Утицај трезорског система на финансијске извјештаје у јавном сектору // The Influence of Treasury System on Financial Statements in the Public Sector

2018 ◽  
Vol 14 (24) ◽  
pp. 171
Author(s):  
Бобана Чегар
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Theoretical Basis ◽  
Financial Statements ◽  
The Public ◽  
The Third ◽  
The Subject ◽  
The Republic ◽  
The One

Резиме: Организација трезорског система доста је сложена с обзиром на многобројне функције које се обављају у оквиру трезора. Извршење једне од тих функција подразумијева и евидентирање трансакција у вези са прикупљањем и трошењем буџетских средстава што свакако има посљедице и на финансијске извјештаје буџетских корисника. Предмет овог рада је управо сагледавање утицаја трезорског система на финансијске извјештаје. На основу података прикупљених техником анкетног упитника и на основу метода анализе, индукције и дедукције на примјеру Републике Српске дошло се до резултата који показују да је увођење трезорског система олакшало доношење одлука и повећало квалитет финансијског извјештавања у јавном сектору, али да би превазилажењем техничких недостатака који тренутно постоје ефекти били још већи. У прва два дијела рада пружа се теоријски преглед основа финансијског извјештавања у јавном сектору и трезорског система пословања, док је у трећем дијелу приказана методологија истраживања и резултати до којих се дошло истраживањем.Summary: The organization of the treasury system is quite complex due to the fact that many functions performed within the treasury system. The execution of the one of these functions involves recording transactions relating to the collection and spending budget funds, which certainly will affect the financial statements of budget users. The subject of the paper is a consideration of the treasury system impact on the financial statements. Based on the data collected using the questionnaire technique and based on the methods of analysis, induction and deduction on the example of the Republic of Srpska, we came to the result that indicates the treasury system facilitate decision-making and in the same time increase the quality of financial reporting in the public sector, but if overcome technical deficiencies that currently exist, effects will be even greater. The first two parts of the paper provides an overview of the theoretical basis of financial reporting in the public sector and the treasury system, while the third section presents the methodology and the results obtained during research.

scholarly journals Disclosure of Non-Current Tangible Assets Information in Local Government Financial Statements: The Case of Lithuania

Economies ◽  
2019 ◽  
Vol 7 (4) ◽  
pp. 116
Author(s):  
Rasa Kanapickiene ◽  
Greta Keliuotyte-Staniuleniene
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Information Disclosure ◽  
Accounting Information ◽  
Financial Statements ◽  
Disclosure Quality ◽  
The Public ◽  
Tangible Assets ◽  
Public Sector Accounting

The aim of the research is to examine and evaluate the accounting information disclosure quality of the non-current tangible assets in the financial statements of the municipalities of Lithuania and identify municipality characteristics having an impact on the accounting information disclosure quality. Although the question of Lithuania public sector accounting information disclosure quality has been relevant since the Public Sector Accounting and Financial Reporting Reform in 2010, this research is the first of its kind in Lithuania. Based on the legal and regulatory requirements and related scientific literature, the research model of the accounting information disclosure quality in the financial statements has been created. Using the content analysis of consolidated annual financial statements of Lithuanian municipalities (years 2013–2016), the disclosure quality index has been calculated, as well as the accounting information disclosure quality of the tangible assets has been evaluated and compared. The results show that the quality of accounting information disclosure of Lithuanian municipalities in 2013 was low (revealed 37.87% of the mandatory information), while in subsequent years, the disclosure of mandatory information increased (to 45.50% in 2016) and the quality of information disclosure became average. Multiple panel regression analysis revealed that specific factors such as size of the municipality, municipality debt-paying capacity, municipality tangible assets, and municipality revenue, have a statistically significant impact on the accounting information disclosure quality.

scholarly journals Does Audit Quality Matters in Malaysian Public Sector Auditing?

2019 ◽  
Vol 10 (3) ◽  
pp. 203
Author(s):  
Aida Hazlin Ismail ◽  
Natasha Binti Muhammad Merejok ◽  
Muhamad Ridhuan Mat Dangi ◽  
Shukriah Saad
Keyword(s):  
Public Sector ◽  
Financial Reporting ◽  
Financial Stability ◽  
Audit Quality ◽  
Financial Statements ◽  
High Quality ◽  
The Public ◽  
Auditor Switching ◽  
Regression Test

