-down set of readymade EU accounting standards that will force public administrations to adjust their inner workings. Public sector accounting is not (yet) a (typical) European policy, but simply a national one that the EU can support. The EU initiative can be considered as an opportunity for collaboration and knowledge sharing on how to increase transparency of public sector accounting.

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