Click here to download

Accounting harmonization or accounting standardization. Which way for the eurozone reforms
Journal Title: ECONOMIA PUBBLICA  
Author/s: Alessandro Lombrano 
Year:  2021 Issue: Language: Italian 
Pages:  25 Pg. 7-31 FullText PDF:  890 KB
DOI:  10.3280/EP2021-003001
(DOI is like a bar code for intellectual property: to have more infomation:  clicca qui   and here 


European States share monetary policy and are indirectly responsible for the overall debt of the Eurozone. Homogeneous and transparent financial statements are therefore required as well as the adoption of shared public finance policies. These facts ultimately led to the hypothesis of issuing common public accounting standards (EPSAS). Through the analysis of the Italian case, this paper discusses the idea of a common and detailed accounting regulation in a critical perspective. In particular, the objectives of the ventilated reform (coordination and control) are questioned as well as the costs that it would unavoidably produce, the possible inconsistency or redundancy of the identifiable solutions. Research and policy implications are relevant. The harmonization could in fact hide solutions as complex as useless, which is a risk that should be avoided. Conversely, a clear relationship between the accounting instruments and ex-pected results of the reforms must be recovered, also recovering the original pur-pose of National versus Governmental accounting.
Keywords: accounting harmonization, EPSAS, national accounting, accrual ac-counting, governmental accounting
Jel Code: H60, H83