Auditors play a key role in contributing to the credibility of the financial statements on which they are reporting. High-quality audits support financial stability. The responsibility for performing quality audits of financial statements rests with the auditors. However, audit quality is best achieved in an environment where there is support from and appropriate interactions among participants in the financial reporting supply chain. Most prior studies look into audit quality from the perspective of private sector however this study focus on the quality of public sector auditing in Malaysia. There are three independent variables being investigated in this study that are the auditor’s independence, auditor’s competency and auditor’s workload. Data were collected through the distribution of questionnaires to 114 samples of auditors involved in public sector audit in Malaysia. The data were analysed using correlation test and regression test. The findings of this study show that there are positively significant relationship between auditor’s independence and auditor’s competency on audit quality. The results revealed that auditor’s competency is the most significant factor affecting the audit quality in public sector audit. However, results show that auditor’s workload has a negative and insignificant impact on audit quality. Hence, this study recommends that the audit departments to strengthen the audit quality and could improve the quality of the financial reporting in the public sector. In addition, auditor’s competency should be enhanced among the auditors in public sector to ensure high quality of audit work performed. Future studies should explore other variables such as client satisfaction, auditor switching and auditor’s turnover in public sector auditing.

scholarly journals Statutory audit in Slovakia – significant phenomenon of global European changes

2020 ◽  
Vol 74 ◽  
pp. 06006
Author(s):  
Denisa Domaracká ◽  
Veronika Kňažková
Keyword(s):  
Financial Reporting ◽  
Global Economy ◽  
Financial Statements ◽  
Legislative Regulation ◽  
Significant Phenomenon ◽  
The Subject ◽  
The Impact ◽  
Regulation Changes ◽  
Audit Performance

The changing global economy environment also affected the area of statutory audit. Nowadays, statutory audit faces the significant changes not only because of the processes of digitization and automation in accounting and auditing, but because of increased and tightened legislative regulation, too. The most important aspects of financial reporting and auditing are subject to EU Regulations and EU Directives. For this reason, the issue of legislative regulation changes in field of statutory audit in Slovakia has become the subject of our article. Currently, the proposal of amending and supplementing Act. No 431/2002 Coll. on Accounting, as amended underwent an interdepartmental comment procedure. The proposal includes the changes on requirements for statutory audit. This article examines the current proposal to change (mainly increase) the conditions for performing the mandatory statutory audit of financial statements in Slovak audit environment. Our goal is to clarify the reasons and implications behind the changes of Slovak legislation as well as the impact of these changes on audit performance in Slovakia. We believe conducting statutory audits in accordance with the applicable legislation accepted and implemented at international European level can contribute to transparency and improve the quality of audit performance. In order to achieve the goal, it was necessary to choose a purposeful work methodology and research methods.

scholarly journals EARNINGS MANAGEMENT AS A MANIPULATIVE FORM OF FINANCIAL REPORTING

2019 ◽  
Vol 34 (5) ◽  
pp. 1323-1328
Author(s):  
Marija Milojičić ◽  
Snežana Knežević ◽  
Aleksandar Grgur
Keyword(s):  
Earnings Management ◽  
Financial Reporting ◽  
Financial Analysis ◽  
Balance Sheet ◽  
Financial Statements ◽  
Legal Framework ◽  
Business Decisions ◽  
Accounting Principles ◽  
The Republic

The financial statements, as the end product of the accounting information system, are a structural account of the financial position and financial success of an entity's business over a period. Earnings or net profit indicates an important position in the financial statements and is considered as a measure of a company’s success. Earnings management comes from the accounting skills that executives and business owners use when making business decisions. The Generally Accepted Accounting Principles set out in International Accounting Standards (hereinafter IAS) and International Financial Reporting Standards (hereinafter referred to as IFRS) generally give the owner or manager the choice between several accounting methods within the various stages of the accounting process. One of these methods is creative accounting, which is often correlated with the manipulation of financial statements. Creativity in accounting is known to be legal and to stay within the legal framework, but it is often the case that, with its creativity, it is beyond its boundaries. The way managers exercise this discretion is very important to the quality and objectivity of financial reporting.The tendency of the owners, and then the managers, to show the performance of the company better than they really are, is certainly not new. The reason that in the world from the beginning of the 2000s to the present day, both by the scientific and professional public and by the regulatory bodies in charge of financial reporting, particular attention is paid to this problem are the major political and economic scandals caused by the inaccurate presentation of financial statements. It is considered that manipulative accounting practices are applied in the preparation of financial statements when the application of accounting principles is made with the intention of achieving the desired objective, such as, for example, generating greater profit regardless of whether the procedures selected are in accordance with international and local prescribed rules.The prevalence of manipulation of financial statements depends on the situation in the environment, the quality of the normative basis of financial reporting, the quality of management and the ability of accountants to comply with professional and ethical standards. The environment implies the general economic situation, the existence or absence of appropriate legislation, including its implementation, as well as the relation to tax liabilities.The result of the original empirical research is presented in this paper. The research was conducted in the form of a case study of a domestic business entity (the Republic of Serbia), whose main activity is trade in sports and fashion products. The financial analysis was performed using the Beneish model, which was derived from the official financial statements of the companies, collected from publicly available databases (Balance Sheet and Income Statement 2016-2018) as the basic information base in order to discover the degree of possible manipulation of their own earning capacity. This model has become particularly popular since the Beneish M-scoring model revealed the manipulation of the financial results of the US company Enron, which went bankrupt in 2001.

