Difficulties in Reporting and Disseminating the Financial Performance into the Public Sector Entities in Romania

Author:Univ. Prof. Aurelia ŞTEFĂNESCU, Ph. D.; Univ. Prof. Daniela Artemisa CALU, Ph. D.; Univ. Prof. Eugeniu ŢURLEA, Ph. D.

JEL:H83, M41

DOI:

Keywords:public sector entity, accrual accounting, financial performance, difficulties, reporting, International Public Sector Accounting Standards (IPSAS)

Abstract:
The process of adopting the accrual accounting and developing the models of reporting the financial performance by assimilating new ideas of the International Public Sector Accounting Standards (IPSAS) is completed successfully if the public entities improve the manner of disseminating and perceiving information by users. In this context, through the fundamental undertaken research, it is structured the issue of the difficulties in reporting the financial performance of the public sector entities from Romania. \r\nThis research takes into consideration a synthesis of the ideas on this theme published into the professional literature, the regulations issued by the national and international accounting regulators, by organisms belonging to the accounting profession. \r\nThe current article defines the accrual accounting in terms of concept and advantages of using the financial performance as a reporting principle into the public sector. Also, there are analyzed the models of reporting the financial performance in the view of the national regulations and de-regulations and there are identified the difficulties in reporting and disseminating. \r\n\r\n

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