Since 2014
Accounting Standardization and Financial Reporting in Public Sector in Albania- Future Challenges
European Journal of Sustainable Development
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| Title |
Accounting Standardization and Financial Reporting in Public Sector in Albania- Future Challenges
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| Creator |
Konomi, Ariana; Lecturer, Faculty of Education and Social Sciences, Economic Department, Gjirokastra University. Bejko, Alketa; Lecturer, Faculty of Education and Social Sciences, Economic Department, Gjirokastra University. |
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| Description |
The need for improving and strengthening all the links of financial reporting chain not only in private sector but also in public sector, directly contributes to overcome the 2010-2012 global crisis and helps to transform the ongoing period into a global economic growth period. The governments should implement the necessary institutional measures for public sector growth, financial management transparency and accountability.An integral and fondamental element of these agreements is the usage of accruals (according accounting) by approving and implementing International Public Sector Accounting Standards (IPSAS), which enable the full disclosure of all the assets, liabilities and conditional liabilities, as a basic issue for real assessment and financial management of public sector, extended monitoring of government debt and liabilities, for their real economic implications. The implementation of accounting standards in public sector of Albania, besides the unification of accounting and financial statements preparation, intends to influence right, qualitative and long term decision-making, at all government levels; to increase the effectiveness and efficiency of financial resources; formalize the economy and better fight the phenomena of corruption, fraud, money laundering or fundsabuse; improve the level of fiscal transparency to public and integrate or face the global economy.As the main challenge of this sector and also as a process that needs time, financial reporting, requires a continuous reformation of policies, institutions, structures and professionalsKey words: Accounting standartization, financial management/reporting, public sector.
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| Publisher |
European Center of Sustainable Development
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| Contributor |
—
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| Date |
2014-10-01
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Identifier |
http://www.ecsdev.org/ojs/index.php/ejsd/article/view/145
10.14207/ejsd.2014.v3n3p131 |
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| Source |
European Journal of Sustainable Development; Vol 3, No 3; 131-140
2239-6101 2239-5938 |
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| Language |
en
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| Rights |
This work is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.Authors of articles published in the European Journal of Sustainable Development retain copyright on their articles. Authors are therefore free to disseminate and re-publish their articles, subject to any requirements of third-party copyright owners and subject to the original publication being fully cited. The ability to copy, download, forward or otherwise distribute any materials is always subject to any copyright notices displayed. Copyright notices must be displayed prominently and may not be obliterated, deleted or hidden, totally or partially.
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