Public Sector Accounting, Auditing and Control in Croatia

Vašiček, Vesna; Vašiček, Davor

doi:10.1007/978-3-030-03353-8_1

Cited by 4 publications

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“…Moreover, the study findings are relevant to the debate on the sustainability of the European Public Sector Accounting Standards (EPSAS) within the countries of the European Union (as well as the candidate countries for EU membership; Vasicek and Roje, 2019) and of the International Public Sector Accounting Standards (IPSAS) in developing countries (Polzer et al , 2021). In the first case, the European Commission considers the move to accrual accounting and the convergence towards the EPSAS as a necessary step for the accounting harmonisation within the EU, even if the debate continues regarding how to proceed (Rossi et al , 2016).…”

Section: Introductionmentioning

confidence: 99%

Negative effects of the adoption of accrual accounting in the public sector: a systematic literature review and future prospects

Bonollo

2022

JPBAFM

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PurposeSince the 1980s, governments worldwide have been implementing the move from cash to accrual accounting. Scholars initially considered the appropriateness of this accounting reform to be self-evident, but later they have expressed critical views. This paper systematises the existing literature intending to reflect on the adverse effects of adopting accrual accounting in the public sector and identify implications for future research.Design/methodology/approachThe present study builds on a systematic literature review of 106 academic articles published between 1980 and 2021. It is based on the “preferred reporting items for systematic reviews and meta-analyses” (PRISMA) method. Synthesising research through a transparent, rigorous and replicable process makes it possible to identify and discuss the adverse effects of adopting public sector accrual accounting.FindingsSignificant issues are linked to organisational impacts and accountability. Resistance to change is the main negative consequence and is more likely in countries that have chosen to adopt accrual accounting without maintaining cash accounting. The new accounting rules make accounting information more complex and arbitrary for citizens and politicians. How these criticalities should be addressed deserves further investigation.Originality/valueThis paper offers a comprehensive literature review on the drawbacks of adopting accrual accounting in the public sector. It could provide a general lesson to be applied to policymakers of other jurisdictions currently considering this transition to prevent the adverse effects and act proactively.

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Section: Introductionmentioning

confidence: 99%

Negative effects of the adoption of accrual accounting in the public sector: a systematic literature review and future prospects

Bonollo

2022

JPBAFM

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“…Given that Croatia is applying modified accrual accounting in the public sector, some progress towards the application of full accrual accounting already exists (Vašiček and Roje, 2019). In addition, since Croatia is a member of the European Union and there are recommendations by the European Commission for harmonization of the reporting system in public sector accounting among members of European Union, including implementation of full accrual accounting, Croatia will also have, as a member state, an opportunity to implement European Public Sector Accounting Standards (EPSAS) once they are developed (Vašiček et al.…”

Section: Financial Reporting By Public Sector Entities In Croatiamentioning

confidence: 99%

The use and perceived usefulness of public sector financial statements by politicians – evidence from Croatia

Pajković,

Botica Redmayne,

Vašiček

2023

JPBAFM

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PurposeThis study analyses to what extent politicians use public sector entities' financial statements along with the politicians' perceptions of the usefulness of such statements in the politicians' decision-making. The authors analyze financial statements' use and usefulness when the statements are prepared on a modified accrual basis and in the setting where there is the intention of full accrual accounting adoption. In addition, this study provides information about the use of the individual components of financial statements and investigates the reasons why the statements may not be used.Design/methodology/approachThis study was conducted using a questionnaire. The authors surveyed politicians that are members of Croatian public sector bodies. To conduct this research, the politicians were contacted by telephone over the period from February to April 2022.FindingsThe findings of this study are of potential interest to researchers, regulators and policy makers. The findings show that most politicians use financial statements, but the politicians' perception of the statements' usefulness when the statements are prepared on a modified accrual accounting basis is greater than the politicians' actual use of the statements. The findings also show that in the process of making decisions, politicians use the selected financial statements that contain information of interest to the politicians; that the politicians tend to gravitate to the use of reports on revenue, expenses, receipts and expenditure prepared on modified accrual bases which are closer to budgetary reporting; that the politicians use the information that supports the politicians' sphere of responsibility as enforced by legislation.Originality/valueThis study provides insights into the use and usefulness of financial statements in public sector setting where modified accrual accounting is used to prepare the statements and reports. This study provides additional evidence on the significance of legal setting to the financial reporting in public sector.

