Different perspectives in public sector accounting harmonisation: IFRS, GFS and IPSAS

Lisa Schmidthuber
Dennis Hilgers
Hannes Hofbauer

In order to compare financial information across companies, organisations, and public entities, accounting standards and accounting practices have to be harmonised. For this purpose, first, the International Financial Reporting Standards (IFRS) have been developed for the preparation of general purpose financial statements of profit-oriented entities. However, some governments also have based their national public accounting standards on IFRS. Second, the Government Finance Statistics (GFS) provide statistics on financial operations, financial position and liquidity situation, especially of the general government sector, and enable analysis of fiscal statistics. Third, public sector accounting should be harmonised at the global level by adopting the International Public Sector Accounting Standards (IPSAS). This chapter describes these three different perspectives in public sector harmonisation and refers to challenges associated with accounting harmonisation.

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ISBN: 978-989-26-1856-2
eISBN: 978-989-26-1861-6
DOI: 10.14195/978-989-26-1861-6_6
Área: Ciências Sociais
Páginas: 143-162
Data: 2019

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Outros Capítulos (16)

Introduction
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History of public sector accounting & alternatives
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Difference between private and public sector accounting
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Budgets and budgetary accounting
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Theoretical approaches to financial accounting purposes and principles
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https://doi.org/10.14195/978-989-26-1861-6_5