scholarly journals Interactions of Financial Assistance and Financial Reporting Competency: Evidence From Local Government in Papua and West Papua Indonesia

2019 ◽  
Vol 11 (1) ◽  
pp. 1
Author(s):  
Pilipus Ramandei ◽  
Abdul Rohman ◽  
Dwi Ratmono ◽  
Imam Ghozali
Keyword(s):  
Local Government ◽  
Financial Reporting ◽  
Local Governments ◽  
Financial Statements ◽  
Financial Assistance ◽  
Financial Reports ◽  
Additional Information ◽  
West Papua ◽  
The Republic

Good local government financial statements are financial statements according to the qualitative characteristics of financial statements, which are relevant, reliable, comparable and understandable. However, the phenomenon shows that there are still weaknesses in financial reporting in several local governments in Indonesia, especially in the provinces of Papua and West Papua based on the findings of the Audit Board of the Republic of Indonesia (IHPS II BPK, 2017). The purpose of this study is to obtain empirical evidence of the role of moderating financial assistance and apparatus competency on the quality of government financial reports. Explanation of the relationship between variables was using an institutional theory perspective. The survey was conducted in 2018 on 42 Local Governments in Papua and West Papua. Methods of processing and analyzing data were using SEM-PLS with WarpPLS 6.0 statistical software. The results of the apparatus competency research have a positive effect on the quality of financial statements. A financial resistance positively strengthens the influence of apparatus competency on the quality of local government financial reports. Thus, efforts to overcome the presentation of quality financial statements require competent apparatus through the existence of financial assistance policies. Limitations of the study are the method of collecting data using a questionnaire and that it is very possible for the bias to occur. Therefore, efforts to achieve better results need to be accompanied by an interview method in order to obtain additional information as a comparison of respondents' answers; 2) the determination coefficient value of R- square is 0.41 or 41% indicating that there are still 0.59 or 59% variability in the quality of Local Government Financial Statements (LKPD) which can be explained by other variables outside the research model. 

scholarly journals Modelling and Prognosis of the Export of the Republic of Serbia by Using Seasonal Holt-Winters and Arima Method

2016 ◽  
Vol 54 (2) ◽  
pp. 233-260 ◽  
Author(s):  
Jelena Mladenović ◽  
Vinko Lepojević ◽  
Vesna Janković-Milić
Keyword(s):  
Agricultural Production ◽  
Balance Of Payments ◽  
Bilateral Agreements ◽  
Labour Costs ◽  
The Subject ◽  
The Republic ◽  
The One ◽  
High Degree ◽  
Insight Into

Abstract Low labour costs as one of the key sources of export stimulation, the competitive advantage of domestic agricultural production and bilateral agreements with partner countries - all promote export as a potentially significant factor of encouragement of economic development of the Republic of Serbia.Taking into account this fact, on the one hand, and balance of payments problems that Serbia has been facing over the years, on the other hand, the subject of this paper is an analysis of trends in the Republic of Serbia export and explanation of variations in the export trends during the period from 2004 to 2014. The aim of the paper is to explore export trends forecast from January to December 2015.The analysis uses Holt-Winters and ARIMA methods for analyszing time series.The paper provides insight into the export trend forecasts for the period of 12 months, and thus confirms the possibility of practical usage of the time series analysis methods in forecasting macroeconomic variables such as export. The used methods identify increase of export during the summer and its decrease after October 2015. The paper establishes the existence of a high degree of congruence between forecasts obtained by using two methods, which confirm a high quality of the elaborated methods in the analysis of exports.

Digital Divide and the ICT Paradigm Generally and in Estonia

2005 ◽  
pp. 182-187
Author(s):  
Tarmo Kalvet
Keyword(s):  
Quality Of Life ◽  
Economic Growth ◽  
Developing Countries ◽  
Public Sector ◽  
New Technologies ◽  
Third Wave ◽  
The Public ◽  
The Third ◽  
Made In

A multitude of writings have appeared since the 1970s describing how societies have undergone “information revolutions” (Bell, 1973; Castells, 1998; Masuda, 1981), “the third wave” (Toffler, 1980), etc. Indeed, ICT development has been explosive in both developed and developing countries since the 1990s. This, in turn, has given some countries an opportunity for bigger economic growth; attempts have been made in a majority of countries to rearrange the organization of the public sector, and individuals have experienced a rise in the quality of life due to the introduction of new technologies.

