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Arguments for introducing accrual based accounting in the public sector

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  • Bunea-Bontaş, Cristina Aurora
  • Petre, Mihaela Cosmina

Abstract

From a long time, accounting for public entities has been on a cash basis, with no change until the '80s when it was considered appropriate that these should move closer to commercial accounting principles practiced in the private sector. Demands for better accountability by governments and by public sector managers are being heard around the world as the public realizes that living on credit is not sustainable for individuals and the same principle applies to governments. The paper highlights the main characteristics of accrual accounting, arguments and counter-arguments on this reform and particular aspects of Public Accountancy reform in Romania through introduction of accounting-based accrual, in order to facilitate better planning, financial management and decision making in government as well as an accepted way of measuring the economy, efficiency and effectiveness of public policies.

Suggested Citation

  • Bunea-Bontaş, Cristina Aurora & Petre, Mihaela Cosmina, 2009. "Arguments for introducing accrual based accounting in the public sector," MPRA Paper 18134, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:18134
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    File URL: https://mpra.ub.uni-muenchen.de/18134/1/MPRA_paper_18134.pdf
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    References listed on IDEAS

    as
    1. Ecobici, Nicolae, 2008. "IPSAS versus National Norms on Public Institutions' Own Capitals," MPRA Paper 11228, University Library of Munich, Germany.
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    Cited by:

    1. Daniela Georgieva, 2016. "The applicable base of the accountancy in the public sector," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 108-118.
    2. Sangmok Lee & Hadi Salehi Esfahani, 2020. "The effect of fiscal system reform on fiscal policy outcomes," Scottish Journal of Political Economy, Scottish Economic Society, vol. 67(2), pages 186-200, May.

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      More about this item

      Keywords

      public sector; accrual-based accounting; public accountancy reform in Romania;
      All these keywords.

      JEL classification:

      • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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