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Comparative review of dual reporting in public sector in three south-east European countries

Comparative review of dual reporting in public sector in three south-east European countries PurposeThe purpose of this paper is to analyze the application of budgeting and accounting bases and their relation to financial accounting reporting systems through a comparative survey of three South-Eastern European countries (Slovenia, Croatia and Bosnia and Herzegovina – the Entity of the Republic of Srpska).Design/methodology/approachThe in-depth analysis based on the study of related literature and comprehensive review of existing indicators of accounting systems leads to the identification and characterization of the most important components of the government accounting systems’ focusing also on the information usefulness in the decision-making processes.FindingsDual reporting based on different bases is the main feature of the accounting information system of selected countries. Budgetary reports based on a cash basis represent the primary source of information for decision making. Selected jurisdictions started with the preparation and presentation of financial reports based on the accrual/modified accrual basis which was not the result of the informational needs of decision-makers, so the information themselves have become their own purpose.Practical implicationsBy exploring the opportunities and obstacles in the implementation of the accrual basis in the selected countries, the paper contributes to the development of the EPSAS project.Originality/valueThis paper contributes to the literature on the application of various budgeting and accounting bases, with an emphasis on research of the similarities and differences of the reporting methods, for the purpose of distinguishing more easily two basic types of reports and, consequently, identifying their appropriate use. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Public Budgeting, Accounting & Financial Management Emerald Publishing

Comparative review of dual reporting in public sector in three south-east European countries

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1096-3367
DOI
10.1108/JPBAFM-02-2019-0035
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to analyze the application of budgeting and accounting bases and their relation to financial accounting reporting systems through a comparative survey of three South-Eastern European countries (Slovenia, Croatia and Bosnia and Herzegovina – the Entity of the Republic of Srpska).Design/methodology/approachThe in-depth analysis based on the study of related literature and comprehensive review of existing indicators of accounting systems leads to the identification and characterization of the most important components of the government accounting systems’ focusing also on the information usefulness in the decision-making processes.FindingsDual reporting based on different bases is the main feature of the accounting information system of selected countries. Budgetary reports based on a cash basis represent the primary source of information for decision making. Selected jurisdictions started with the preparation and presentation of financial reports based on the accrual/modified accrual basis which was not the result of the informational needs of decision-makers, so the information themselves have become their own purpose.Practical implicationsBy exploring the opportunities and obstacles in the implementation of the accrual basis in the selected countries, the paper contributes to the development of the EPSAS project.Originality/valueThis paper contributes to the literature on the application of various budgeting and accounting bases, with an emphasis on research of the similarities and differences of the reporting methods, for the purpose of distinguishing more easily two basic types of reports and, consequently, identifying their appropriate use.

Journal

Journal of Public Budgeting, Accounting & Financial ManagementEmerald Publishing

Published: Sep 2, 2019

References