scholarly journals Factors Affecting the Performance of Public Sector Practitioners in the Republic of Congo

2020 ◽  
Vol 12 (2(I)) ◽  
pp. 42-61
Author(s):  
Gildas Moukouyou-Kouaka ◽  
Olawumi Dele Awolusi
Keyword(s):  
Public Sector ◽  
Performance Management ◽  
Republic Of Congo ◽  
Factors Affecting ◽  
The Public ◽  
Root Cause ◽  
The Republic ◽  
Traditional Approaches ◽  
Descriptive Survey

In most of the structures of the public sector in the Republic of Congo, the quality of services provided to the general public has never been of good quality as perceived by the population. Consequently, the purpose of this study is to understand the root cause of inefficiency in the public sector of the Republic of Congo. A descriptive survey was designed for this purpose. Gill et al. (2008) argument on the most preferred use of interviews questionnaires in qualitative research was utilized to gather data from the sampled respondents. The data obtained from the individual's interviews were analysed using SPSS software. The traditional approaches of employee's performance management were analysed and plotted. The results of the study revealed that many employees were not adequately trained to perform their duties; in the meantime, most of these employees have not received any training in the last 10-15 years. Furthermore, it was also revealed that the top management doesn't undertake performance management appraisal and also the latter doesn't promote career development. Therefore, the employees suggested capacity building training. Revision of the salary scale and improvement of working conditions as the things that needs to be changed to improve their performance. Finally, the researcher concluded that among others actions that can be taken there is need to initiate a restructuration of the public sector in the Republic of Congo

scholarly journals NON-DISCLOSURE OF FINANCIAL STATEMENTS OF PUBLIC COMPANIES AS AN ECONOMIC OFFENSE IN THE REPUBLIC OF SERBIA

2021 ◽  
Vol 25 (3) ◽  
Author(s):  
Marija Kostić ◽  
Vule M. Mizdraković ◽  
Vladimir Mitić
Keyword(s):  
Financial Reporting ◽  
Stock Exchange ◽  
Financial Statements ◽  
Legal Framework ◽  
Timely Manner ◽  
Public Companies ◽  
Official Gazette ◽  
Time Period ◽  
The Republic

The successful functioning and development of the capital market, along with the possibility of attracting new investments is largely contingent on the quality of financial reporting and the availability of the statements themselves. In view of the fact that the new Law on Accounting of the Republic of Serbia came into force, the question arises to what extent public companies respect legally prescribed deadlines for submitting their statements and by doing so do not commit an economic offense. The primary goal of this paper is to draw attention to the importance of a standardized and efficient legal framework that obliges public companies to publish financial statements in a timely manner. A survey was conducted that encompassed 416 public companies listed on the Belgrade Stock Exchange and their corresponding financialstatements for 2018, as the reporting period. We tried to establish whether the sampled companies disclosed their statements within the deadline prescribed by the Law on Accounting (Law on Accounting, Official Gazette of RS, 62/2013, 30/2018). The results show that most companies disclosed financial statements during the period when they are still considered useful to potential and existing investors. Nevertheless, practice showed that there was room for improvement, and this was achieved with the adoption of the new Law on Accounting, which took effect on January 1, 2020. It integrates the deadline for compiling and disclosing statements, which in fact shortens the time period during which information on the companies’ operations should be made available to the general public and potential investors.

scholarly journals ASPECTS CONCERNING INTERIM FINANCIAL REPORTING IN ROMANIA: STANDARDS AND REGULATIONS

2014 ◽  
Author(s):  
Aristita Rotila
Keyword(s):  
Financial Reporting ◽  
Current System ◽  
Accounting Information ◽  
Financial Statements ◽  
Economic Decision Making ◽  
Different Types ◽  
Annual Reporting ◽  
Standards And Regulations ◽  
The Subject ◽  
The One

The mechanisms employed for the communication of accounting information that is necessary for users in their economic decision-making process consist of the financial statements of an entity. All legal entities, no matter the domain of their activity, have the obligation to draw up annual financial statements for every completed financial year. For certain categories of entities, reporting obligations are also required for periods other than the annual reporting, throughout the financial year. It is the case of interim financial reporting. At the level of the international accounting framework, the aspects related to interim financial reporting are the subject of a separate standard, namely, IAS 34 Interim Financial Reporting. In Romania, the current system of accounting regulations concerning the annual financial statements comprises accounting regulations that comply with the European directives and which apply to the various categories of entities, on the one hand and, on the other, accounting regulations in line with the IFRS, which are applicable to other classes of entities from certain activity sectors. The accounting regulations that apply to each category refer to, among other things, the contents and the format of financial statements that have to be presented. Analysing the system of norms and regulations, this article identifies the requirements concerning interim financial reporting in Romania, with reference to the different types of entities.

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