The Problems of Accounting in a Public Institution: The Case of Slovenia

In the article the author determines that, due to changes during the privatisation process, the Slovenian framework for public institution accounting is unable to assure the relevant presentation of costs, benefits and effects. She therefore proposes certain changes based on solutions applied in the private sector accounting practices. Her conclusions and recommendations, however, are based on a need for a true and fair measurement of a public institution’s results. The recommended way to achieve this goal is the proper application of solutions included in the International Public Sector Accounting Standards issued by the International Public Sector Accounting Standards Board of the International Federation of Accountants.public institution, benefits, costs, effects, Accounting Act, Slovenian Accounting Standards, International Public Sector Accounting Standards, accrual principle

Towards Efficient Public Sector Asset Management

Governments are accountable for providing quality public services to their citizens at the most favourable terms. They are, among other issues, responsible for managing a diversified public asset portfolio. This paper examines one of the critical financial challenges in Croatia: managing public sector assets efficiently. It attempts to facilitate better understanding of public asset management as an integral part of public sector reforms. The lack of reliable information on public assets in place hinders determination of the assets’ value, budgeting for asset management activities and evaluating public asset portfolio performance. As a result, assets are managed on an ad-hoc, often reactive basis. Starting from the concept that public authorities have to be fully accountable to the public, we propose the preconditions necessary for commencing proper public asset management practice in Croatia. Our model might help other countries that are also faced with public asset management inefficiency.public sector assets, centralised asset registry, accrual financial reporting, professional asset management, Croatia

An Initial Study in the Development of International Postgraduate Students Academic Stress Scale (IPSASS)

The aim of this study is to develop a new scale, the International Postgraduate Students Academic Stress Scale (IPSASS), for measuring the sources of academic stress on international postgraduate students. A 79-item prototype was developed by reviewing literatures and conducting interviews. Exploratory Factor Analysis (EFA) was used to investigate the contribution of each item and the number of factor in the IPSASS. The result of study revealed that IPSASS has seven subscales including: (1) Learning Process, (2) Time Management, (3) Financial Problems, (4) Relationship’s Building, (5) Supervision, (6) Acquiring Resources, and (7) Academic Performance. The IPSASS is a reliable and valid instrument for measuring the source and level of academic stress on international postgraduate students. This study has contribution significantly to the literature and practice for providing a valuable understanding regarding psychological and academic issues faced by international postgraduate students.

Effect of International Public Sector Accounting Standards (IPSASs) on Information Delivery and Quality in Nigeria

This study examined the effect of International Public Sector Accounting Standards (IPSASs) on information delivery in Nigeria. The study employed primary data with the study population of seven hundred and ninety nine (799) of which the samples were sourced from the Federal Ministry of Finance, FCT-Abuja and Ekiti State Ministry of Economic Planning and Budget, Ado-Ekiti. Two hundred and sixty-six (266) questionnaires were distributed and all retrieved. One hundred and eighty-three (183) from the Federal Ministry of Finance, FCT-Abuja and eighty-three (83) from Ekiti State Ministry of Economic Planning and Budget, Ado-Ekiti using Taro Yamane’s sample size method. The result of the Cronbach’s Alpha test showed that the questionnaire containing 30 items was reliable with a significant value of 0.813 representing 81.3%. The result of OLS regression of Pre and Post-IPSASs revealed that the coefficient of determination (R2) was 0.510 representing 51.0%, F-test with a value of 136.992 and its P-values were 0.000 which imply that the explanatory variables are positively significant except Understandability that is negatively significant. The study concluded that adoption of IPSAS increased the quality of information delivery thus enhanced level of accountability and transparency of Nigeria public sector. The study recommended that regulatory authorities should adopt adequate measures to ensure compliance by those saddled with the responsibility of preparing public sector financial statements. Also, measures should be taken to enhance the disclosure of relevant financial information that will help users take useful economic decisions. Keywords: Traditional Accounting System, IPSASs, Information Delivery, Accountabilit

