Presentation of Financial Statements According to IPSAS - a Challenge for Professional Accountants

• Author: Carmen Cretu, Carmen Sirbu, Victoria Gheonea, Nicoleta Constandache
• Pages: 494-507

European Integration -

Realities

494

Presentation of

-

a Chal

Carmen Crețu

1

, Car

1

Danubius University of G

2

Danubius University of G

3

Danubius University of

4

Danubius University of Galat

Abstract: The

International Publ

accounting reform. Problems ar

multiple and n ot

easy to p rove th

the countries' agreement to acce

complex process of aggregating

the financial statements differ by

and business profile. The finan

lengthy, and the information it

professional accountant is the on

they base their decisions on

the a

Keywords: normalization;

stan

accounting

1. Introduction

Transparency in public sector rep

economic crisis, both in the finan

presentation of various commitm

these statements taken from the

fundamental mission to generate

institution is more interesting an

subs

tantiate the request for funds;

and scientific support for dime

collateral resources; if it knows h

-

and all in a context in which eff

The accuracy, which must be sci

in internation

al accounting to suc

es and Perspectives

of Financial Statements According to I

allenge for Professional Accountants

armen Sîrbu

2

, Victoria Gheonea

3

, Nicoleta Constan

f Galati, Faculty of Economics,

carmencretu@univ

of Galati, Faculty of Economics

,

carmensirbu@uiv

of Galati, Faculty of Economics

,

victoriagheonea@

lati, Faculty of Economics

, constandach

e.nicoleta@

ublic Sector Accounting Standards (IPSAS) is an important ste

arising in th e context of adopting a common language thr

e their usefulness, advantages and disadvantages o f using them

ccept and adopt these regulations. The preparation of financi

ng data to form economic and

financial indicators. Content a

by type of institution, accordin g to their kinds, depending on h

ancial statements of public institutions are particularly bro

it provides can often be interpreted only by the professional

only one capable of ensuring providing appropriate informa

e allocation of funds.

standardization

;

International Public Sector Accounting S

reporting is crucial in presenting the implications of

nancial statements and the notes. The accrual accou

itments, it is essential to ensure transparency. „P

he IAS framework ref

ers only to private enterpri

te revenue, and, hence, economic benefits, but it's n

and become more attractive if it knows how to

ds; if it dared to request and obtain financing progr

mensioning and collecting its revenue from taxe

s how to manage cost

s, properly balancing between

efficiency and perspective are not omitted

(Drăgan,

scientifically dissected such a generous topic, has i

such a task (Bogdan, 2004). Accounting literature a

2011

o IPSAS

tandache

4

niv

-danubius.ro

iv

-danubius.ro

a@yahoo.com

a@univ

-danubius.ro

step in public sector

through IPSAS are

hem, so aim will be

ncial statements is a

t and preparation of

n how their funding

broad,

complex and

nal accountant. The

mation to users that

Standards

; public

of the measures on

the

counting, including the

„People” believes that

prises, since they have

's not like that. A public

to base the budget, to

grams; if it offers legal

xes, related activities,

en needs and resources

n, 2008)

.

s invited many experts

re abounds with similar