Public Sector Accounting and Budgeting

Public Sector Accounting and Budgeting

Review of international developments in public sector accounting with a look at developments in Uzbekistan

Document Type : Review Article

Author
Hamid Ardeshiri
Department of Accounting, Yasuj Technical and Vocational University, Kohgiluyeh and Boyer-Ahmad, Iran
Abstract
Public sector accounting has undergone many changes. From changes in the methods used by governments to the implementation of international standards for transparency and performance improvement. Examining the experiences of other countries (both developed and developing) in this regard will lead to better understanding and appropriate decision making. On the other hand, differentiating methods and principles in private sector accounting creates a redoubled effort to uniformize and assimilate public sector accounting principles in international approaches. This article examines the approach of Uzbekistan, as well as some international developments regarding the principles used in public sector accounting. Creating a unique legal basis for the public sector in the process of implementing the government budget, creating and coordinating the mechanism of localization of the International Public Sector Accounting Standards (IPSAS) to improve accounting and reporting practices, are some of the things that are seriously pursued in this country. Although many countries continue to use the cash or adjusted basis in the public sector, it seems that the growing trend in public sector accounting is towards accrual accounting, which is used globally. Governments are often advised to use the IPSAS framework based on International Accounting Standards (IAS) and International Financial Reporting Standards (IFRS) to reap the benefits of its international recognition and acceptance. 
Keywords
Public sector accounting reforms
Transition economics
International Public Sector Accounting Standards
Budget
Uzbekistan

Subjects

Biondi, Y. (2014). Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives for Europe’s Economy and Society. Account. Econ. Law, 4(3), 165–178.
Bracci, E. (2009). Accountability in the Public Sector: From Despair to Where? Available at SSRN: https://ssrn.com/abstract=1387036.
Guthrie, J., Olson, O. & Humphrey, C. (1999). Debating developments in new public financial management: the limits of global theorizing and some new ways forward. Financ Account Manage, 15(3), 209-228.
Ibragimov, K. & Bakieva, I. (2016). Public Sector Accounting Reforms and Developments in Uzbekistan. Research Journal of Finance and Accounting, 7(7), 147-150.
IFAC. (2020). Uzbekistan: Adoption of International Standards. Available at: https://www.ifac.org/about-ifac/membership/country/uzbekistan.
PwC. (2015). PwC Global Survey on Accounting and Financial Reporting by Central Governments. 2nd Edition.
Rossi, M. F., Aversano, N. & Christiaens, J. (2012). Accounting and Reporting Systems in the Public Administrations in Europe vis-a-vis the IPSAS’ Conceptual Framework Issue: Traditional Systems. Available at SSRN: https://ssrn.com/abstract=2150852.

  • Receive Date 04 May 2021
  • Revise Date 01 June 2021
  • Accept Date 20 June 2021