New development: The development of standardized charts of accounts in public sector accounting

Susana Jorge, Giovanna Dabbicco, Caroline Pontoppidan, Diana Vaz de Lima

Forskningsoutput: TidskriftsbidragArtikelPeer review

1 Citeringar (Scopus)

Sammanfattning

IMPACT: Charts of Accounts (CoAs) in the public sector are important to control accounting records. They support the preparation of accurate and reliable financial statements and consolidated reporting. Standardized CoAs at the national level are desirable but specificities of different public sector areas must be considered, as well as harmonization with budget and Government Finance Statistics (GFS) classifications. Having broad international guidance for each country to develop its own CoA, while fostering public sector financial reporting harmonization, would allow for improved comparability of fiscal effects during difficult periods, such as the Covid 19 pandemic. ABSTRACT This article addresses the development of standardized Charts of Accounts (CoAs) in public sector accounting and reporting. In particular, it focuses on matters concerning the role CoAs have, or should have, at a national level, their main technicalities and the expected impact of using them as a bookkeeping instrument on the accuracy of accounting records and, ultimately, on the reliability and usability of the financial information for different purposes. Empirical evidence is provided from a survey to representatives of accounting international and national (Belgium, Brazil, Estonia and Portugal) standard-setters and preparers.

OriginalspråkEngelska
Sidor (från-till)530-533
Antal sidor4
TidskriftPublic Money and Management
Volym42
Nummer7
DOI
StatusPublicerad - 2022-okt.-12

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