Financial Reporting in Public Sector

Financial Reporting in Public Sector

  • Study programme and level:The joint doctoral study programme Governance and Economics in the Public Sector (third cycle)
  • 2nd year
  • 5 ECTS
  • Course type: Elective course
  • Lectures: 20
  • Seminar:  20
  • other forms of study: 20
  • Individual work: 90
  • Lecturer: Davor Vašiček, PhD

1. Objectives and competences

Objectives:

  • to introduce students to the fundamental functional and institutional characteristics of the business processes in the public sector,
  • to explain and clarify global trends in the harmonization of public and private sector reporting systems,
  • to introduce students to the content, possibilities and consequences of International Public Sector Accounting Standards appliance,
  • to enable students to understand the techniques and methods of preparing the General Government consolidated financial statements,
  • to enable students to critically reflect on the public sector efficiency.

Competences:

  • the transfer of theoretical knowledge to practical knowledge,
  • new knowledge enhancement and increasing the understanding of the government economic activities,
  • encouraging research in the field of public sector reform,
  • understanding of government entities’ financial reporting and reports’ analysis, and conducting such activities independently.

2. Content (Syllabus outline)

  • Concepts of Accounting in Governmental Accounting
  • The Convergence of Financial and Statistical Reporting Systems
  • Institutional and functional coverage of Public Sector and Public Sector financial reporting objectives.
  • Governmental accounting in EU countries and International Public Sector Accounting Standards’ implementation
  • The Financial Reports of Government Business Entities
  • The Financial Reports of Budget Entities
  • The Consolidation of Financial Reports
  • Managerial Accounting and financial reports for internal Users

3.  Readings

  • IFAC – IPSASB : »2013. Handbook of Public Sector  International Accounting Standards Pronouncement« , NY, IFAC,  (countinusly available  free of charge) on www.ifac.com
  • Van Greuning, H., Darell, Scott; Terblanche,Simonet: International Financial Reporting Standards – A Practical Guide, World bank, Washington, D. C., IV edition, 2011.
  • Larkin, R. F., DiTomaso M., Not for Profit GAAP 2011, John Wiiley & Sons Inc, NJ 2011

4. Intended learning outcomes

Student will develop new skills in the field o financial reporting in the public sector. Students will contribute to the successful public sector reform.

5. Learning and teaching methods

Lectures and Individual study for the exam.

6. Assessment

Written exam 100%