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Economic Alternatives
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year
2018
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3

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Pencho Penchev University of National and World Economy, Bulgaria  - Editor-in-chief

Valentin Kisimov University of National and World Economy

Nikolay Nenovsky University of National and World Economy University of Picardie Jules Verne, Amiens, CRIISEA

Diana Kopeva University of National and World Economy

Matilda Alexandrova University of National and World Economy

Vanya Lazarova University of National and World Economy - Secretary

INTERNATIONAL EDITORIAL BOARD

Ken O'Neill University of Ulster, Northern Ireland

Allan Rosenbaum Florida International University, USA

Andrei Yakovlev  National Research University - Higher School of Economics & Association of Russian Economic Think Tanks (ARETT), Russian Federation 

Nikolay A. Dentchev  Vrije Universiteit Brussel
Fabrizio Bientinesi  University of Pisa

Michalis Psalidopuolos  University of Athens

Kiril Tochkov  Texas Christian University

Dimiter Ialnazov Kyoto University, Japan

Ferdinand Dano University of Economics in Bratislava

Petia Koleva Université Paris Diderot (Paris 7)

Charalambos Tsardanidis Institute of International Economic Relations, Greece

Ovidiu Nicolescu Academy of Economic Studies, Romania

Roshima Said Universiti Teknologi MARA, Malaysia

Franco Sotte University of Ancona, Italy

Milos Kral  University of Economics in Katowice, Poland

Alexander Stetjuha  Transport and Telecommunication Institute, Latvia

Petr Sauer University of Economics, Czech Republic

Stephane Longuet Université de Picardie Jules Verne, CRIISEA

Giovanni Pavanelli  Università degli Studi di Torino

Mahadir Ladisma Universiti Teknologi MARA, Malaysia

Julius Horvath CEU, Budapest

Antonio Magliulo Rome University of International Studies, Italy

Gilles Campagnolo National Center for Scientific Research (at Aix-Marseilles School of Economics), France 

Sophia Davidova University of Kent, UK

Boyka Stefanova University of Texas at San Antonio

Andrzej Sztando Wroclaw Univercity of Economics, Poland

Noor Zahirah Mohd-Sidek Universiti Teknologi MARA, Malaysia


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Economic theories, approaches and methods, with a special focus on Bulgaria and the Balkan peninsula; interdisciplinary problems in economics and management, law and economics, sociology and economics, economic history, history of economic thought, political economy, economic policy, entrepreneurship, computer science and information technology.


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The Process of Harmonization of Public Sector Accounting in the EU Economic Alternatives
year
2013
Issue
4

The Process of Harmonization of Public Sector Accounting in the EU

Abstract

This paper analyzes the need for harmonizing the standards for accounting reporting by fully applying the principle of Accrual Based Accounting in the public sector in the EU member states. It also examines the discrepancy between the accountancy in the public sector, based on the cash flow principle (cash basis) and the Accrual Based principle applied in the process of budgetary surveillance in the EU (ESA 95, 2011). The emphasis is laid on the strong dependency of the statistical information at the European level on the quality of the accounting and information basis of public finances and on Eurostat’s willingness to create a system of harmonized accounting standards, based on the Accrual Based accounting, which are in compliance with ЕSA and applicable to all agents in the State Management sector. This paper further analyzes the standardization of the accounting in the public sector of the EU member states and globally and presents some trends of its development. The conclusion is reached that IPSAS are an indisputable staring point to develop harmonized reports in the EU public sector. IPSAS provide the best basic framework for the development of a set of European Public Sector Accounting Standards.

Keywords

Accounting, public sector, Accrual Based Accounting, European Public Sector Accounting Standards
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