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“…U Republici Hrvatskoj primjenjuje se modificirana obračunska osnova prilikom sastavljanja financijskih izvještaja te je ostvaren određen napredak prema obračunskoj osnovi (Vašiček & Roje, 2019). U Republici Hrvatskoj također je prisutan dvojni sustav izvještavanja.…”

Section: Uvodunclassified

“…Opis sustava izvještavanja proračuna i proračunskih korisnika u Republici Hrvatskoj ukazuje na činjenicu da je sustav izvještavanja razdijeljen na dva seta izvještaja: Polugodišnji i godišnji izvještaj o izvršenju proračuna te Financijski izvještaji. Zbog dvojnog sustava izvještavanja postoje značajna preklapanja sadržaja (Vašiček & Roje, 2019), kao i problem uspoređivanja proračunskih i računovodstvenih informacija o izvršenju proračuna (Vašiček & Vašiček, 2016) jer je proračun planiran na novčanoj osnovi te izvještaji o izvršenju proračuna moraju slijediti osnovu na kojoj je proračun planiran, dok su računovodstvene informacije sadržane u financijskim izvještajima pripremljene na modificiranoj obračunskoj osnovi.…”

Section: Metodologija I Rezultati Istraživanjaunclassified

Analysis of the Use and Usefulness of Public Sector Entities' Reports in the Republic of Croatia

Pajković¹

2023

Ekonomska misao i praksa

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Svrha je financijskih izvještaja proračuna i proračunskih korisnika pružiti pravovremene informacije o financijskom položaju i financijskoj uspješnosti te novčanim tijekovima. Stoga su financijski izvještaji ključni prilikom poboljšanja odgovornosti i donošenja odluka javnih menadžera. Budući da kvaliteta informacija prezentiranih u financijskim izvještajima ovisi o računovodstvenoj osnovi, a financijski izvještaji pripremljeni na obračunskoj osnovi pružaju najkvalitetnije i najpotpunije informacije, cilj je ovoga rada utvrditi jesu li financijski izvještaji pripremljeni na modificiranoj obračunskoj osnovi korisni u procesu donošenja odluka iz dviju perspektiva: perspektive javnih menadžera te perspektive računovođa u javnom sektoru Republike Hrvatske, koji sudjeluju u procesu pripreme propisanih financijskih izvještaja. Pored financijskih izvještaja, proračunski korisnici pripremaju i izvještaje o izvršenju proračuna te često postoji nesklad između propisanih izvještaja zbog primjene različite računovodstvene osnove. U brojnim zemljama prisutan je dvojni sustav izvještavanja te su provedena istraživanja u tim zemljama ukazala na činjenicu da se preferira korištenje izvještajima o izvršenju proračuna prilikom donošenja odluka. Nadalje, svrha je rada utvrditi preferiraju li javni menadžeri korištenje izvještajima o izvršenju proračuna više nego propisanim financijskim izvještajima. Također, uzimajući u obzir da su prethodno provedena istraživanja ukazala na činjenicu da postoji razlika u korištenju i korisnosti izvještaja javnoga sektora, istraživanjem će se utvrditi je li percepcija korisnosti propisanih izvještaja veća od korištenja. Istraživanje je provedeno metodom ankete na uzorku javnih menadžera i računovođa u javnom sektoru u Republici Hrvatskoj. Utvrđeno je da financijski izvještaji ne zadovoljavaju u potpunosti potrebe javnih menadžera te se reforme u računovodstvu javnog sektora u Republici Hrvatskoj očekuju u bliskoj budućnosti.

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Public Sector Accounting, Auditing and Control in Croatia

Cited by 4 publications

References 0 publications

Negative effects of the adoption of accrual accounting in the public sector: a systematic literature review and future prospects

Negative effects of the adoption of accrual accounting in the public sector: a systematic literature review and future prospects

The use and perceived usefulness of public sector financial statements by politicians – evidence from Croatia

Analysis of the Use and Usefulness of Public Sector Entities' Reports in the Republic of Croatia

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