A Model for Financial Reporting of Fixed Tangible Assets in Public Sector Entities Cover Image

A Model for Financial Reporting of Fixed Tangible Assets in Public Sector Entities
A Model for Financial Reporting of Fixed Tangible Assets in Public Sector Entities

Author(s): Daniela Feschiyan
Subject(s): Economy
Published by: Стопанска академия »Д. А. Ценов«
Keywords: Public sector accounting; fixed tangible assets; International Public Sector Accounting Standards; accounting model; depreciation; valuation

Summary/Abstract: The article reviews some of the disadvantages related to the current model of financial reporting of fixed tangible assets in public sector entities. A prerequisite for the occurrence of the researched problems is the lack of standardization in the accounting system of those entities. The author suggests a standardized model and supports the thesis that the problem could only be solved through the adoption of accounting standards replacing the existing practice of regulating the accounting process in public sector entities with instructions and letters. The suggested standardized accounting model for primary recognition, current and regular valuation of fixed tangible assets projects the means and ways for improving the accounting system of public sector entities by adapting it to the conceptual framework of the International Public Sector Accounting Standards.

  • Issue Year: 2013
  • Issue No: 2
  • Page Range: 29-42
  • Page Count: 14
  • Language: English