Statistics focusing on the structure and evolution of economies. They describe and analyse, in an accessible and reliable way, the economic interactions (transactions) within an economy. Often, it is called macroeconomic accounts.
Published in Chapter:
Towards the Modernisation of EU Public Sector Accounting Standards: Lessons From the Reconciliation Between National and Governmental Accounting
Vincenzo Sforza (University of Tuscia, Italy), Alessandro Mechelli (University of Tuscia, Italy), and Riccardo Cimini (University of Tuscia – Viterbo, Italy)
Copyright: © 2018
|Pages: 15
DOI: 10.4018/978-1-5225-3731-1.ch003
Abstract
In the field of comparative international governmental accounting research, this chapter participates to the growing debate around the EPSAS-project that according to the EU Commission has a political priority. In this vein, it demonstrates that considering all the governmental subsectors of public administration (central government, state government, local government, social security funds) of the 28 EU Member States, proximity of national regulation to the IPSAS affects the magnitude of total adjustments. These are a proxy of fiscal fragility and are the difference between the non-harmonized data of governmental accounting and the harmonized ESA-2010 national accounting. Findings show that adjustments are significant in magnitude in countries whose regulation has low proximity to IPSAS; opposite, their magnitude is low in countries with high proximity to the IPSAS. Even if they have not provided the anticipated level of harmonisation, the process of modernising the EU public sector accounting standards cannot ignore that the future EPSAS should not diverge much from the IPSAS.