  1. Anzalone M. (2018). L’introduzione della contabilità economico-patrimoniale nelle amministrazioni pubbliche in contabilità finanziaria. In: Anzalone M., a cura di, La contabilità economico-patrimoniale ed il bilancio consolidato delle regioni e degli enti locali. 2a ed. Santarcangelo di Romagna: Maggioli Editore.
  2. Bikiene J. (2011). Problems of public sector accounting and financial reporting standards implementation into practice. Business: Theory and Practice, 12(2): 131-140.
  3. Biondi Y. (2014). Harmonising European public sector accounting standards (EPSAS): Issues and perspectives for Europe’s economy and society. Accounting, Economics and Law, 4(3): 165-178.
  4. Biondi Y. (2016). Accounting representations of public debt and deficits in European central government accounts: An exploration of anomalies and contradictions. Accounting Forum, 40(3): 205-219.
  5. Biondi Y. (2017). Harmonising European Public Sector Accounting Standards (EPSAS): Issues and Perspectives. Accounting, Economics and Law, 7(2): 117-123.
  6. Brorström B. (1998). Accrual accounting, politics and politicians. Financial Accountability & Management, 14(4): 319-333.
  7. Calmel M.P. (2014). Harmonisation of EPSASs (European Public Sector Accounting Standards): Developments and Prospects. Accounting, Economics and Law, 4(3): 215-236.
  8. Chan J.L. (2003). Government accounting: An assessment of theory, purposes and standards. Public Money & Management, 23(1): 13-20., DOI: 10.1111/1467-9302.00336
  9. Dabbicco G. (2015). The Impact of Accrual-Based Public Accounting Harmonization on EU Macroeconomic Surveillance and Governments’ Policy Decision-Making. International Journal of Public Administration, 38(4): 253-267., DOI: 10.1080/01900692.2015.999581
  10. De Jesus M.A.J., Jorge S.M. (2014). From governmental accounting into national accounts: Adjustments diversity and materiality with evidence from the iberian countries’ central governments. Innovar, 24(54): 121-138.
  11. Giosi A., Brunelli S., Caiffa M. (2015). Do Accrual Numbers Really Affect the Financial Market? An Empirical Analysis of ESA Accounts Across the EU. International Journal of Public Administration, 38(4): 297-310., DOI: 10.1080/01900692.2015.999591
  12. Guthrie J, Humprhrey C., Jones L.R., Olson O., editors (2005). International public financial management reform: Progress, contradictions and challenges. Greenwich: Information Age.
  13. Harlow C. (2002). Accountability in the European Union. Oxford: Oxford University Press.
  14. Heald D., Hodges R. (2015). Will “austerity” be a critical juncture in european public sector financial reporting? Accounting, Auditing and Accountability Journal, 28(6): 993-1015.
  15. Hodges R., Mellett H. (2003). Reporting public sector financial results. Public Management Review, 5(1): 99-113., DOI: 10.1080/1461667022000028870
  16. Jones R.H., Caruana J. (2015). EPSAS - Worrying the Wrong End of the Stick? International Journal of Public Administration, 38(4): 240-252., DOI: 10.1080/01900692.2015.999577
  17. Jones R.H., Caruana J. (2016). Governmental accounting in Malta towards IPSAS within the context of the European Union. International Review of Administrative Science, 82(4): 745-762., DOI: 10.1177/0020852315576705
  18. Jorge S.M., Jesus M.A., Laureano R.M.S. (2016). Governmental Accounting Maturity Toward IPSASs and the Approximation to National Accounts in the European Union. International Journal of Public Administration, 39(12): 976-988., DOI: 10.1080/01900692.2015.1068324
  19. Lawrence P.R., Lorsch J.W. (1986). Organization and environment: managing differentiation and integration. Boston: Harvard Business School.
  20. Lombrano A., Zanin L. (2013). IPSAS and local government consolidated financial statements-proposal for a territorial consolidation method. Public Money and Management, 33(6): 429-436., DOI: 10.1080/09540962.2013.836004
  21. Makaronidis A. (2017). European Public Sector Accounting Standards (EPSAS), Accounting, Economics and Law, 7(2): 155-160.
  22. Manes Rossi F., Aversano N., Christiaens J. (2014). IPSASB’s Conceptual Framework: Coherence with Accounting Systems in European Public Administrations. International Journal of Public Administration, 37(8): 456-465., DOI: 10.1080/01900692.2014.903269
  23. Martí C. (2006). Accrual Budgeting: Accounting Treatment of Key Public Sector Items and Implications for Fiscal Policy. Public Budgeting and Finance, 26(2): 45-65.
  24. Mautz R.K. (1981). Financial reporting: should government emulate business? Journal of Accountancy, 152(2): 53-60.
  25. Mussari R. (2014). EPSAS and the Unification of Public Sector Accounting Across Europe. Accounting, Economics and Law, 4(3): 299-231.
  26. Nistor C.S., Stefanescu C.A. (2018). Public accounting reporting, under an achievable metamorphosis? Current Science, 114(10): 2131-2137.
  27. Olson O., Humphrey C., Guthrie J. (2001). Caught in an evaluatory trap: A dilemma for public services under NPFM. European Accounting Review, 10(3): 502-522., DOI: 10.1080/09638180120088303
  28. Oulasvirta L. (2014). The reluctance of a developed country to choose International Public Sector Accounting Standards of the IFAC. A critical case study. Critical Perspectives on Accounting, 25(3): 272-285.
  29. Parker L., Guthrie J. (1990). Public sector accounting and the challenge of managerialism. In: Forster J. e Wanna J., editors, Budget management and control. Melbourne: Macmillan,
  30. Peirce C.S. (2005). Scritti scelti. Edizione postuma a cura di Maddalena G. Torino: UTET.
  31. Perrin J. (1998). From cash to accruals in 25 years. Public Money & Management, 18(2): 7-10., DOI: 10.1111/1467-9302.00108
  32. Pontoppidan C.A., Brusca I. (2016). The first steps towards harmonizing public sector accounting for European Union member states: strategies and perspectives. Public Money and Management, 36(3): 181-188., DOI: 10.1080/09540962.2016.1133970
  33. Rossi F.M., Cohen S., Caperchione E., Brusca I. (2016). Harmonizing public sector accounting in Europe: thinking out of the box. Public Money and Management, 36 (3): 189-196., DOI: 10.1080/09540962.2016.1133976
  34. Sforza V., Cimini R. (2017). Central government accounting harmonization in EU member states: will EPSAS be enough?. Public Money and Management, 37(4): 301-308., DOI: 10.1080/09540962.2016.1266191
  35. Stewart J., Walsh K. (1994). Performance management: When performance can never be finally defined. Public Money & Management, 14(2): 45-49., DOI: 10.1080/09540969409387815
  36. Tsakatika M. (2007). Governance vs. politics: The European Union’s constitutive democratic deficit. Journal of European Public Policy, 14(6): 867-885., DOI: 10.1080/13501760701497840
  37. Wiener M., Stokoe P. (2018). Discussing accrued-to-date liabilities, International Social Security Review, 71(3): 27-48.

Alessandro Lombrano, Accounting harmonization or accounting standardization. Which way for the eurozone reforms in "ECONOMIA PUBBLICA " 3/2021, pp. 7-31, DOI:10.3280/EP2021-003001

   

FrancoAngeli is a member of Publishers International Linking Association a not for profit orgasnization wich runs the CrossRef service, enabing links to and from online scholarly content