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Analysis of Public Accounting Systems in the European Union

Author

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  • Sabrina Bellanca
  • Loredana Cultrera
  • Guillaume Vermeylen

Abstract

Public accounting is continuously evolving and accrual accounting gains importance in governments. As a part of the New Public Management, this concept applies the practices used in the private sector to the public sector. The application of new accounting methods improves financial management and decision making. The European Union, through its Directive 2011/85/EU of November 8, 2011, is really sensitive to the use of reliable and transparent accounting data and accrual accounting could be a very interesting tool to provide quality data. So, the aim of this paper is to analyze the accounting systems used in the European Union Member States. After a review of the literature including concepts of New Public Management and accrual accounting, we classify, on the basis of a survey carried out in the European Union Member States, the States according to the accounting system they use at the central level and at the local level. This system can be cash basis accounting, modified cash basis accounting, accrual accounting or modified accrual accounting. We conclude that there are important disparities between the Member States and also within the country from a government level to another. However, we can see that accrual accounting is dominant in the European Union Member States.

Suggested Citation

  • Sabrina Bellanca & Loredana Cultrera & Guillaume Vermeylen, 2015. "Analysis of Public Accounting Systems in the European Union," Research in World Economy, Research in World Economy, Sciedu Press, vol. 6(3), pages 23-35, September.
    • Handle: RePEc:jfr:rwe111:v:6:y:2015:i:3:p:23-35
    DOI: 10.5430/rwe.v6n3p23
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    References listed on IDEAS

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    1. Dirk-Jan Kraan & Daniel Bergvall & Ian Hawkesworth & Philipp Krause, 2007. "Budgeting in Hungary," OECD Journal on Budgeting, OECD Publishing, vol. 6(3), pages 1-61.
    2. Teresa Curristine & Chung-Keun Park & Richard Emery, 2008. "Budgeting in Portugal," OECD Journal on Budgeting, OECD Publishing, vol. 8(3), pages 1-60.
    3. Ian Hawkesworth & Daniel Bergvall & Richard Emery & Joachim Wehner, 2008. "Budgeting in Greece," OECD Journal on Budgeting, OECD Publishing, vol. 8(3), pages 1-50.
    4. Dirk-Jan Kraan & Joachim Wehner & Kirsten Richter, 2008. "Budgeting in Estonia," OECD Journal on Budgeting, OECD Publishing, vol. 8(2), pages 1-40.
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    Cited by:

    1. Milana OTRUSINOVÁ, 2016. "Public sector accounting in the Czech Republic and Slovakia," REVISTA ADMINISTRATIE SI MANAGEMENT PUBLIC, Faculty of Administration and Public Management, Academy of Economic Studies, Bucharest, Romania, vol. 2016(27), pages 30-45, Decembre.
    2. Christofzik, Désirée I., 2019. "Does accrual accounting alter fiscal policy decisions? - Evidence from Germany," European Journal of Political Economy, Elsevier, vol. 60(C).
    3. Maria Ciurea, 2018. "Considerations on the Need to Implement International Accounting Standards for the Public Sector in Romania," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 18(1), pages 35-44.
    4. Martin Dvořák, 2016. "The rate of implementation of accrual based accounting in the EU public sector [Míra implementace akruálního principu v účetnictví veřejného sektoru států EU]," Český finanční a účetní časopis, Prague University of Economics and Business, vol. 2016(3), pages 25-37.
    5. Irlan Fery, 2018. "The Influence of Information Technology on Application of Accrual Accounting," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 8(3), pages 194-208, July.
    6. Cristina Silvia NISTOR & Cristina Alexandrina ȘTEFĂNESCU, 2021. "The Link Between Public Management and Accounting from the Point of View of Performance," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 2(1), pages 60-72, January.

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