Title: The perspectives of IPSASs introduction in Croatian public sector

Authors: Gorana Roje; Vesna Vašiček; Mirjana Hladika

Addresses: Centre for Public and Nonprofit Sector Development (TIM4PIN), Vukovarska 237a, 10000 Zagreb, Croatia. ' Faculty of Economics and Business, Trg J.F. Kennedy 6, 10000 Zagreb, Croatia. ' Faculty of Economics and Business, Trg J.F. Kennedy 6, 10000 Zagreb, Croatia

Abstract: Some countries base national public sector accounting standards on IPSASs, keeping their own national sovereignty, others prepare IPSASs compliant financial statements, while some intend to change to accruals and consult IPSASs. This paper contributes to the literature on IPSASs implementation and adoption by highlighting changes in progress in Croatia, where neither national public sector accounting standards are developed, nor IPSASs appliance mandatory required, whilst IPSASs are recommended by regulations. This study aims to broaden international discussions about public sector accounting reforms, reflect on Croatian public sector accounting developments, examine the implementation level of accounting solutions defined by IPSASs in Croatian public sector, and specify eligible tendencies towards more comprehensive IPSASs appliance. We discuss the requirements of and compliance with IPSAS 6, 22 and 24. The study shows that although IPSASs are not obligatory enacted in Croatia, certain Croatian public sector financial reporting procedures comply with those recommended by IPSASs. [Received: 2010; Accepted: 2011]

Keywords: accounting reform; accrual accounting; financial reporting; budgeting; IPSAS; International Public Sector Accounting Standards; Croatia; public sector organisations.

DOI: 10.1504/IJPSPM.2012.048742

International Journal of Public Sector Performance Management, 2012 Vol.2 No.1, pp.25 - 43

Published online: 29 Aug 2012 *

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