The Profitability of the Public Sector Entities, Between Present and Future
Author:
Univ. Prof. PhD Eugeniu ŢURLEA, Associate professor PhD Aurelia ŞTEFĂNESCU
JEL:
DOI:
Keywords:
performance, result, commitment accounting, credibility, International Accounting Standards for the Public Sector
Abstract:
The complex activity into the public sector entities, nature of service delivery, limits of public resources together with increased various demands on quality services are the prerequisites for the definition and measurement of performance within the public sector entities.\r\nBy the undertaken study, were systematized the definition, measurement and dissemination of performance into the public sector entities at national and international levels. There have been identified the assertions of performance concept into literature, according to national and international regulations, the view upon this concept. The authors propose a new vision of performance into the public sector entities in Romania. \r\nThe research is based on a synthesis of materials, published by national and international accounting regulators, by professional accounting bodies, into works proposed for debate upon this theme. \r\nThe information on the performance of public sector entities is getting more and more interesting taking into account the current context, characterized by a slow-down in economic growth, together with an appreciation of income disparity, as a result of economic recession deeply felt worldwide and at national level, too. The state (and its entities) must meet the requirements of guarantee of the service quality delivered to the public during financial resources limitation, fact which demands financing alternatives and partnerships with private sector entities, both at internal and external levels. It is a real necessity that the public sector entities should supply relevant, credible and comparable information regarding their performance. Thus, the International Accounting Standards for the Public Sector will be both a performance reporting base and reference norms for statutory audit. This is the way to consolidate the good public governance, further control and also, the trust between the public entities and the resource suppliers, and various users.