+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Finance and Credit
 

Studying the global use of international public sector accounting standards

Vol. 26, Iss. 11, NOVEMBER 2020

Received: 24 September 2020

Received in revised form: 8 October 2020

Accepted: 22 October 2020

Available online: 27 November 2020

Subject Heading: Financial system

JEL Classification: M41, M48

Pages: 2524–2541

https://doi.org/10.24891/fc.26.11.2524

Chertkova A.V. Perm State National Research University (PSU), Perm, Russian Federation
anastasiya-perm@yandex.ru

ORCID id: not available

Subject. The article analyzes the international application of the International Public Sector Accounting Standards (IPSAS) so as to evaluate and use successful practices of implementing and applying them, and avoid typical errors in settling and harmonizing the Russian accounting practice in accordance with the IPSAS.
Objectives. I formulate what mainly distinguishes the international use of the IPSAS.
Methods. The study is based on the comparative analysis method.
Results. As a result of the study, I discovered some difficulties in implementing and adopting the IPSAS. In theory, the difficulties can be divided in two groups, i.e. technological, organizational and financial. The technological difficulties arise from the use of modern ICT ensuring fast and quality financial reporting under IPSAS. The organizational problem is about finance. Accounting reforms, accounting staff training entails considerable governmental spending.
Conclusions and Relevance. Reforming the financial (budgetary) accounting process and financial reporting in Russia, authorities should refer to the international experience in the IPSAS. Doing so, they will be able to streamline the harmonization of financial reporting.

Keywords: international financial reporting standards, public sector, government spending, government finance

References:

  1. Larina S.E. [General and special features in the development of budget decentralization]. Vestnik Adygeiskogo gosudarstvennogo universiteta. Seriya 5: Ekonomika = Bulletin of the Adyghe State University. Series Economics, 2013, no. 4, pp. 43–52. URL: Link (In Russ.)
  2. Ivinskii D.V., Chepurova I.F. [Business activity of higher education institution as element of market economy]. Sotsial'no-ekonomicheskie yavleniya i protsessy = Social ad Economic Phenomena and Processes, 2014, no. 3, pp. 31–36. URL: Link (In Russ.)
  3. Gorodilov M.A., Gladkikh Ya.N. Razvitie innovatsionnoi deyatel'nosti i uslug v natsional'nykh issledovatel'skikh universitetakh kak faktor sotsial'no-ekonomicheskogo razvitiya regiona: monografiya [Developing innovative activities and services in national research universities as a driver of the region’s socio-economic development: a monograph]. Perm, PSU Publ., 2019, 116 p.
  4. Mirzagalyamova Z.N. [Financial stability of the higher education institution in the context of organizational changes]. Vestnik ekonomiki, prava i sotsiologii = Bulletin of Economics, Law and Sociology, 2014, no. 4, pp. 65–69. URL: Link (In Russ.)
  5. Prodanova N.A., Zatsarinnaya E.I., Nabiev Sh.Kh. [The use of IPSAS in the Republic of Tajikistan]. Biznes i dizain revyu = Business and Design Review, 2016, no. 1, p. 2. URL: Link (In Russ.)
  6. Sharipov A.K., Sisembaeva D.R. [The evolution of IFRS and IPSAS in the Republic of Kazakhstan]. Molodoi uchenyi = Young Scientist, 2015, no. 8, pp. 694–695. (In Russ.)
  7. Whitefield A.A., Savvas P. The Adoption and Implementation of the International Public Sector Accounting Standards: The Challenges Faced by the United Nation in Producing UN-IPSAS Compliant Financial Reports in Kenya. International Journal of Finance and Accounting, 2016, vol. 1, no. 1, pp. 75–91. URL: Link
  8. Manichkina M.V., Kupina V.V. [About the problems of using the International Public Sector Accounting Standards as a tool for reformation of accounting and reporting og the budgetary sphere]. Nauchnyi zhurnal KubGAU, 2017, no. 129, pp. 62–67. URL: Link (In Russ.)
  9. Rudakova T.A., Trubchenko E.I. [IFRS-compliant accounting reforming in the State (public) companies]. Nalogi i finansy = Taxes and Finance, 2018, no. 2, pp. 7–16. (In Russ.)
  10. Klement'eva A.V. [The problems of transition to IFRS]. Innovatsionnoe razvitie = Innovative Development, 2017, no. 12, pp. 114–115. (In Russ.)
  11. Arguchintsev D.A. [Transition of the general government sector to international standards of financial reporting. Basic definitions and problems]. Biznes-obrazovanie v ekonomike znanii = Business Education in the Knowledge Economy, 2017, no. 3, pp. 4–8. URL: Link (In Russ.)
  12. Alaverdyan K.I., Aleksanyan R.A., Tabalina S.A. [International practice of consolidated financial statements presentation at public sector]. Finansovyi zhurnal = Financial Journal, 2018, no. 4, pp. 103–114. URL: Link (In Russ.)

View all articles of issue

 

ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 27, Iss. 9
September 2021

Archive