За необходимостта от прилагане на устойчив, концептуално базиран, стандартизиран модел за счетоводно отчитане на културното наследство в публичния сектор на България
Оn the Need of a Standardized Model for Accounting of Heritage Assets in the Public Sector of Bulgaria

Author(s): Daniela Feschiyan
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Governance, Public Administration, Economic policy, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: public sector accounting; assets; heritage assets; International Public Sector Accounting Standards; financial reporting; financial statement; financial report; accounting model
Summary/Abstract: This study proves the need for the implementation of a new conceptually based standardized model for accounting of heritage assets as a component of the management of public assets. The argumentation for the scientific and social relevance of the issues is determined by the following considerations: there is a lack of separate national and international accounting standard for the reporting of heritage assets in the public sector entities; in this country there are no professional debates on the highlighted issues; in 2021 the Institute of Certified Public Accountants in Bulgaria (ICPA) set up a working group on the problems of financial reporting in the public sector. The author s member of this group and participated in the process of legalizing and popularizing of the Conceptual framework for financial reporting in the public sector and IPSAS. Based on a retrospective critical analysis of the legal framework, the lack is exposed of a standardized model for accounting of heritage assets. The irrelevance is proved of the application of IPSAS 17 Property, plant and equipment (IPSASB, 2022) to heritage assets. What has been examined is the outlined trend in a diachronic aspect toward the frequent change of the standard in response to the existing problems and limitations related to the reporting of public assets. What has been tracked is the ongoing work of the International Accounting Standards Board with a view to improving public asset reporting (heritage assets) and the adoption of the new IPSAS 45 Property, plant and equipment (IPSASB, 2023), in which only some aspects are treated in heritage asset reporting and which, in the author’s view, is not narrowly targeted at the problems of the accounting of heritage assets. It is suggested that a conceptually based standardized model for heritage asset accounting should be adopted that will bring positive effects with regard to the benefit of financial reports for society at large as well as to the information about heritage assets in Bulgaria. The place of tangible heritage assets has been identified within the structure and content of general purpose financial reports. Arguments have been given in favor of the constructed two-component conceptually based standardized accounting model for heritage asset reporting. The effects are systematized of the introduction of an improved conceptually based standardized model and the assumption is held that the problem at the national level may be resolved only by the adoption of accounting standards that could possibly replace the current practice of the regulation of the accounting system in the public sector in Bulgaria through instructions and orders. The introduction of this new model will reduce subjectivity in reporting, the credibility will be raised of accounting information and ultimately the accounting methodology of public sector financial reporting and the currently existing practice will be improved. To reaffirm the research assumption and the accompanying working hypotheses the results from a empirical survey have been presented.

• Details
• Contents