Papers by Faniran Ayodele
Financial Accountability & …, 2008
... The government provides services on a collective basis, made by the collective decision to pa... more ... The government provides services on a collective basis, made by the collective decision to pay for them collectively through taxation. The government plays the role of an 'agent' here. ... IPSAS International Public Sector Accounting Standards. NPM New Public Management. P/L ...
European Group of Public Administration, 2003
IFAC Public Sector Committee issued their standard on the cash basis of accounting and the ASB (U... more IFAC Public Sector Committee issued their standard on the cash basis of accounting and the ASB (UK) issued its draft interpretation for public benefit entities (not-for-profit organisations) earlier this year. In each case the private sector model of accounts was followed closely.
Public Money & Management, 2009
The importance of accounting in the modern economy is obvious. That is more elevated bodies of th... more The importance of accounting in the modern economy is obvious. That is more elevated bodies of the European Union and elsewhere dealing with the organization and functioning of accounting as a fundamental component of business . The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by initiating and encouraging the professional standards of high quality, the convergence process these international standards and to discuss issues of public interest which is extremely relevant international experience of (IFAC, 2011). Currently, the concepts related to financial reports in public sector are developed by IPSAS references. Many of today's IPSAS are based on international accounting standards (IAS / IFRS), to the extent that they are relevant to the requirements of the public sector. Therefore today's IPSAS are based on concepts and definitions of the IASB's conceptual framework, with changes where necessary for public sector specific approach. Thus this study present this brief draft statement under discussion by the leadership of IFAC in collaboration with other organizations and groups that develop financial reporting requirements of the public sector. Then, we highlight the importance and the degree of acceptance of the project which results from comments received. On the basis of combining qualitative with quantitative research seeks to demonstrate the necessity and usefulness of a common conceptual framework of the International Accounting Standards (in this case the Public Sector), starting from their emergence from presenting their bodies involved in the foundation, the content standards, experience of different countries. The results have direct implications on Romanian public accounting system, given that the reference of the international implementation and reporting is an actual goal.
Financial Accountability & Management, 2008
Different political, economic and cultural traditions give rise to great diversity between public... more Different political, economic and cultural traditions give rise to great diversity between public sector accounting systems in different countries. The paper presents a literature review of the accounting principles and financial reporting in Europe, the financial statements and the relationship between financial and budgetary accounting. The IPSAS perhaps provide an opportunity for European accounting, and in future, national governments should attempt their accounting systems to the IPSAS. The paper contributes to the development of some points of view regarding the adoption of the IPSAS by the European countries accounting systems and the harmonization of the European public accounting systems.
Public Budgeting & Finance, 2005
Traditionally, governments used to deploy input-based budgeting systems and cash-based accounting... more Traditionally, governments used to deploy input-based budgeting systems and cash-based accounting systems. However, these systems do not provide the information that is necessary for a government to operate efficiently and effectively. Therefore, a growing number of countries have already shifted or are planning to shift from cash-based to some form of accrual accounting in the public sector. Usually, the implementation of some accrual-based system is linked to wider financial management reforms including performance management requiring information on cost. This paper focuses on the Dutch experience with the shift from cash-based accounting and budgeting systems to an accrual-based system.
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Papers by Faniran Ayodele