Use of internal reports at Croatian higher education institutions

Kostić, Martina Dragija; Vašiček, Vesna; Lutilsky, Ivana Dražić

doi:10.22598/zefzg.2017.2.69

Cited by 1 publication

(1 citation statement)

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“…Standard setters and legislators issue requirements to assure a minimum level of information that is provided in financial statements and to standardize reporting for different stakeholders. Financial statements based on such standardized reporting play an important role in providing high-quality information for decision-making, especially to stakeholders about the management of assets in public sector (Dragija, 2014). Production and disclosure of financial statements often require significant resources.…”

Section: Introductionmentioning

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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Section: Introductionmentioning

confidence: 99%