Public accounting reporting, under an achievable metamorphosis?

This study aims to provide a holistic approach of the European Union (EU) fiscal and financial reporting systems by assessing them through European System of National Accounts (ESA 2010) and International Public Sector Accounting Standards (IPSAS) reference, both having the accrual basis as benchmar...

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Bibliographic Details
Published in:Current science (Bangalore) 2018-05, Vol.114 (10), p.2131-2137
Main Authors: Nistor, Cristina Silvia, Stefanescu, Cristina Alexandrina
Format: Article
Language:English
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Summary:This study aims to provide a holistic approach of the European Union (EU) fiscal and financial reporting systems by assessing them through European System of National Accounts (ESA 2010) and International Public Sector Accounting Standards (IPSAS) reference, both having the accrual basis as benchmark of governmental accounting. The empirical research performed by combining the cluster analysis with the multidimensional scaling technique enables us to map all EU member states and emphasize potential connections between their fiscal and financial systems, thus providing a visual image of the two facets of public accounting. The results reveal a wide and strong interest in sound reporting able to improve transparency through performance management systems. These support European Public Sector Accounting Standards project aimed to adjust inaccuracies between IPSAS and ESA 2010 and finally to enhance good governance and create a positive environment by facilitating transparency and comparability.
ISSN:0011-3891
DOI:10.18520/cs/v114/i10/2131-2137