IPSAS or IFRS as the Framework for Public Sector Financial Reporting? New Zealand Preparers’ Perspectives

2015 ◽  
Vol 25 (2) ◽  
pp. 175-184 ◽  
Author(s):  
Fawzi Laswad ◽  
Nives Botica Redmayne
Keyword(s):  
New Zealand ◽  
Public Sector ◽  
Financial Reporting

First-time adoption of International Public Sector Accounting Standards by Russian universities: Practical aspects

2020 ◽  
Vol 23 (4) ◽  
pp. 364-383
Author(s):  
L.I. Kulikova ◽  
I.I. Yakhin
Keyword(s):  
Higher Education ◽  
Public Sector ◽  
Financial Reporting ◽  
Higher Education Institutions ◽  
Accounting Standards ◽  
Educational Process ◽  
Academic Excellence ◽  
Public Sector Accounting ◽  
First Time ◽  
Russian Universities

Subject. This article examines the practice of first-time applying the International Public Sector Accounting Standards (IPSAS) by Russian higher education institutions. Objectives. The article aims to identify and address the problems associated with such application, and conduct a critical analysis of Russian universities' compliance with the requirements of the International Standards on their first-time adoption. Methods. For the study, we used observation, systematization, and a comparative analysis. Results. The article examines and describes the practical experience of the first-time use of IPSAS in the preparation of reporting by Russian educational institutions participating in the Russian Academic Excellence Project (5Top100 Project). It presents the results of the most typical reclassification adjustments of reporting items made by the universities when preparing their inductive statements of financial position as of the date of transition to IPSAS. Conclusions and Relevance. Most of the universities studied complied with the requirements of the IPSAS first-time adoption and provided comparative information in their first IPSAS financial reporting. The importance of the study is to justify the provision that financial reporting in accordance with IPSAS is appropriate to improve the international competitiveness of universities, which makes it possible to better reflect financial information on the activities of universities. The results of the study can be used in the practical activities of the Russian economy public sector organizations, and in the educational process of higher education institutions.

Federal public finance accounting standard “Employee Payments”

2020 ◽  
pp. 5-10
Author(s):  
Olga Shinkareva
Keyword(s):  
Public Finance ◽  
Public Sector ◽  
Financial Reporting ◽  
Financial Statements ◽  
Employee Benefits ◽  
Reporting Standard ◽  
Accounting Standard ◽  
Disclosure Of Information

The article is devoted to the analysis of the Federal Accounting Standard of Public Finance “Payments to Personnel”, which will be applied in the conduct of accounting and reporting from January 1, 2021, including medical state and municipal institutions. The article considers the main provisions of this standard — peculiarities of recognition and evaluation of objects of personnel benefits accounting, termination of their recognition, as well as disclosure of information on objects of personnel benefits accounting in accounting financial statements. This standard is compared with the International Public Sector Financial Reporting Standard 39 “Employee Benefits”

scholarly journals On certain development aspects of an ipsas-based system-target approach to evaluation of net asset sustainability level projects in high-rise construction

2018 ◽  
Vol 33 ◽  
pp. 02071 ◽  
Author(s):  
Ruben Kazaryan
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Legal Status ◽  
Accounting Standards ◽  
Legal Aspects ◽  
Financial Reporting Standards ◽  
High Rise ◽  
Net Assets ◽  
Autonomous Institution ◽  
The Right

Problems of accounting and reporting of net assets and the procedure of their formation taking into account the specifics of the economic and legal status of property of a non-commercial autonomous institution are some of the most controversial in the accounting for entities of the public sector. The study focuses on justification of accounting rules for net assets of public sector entities. The methods used in the study are as follows: comparison, synthesis, analysis, logical approach, and system approach. The article examines legal aspects and specifics of recognition of assets of public sector entities in accordance with IPSAS standards (International Public Sector Accounting Standards are a set of accounting standards issued by IPSASB (Council for International Financial Reporting Standards for Public Sector Organizations) used by state-owned enterprises worldwide in preparation of financial statements as of the 31st of August, 2015. The most crucial factor in the modeling of key performance indicators of the system-target approach to estimation of the sustainability level of net assets on the basis of IPSAS is a multicriterial evaluation of the basic management strategy for quality system elements used in operational and strategic planning projects operations in high-rise construction. We offer an alternative evaluation of assets due to be returned to the right holder (the state controller) in the event of liquidation of a public sector entity.

scholarly journals Conceptual provisions of information systematization to analyze the financial sustainability of the university

2021 ◽  
Vol 22 (6) ◽  
pp. 711-724
Author(s):  
Artem V. KRIVOSHEEV
Keyword(s):  
Public Sector ◽  
Economic Analysis ◽  
Financial Reporting ◽  
Financial Stability ◽  
Objective Assessment ◽  
Information Support ◽  
Financial Sustainability ◽  
Comparison Results ◽  
The University ◽  
High Degree