THE EFFECT OF INTERNATIONAL PUBLIC ACCOUNTING STANDARDS (IPSASS) ON THE EXPENDITURE OF LOCAL GOVERNMENT AREAS IN NIGEIRA

It is believed in many quarters that Nigeria is corrupt and that this has led to opaque record keeping and little or no accountability, even at the local government level. This study examined the transparency and accountability of the Nigerian local governments, by x-raying their revenues and expenditures between 1993 and 2012.  The study used both primary and secondary data employing Ordinary least square technique.  It was found that both internally generated revenue and grants have a positive relationship with the Nigerian local governments’ expenditure. It was found out that IPSASs’ implementation committees were not effective at Nigerian local government as at 1st January 2015.(did you get up to 2015 ?) The study concluded that no sustainable development would be achieved in Nigeria if the Nigeria local governments’ expenditure continues to increase without a corresponding increase in internally generated revenue, grants and effective accountability and transparency. The study therefore recommended that the expenditure in Nigerian local governments should be reduced while the internally generated revenue and grants should be improved upon. Also, IPSASs implementation committees in Nigerian local governments should be alive to their responsibilities so as to guarantee accountability and transparency in the financial reporting at local governments. What did we actually study – Is it to find if IPSAS, helped in accountability and transparency at the local government level or if the local governments where ‘self-funding’ (have enough resources generated internally). Key words: Local government, Revenue, IPSASs implementation, Transparency and Accountabilit

Adoption of the International Public Sector Accounting Standards in emerging economies and low-income countries : a structured literature review

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Implementing public sector accruals in OECD member states: Major issues and challenges

Drawing on extended new institutional theory, this paper has striven to make heard the voices of accountants, budget officers, and policy makers involved in implementing public sector accruals in different OECD member states. Such voices of the organisational actors and the challenges that they are encountering in the process of implementing accrual accounting and budgeting in their specific settings are missing in the existing public sector accruals literature. The empirical findings of the study demonstrate that the political and technical ambiguities in implementing public sector accruals across countries are much broader than outlined in the academic work and presented in the reports and studies of the proponents. Such challenges, when cascaded down to the organisational level, have brought about vast uncertainty and confusion amongst most of the budget and treasury officers who deal with public sector accruals in their specific jurisdictions, threatening the legitimacy at the organisational level. More communication and collaboration amongst the actors at institutional, organisational-field and organisational levels are therefore needed to build a coherent body of knowledge in facilitating public sector accruals reforms across countries

Diffusion of the Cash Basis International Public Sector Accounting Standard (IPSAS) in less developed countries (LDCs) - The case of the Nepali central government

Purpose: The adoption of International Public Sector Accounting Standards (IPSASs) in particular the Cash Basis IPSAS has now become a priority for the World Bank and other donors in less developed countries (LDCs). The paper explores the dissemination and implementation of the Cash Basis IPSAS in Nepal, a less developed country which is considered as one of the front-runners in terms of embracing the Cash Basis IPSAS. Methodology/approach: The paper draws on diffusion theory to explain the internal and external factors related to the adoption and implementation of the Cash Basis IPSAS in the Nepali public sector. Data for the paper are derived from document analysis and semistructured interviews. Findings: The study shows that the adoption and implementation of the Cash Basis IPSAS in Nepal has become more of rhetoric than reality. Claims that the Cash Basis IPSAS is gaining popularity and widespread success across less developed countries are therefore contentious. Research limitations: The case of Nepalese central government may not be adequate to generalise the adoption of the cash basis IPSAS in all less developed countries. Nonetheless, the study provides an overview of on-going public sector accounting reforms in less developed countries. Originality/value: The paper emphasises the need for the identification of good accounting practices for less developed countries rather than forcing them into symbolic acceptance of the Cash Basis IPSAS. An example of such a good practice can be the promotion of certain aspects of modified cash accounting