Public Sector Accounting and Budgeting

Public Sector Accounting and Budgeting

The importance of the conceptual framework of financial reporting in the public sector

Document Type : Review Article

Author
Ali Faraji
Accounting Group, Qazvin Branch, Islamic Azad University, Qazvin, Iran
Abstract
The conceptual framework is the underlying concepts on the basis of which accounting standards are properly or continuously developed, or revised. The question that arises is what is the significance of the conceptual framework and what developments have taken place. For this purpose, the conceptual framework and the statements of its constituent concepts have been studied, analyzed and compared. The purpose of this study is to investigate and analyze the importance of the conceptual framework of financial reporting in the public sector. Understanding the conceptual framework helps to solve accounting and financial reporting issues and sets arbitration boundaries. Changing stakeholder information needs in the new environment may necessitate a revision of the conceptual framework. 
Keywords
Conceptual framework
The Statement of accounting concept
Public sector accounting
Theoretical foundations of financial reporting

Subjects

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باباجانی، جعفر. (1389). مبانی نظری حسابداری و گزارشگری مالی شهرداری‌­ها. مرکز مطالعات برنامه­‌ریزی شهر تهران، چاپ اول.
Marshall, D., Fischer, M.L., Flasher, R., Holmes, A.F., Jessup, C.M. & Moore, L. (2018). Response to the GASB Invitation to Comment on Financial Reporting Model Improvements—Governmental Funds. Journal of Governmental & Nonprofit Accounting, 7(1), 87-96.
Public Sector Accounting and Budgeting
Volume 1, Issue 1
September 2020
Pages 89-104

  • Receive Date 22 November 2020
  • Revise Date 03 December 2020
  • Accept Date 11 December 2020