Subject. This article explores the need of public sector organizations, and universities in particular, to classify the source data to conduct a reliable and trustworthy analysis of their financial stability. Objectives. The article aims to develop information support for a comprehensive economic analysis of the financial stability of the university by determining the sources of data used to analyze its financial stability. Methods. For the study, I used the methods of analysis, synthesis, and comparison. Results. Based on the study of accounting (financial) reporting indicators, the article proposes to determine three levels of data systematization, i.e. managerial, departmental, and public ones. The article substantiates proposals to clarify the provisions of the Instructions on the preparation, presentation of the annual, quarterly accounting of State (municipal) budgetary and autonomous institutions for economic analysis of the financial stability of public sector institutions. Conclusions. The current state of the methods used to assess financial stability makes it difficult to widely disseminate and implement them in the analytical activities of public sector institutions, including universities. Practical application of the original developments by grouping data sources to analyze the financial stability of the university, as well as the division of these groups into levels will help provide the most objective assessment, which will have a high degree of confidence in the assessment of the financial sustainability of budgetary and autonomous institutions of higher education.

scholarly journals Waiting for the next wave: trajectories, narratives and conveying the state of public sector reform

2009 ◽  
Vol 5 (1) ◽  
Author(s):  
Evert Lindquist
Keyword(s):  
New Zealand ◽  
Public Sector ◽  
Public Management ◽  
New Public Management ◽  
Economic Transformation ◽  
The State ◽  
Government Officials ◽  
State Sector ◽  
Democratic Reform ◽  
New Public

With the adoption of the State Sector Act in 1988, the New Zealand public sector revolution was in full motion. The Act was one of many initiatives that provided a new framework for government and managing public services (Boston et al., 1996; Scott, 2001). New Zealand rapidly became the poster child for what became known as the New Public Management, and an archetype scrutinised around the world. The audacity and intellectual coherence of the New Zealand model became a standard against which the progress of other governments was judged. These reforms were part of  a larger social and economic transformation which led to dislocation and democratic reform. In the crucible of introducing and implementing these reforms, and in the inevitable re-adjustment phases, New Zealand gained a reputation for continuous reflection on its progress by its political leaders, government officials and a small band of impressive academics.

scholarly journals Tasks of state-owned enterprises and their impact on accounting and reporting information

2021 ◽  
Vol 2021 (9) ◽  
pp. 99-116
Author(s):  
Ljudmyla LOVINSKA ◽  
◽  
Andrii MAMYSHEV ◽  
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
The State ◽  
International Financial Reporting Standards ◽  
Reporting Standards ◽  
Market Conditions ◽  
Theoretical Understanding ◽  
Important Place ◽  
Financial Reporting Standards

The purpose of the article is to establish ways to implement the tasks of public sector entities in ensuring responsibility and accountability of state-owned enterprises, taking into account market conditions and the transition to international financial reporting standards (IFRS) in the context of determining the place and role of accounting information. The research methodology is based on the application of dialectical and systematic approaches to scientific knowledge and general theoretical understanding of the problems of functional and accounting-analytical support for the management of state-owned enterprises in the application of IFRS. The results of the analysis of modern tendencies of the organization and functioning of the state-owned enterprises are covered. The importance of public sector entities in the global dimension, as well as the features of the organization, challenges and tasks of state-owned enterprises in market conditions are shown. It is determined that the main tasks to be performed by state-owned enterprises are : provision of certain state services and specific goods, support of the national economy and strategic interests, doing business in a natural monopoly, as well as support of social goals of the state. The specificity of the tasks of state-owned enterprises and their important place in the state economy through the role of a special agent of the government for the implementation of state policy in a particular area is substantiated. A new look at these processes involves increasing the transparency and accountability of businesses, which is closely linked to improving the quality of accounting data on the activities of state-owned enterprises. Based on the results of the study, the algorithm of decisions on determining, assessing and reviewing the value of a state-owned enterprise based on the expression of its social, economic, environmental and tax impacts has been improved. There is a problem of harmonization of methodological support for the preparation of aggregate reports of the general government sector (GGS), which arises due to the existing differences between different sets of standards for financial reporting of GGS sector entities (International Financial Reporting Standards (IFRS) - for public corporations and National provisions (standards) of accounting in the public sector (NP(S)APS) - for all other entities of the GGS sector).

scholarly journals Institutional Isomorphism And Adoption Of International Public Sector Accounting Standards By African Countries

2019 ◽  
Vol 7 (05) ◽  
Author(s):  
Dr. Muganda Munir Manini
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Financial Management ◽  
Public Funding ◽  
Accounting Standards ◽  
Target Population ◽  
Institutional Isomorphism ◽  
African Countries ◽  
The Public ◽  
Public Sector Accounting

The international harmonization of financial reporting standards in the public sector is one of the significant public sector accounting reforms which have gained prominence in the recent past under the New Public Financial Management order. However, previous empirical evidence provided mixed results on the extent of African countries’ decision on the adoption of International Public Sector Accounting Standards and its relationship with institutional isomorphism factors. The purpose of this study was to examine the influence of institutional isomorphism (normative, mimetic and coercive) on the adoption International Public Sector Accounting Standards by African countries. The target population was 54 countries; however the final sample was 29 countries which comprised the dataset. A logistic regression analysis was thereafter conducted. Based on the Institutional Theory, the study revealed external public funding (coercive isomorphic pressure), the countries’ global competitiveness (mimetic isomorphic pressure), and human capital (normative isomorphic pressure) were non significant factors in a countries decision to adopt IPSAS. This study contributes to the literature on the international accounting in the public sector. The results of the study have significant managerial and theoretical implications for accounting standards regulators, researchers, and multilateral organizations.

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