The Convergence of Public Institutions Accounting with International Public Sector Accounting Standards (IPSAS)

Author:Doina ILIE, Ph. D. Student, Georgeta ALECU, Ph. D.

JEL:M41, M49

DOI:

Keywords:harmonization, convergence, conformity, accrual accounting, weak points, threats

Abstract:
The objective of this article is to comment the degree of convergence of the national accounting norms for public sector with International Public Sector Accounting Standards, the omissions from implemented standards until now and to present the proposals of the authors for implementation of additional standards, which are the weak points and the threats of this process. \r\nFor this purpose, an analysis of governmental financial statements for 2009 published on the website of Romanian Ministry of Public Finance has been done, also the conformity of those with national public accounting norms and the convergence with IPSAS. \r\nFollowing this analysis, have been established the conformity with national accounting norms and the convergence with international accounting standards, and also the material omissions from IPSAS which can influence the relevance and reliability of financial statements has been underlined.\r\nAt the end, some conclusions of authors have been presented regarding the necessity to adopt IPSAS. \r\n\r\n

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