Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration

<div class="page" title="Page 1"><div class="section"><div class="layoutArea"><div class="column"><p><span>Public administration reform aims at the transformation of public institutions in business entities in whic...

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Main Authors: Adela DEACONU, Cristina Silvia NISTOR
Format: Article
Language:English
Published: Babes-Bolyai University, Cluj-Napoca 2014-11-01
Series:Transylvanian Review of Administrative Sciences
Subjects:
Online Access:https://rtsa.ro/tras/index.php/tras/article/view/5
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author Adela DEACONU
Cristina Silvia NISTOR
author_facet Adela DEACONU
Cristina Silvia NISTOR
author_sort Adela DEACONU
collection DOAJ
description <div class="page" title="Page 1"><div class="section"><div class="layoutArea"><div class="column"><p><span>Public administration reform aims at the transformation of public institutions in business entities in which the principles that govern them are very close to the ones from the sphere of pri- vate entities. Public valuation is an accepted and implemented concept in public administration as a condition for ensuring complete, accurate and transparent images of available resources and their use. The present research determines through an empirical approach the regulation convergence of valuation in the public sector and presents its determinant factors and effects. The referentials subject to comparative analysis are International Valuation Standards (IVS), the last two editions, and International Public Sector Ac- counting Standards (IPSAS).</span></p><p>The findings highlight the achievement of the objective of accounting and valuation stan- dard setters, IPSASB and IVSC, with regard to the convergence of valuation concepts and tools, in its last edition from 2011; however, the findings indicate certain differences regarding the guidance extent and the reference to mar- kets and atypical cases triggered by the global economic crisis. Our research has further found that the public accounting referential is closer to IVS 2011 than to IVS 2007 in what concerns disclosure requirements. This is in favor of the requirements imposed by the current economic environment regarding financial reporting, name- ly to provide more detail on the process of value estimation, the hypotheses and predictions used in this respect, and the risk of change of the es- timated value. </p></div></div></div></div>
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spelling doaj.art-d67be30e88cb4b1c82a8f4507f16a7202024-03-14T07:28:39ZengBabes-Bolyai University, Cluj-NapocaTransylvanian Review of Administrative Sciences1842-28452014-11-0110438510219Valuation in the Public Sector. Reference Factor in a Credible and Fair AdministrationAdela DEACONU0Cristina Silvia NISTOR1Associate Professor, Department of Accounting and Audit, Faculty of Economics and Business Administration, Babeș- Bolyai University, Cluj-Napoca, RomaniaAssociate Professor, Department of Accounting and Audit, Faculty of Economics and Business Administration, Babeș- Bolyai University, Cluj-Napoca, Romania<div class="page" title="Page 1"><div class="section"><div class="layoutArea"><div class="column"><p><span>Public administration reform aims at the transformation of public institutions in business entities in which the principles that govern them are very close to the ones from the sphere of pri- vate entities. Public valuation is an accepted and implemented concept in public administration as a condition for ensuring complete, accurate and transparent images of available resources and their use. The present research determines through an empirical approach the regulation convergence of valuation in the public sector and presents its determinant factors and effects. The referentials subject to comparative analysis are International Valuation Standards (IVS), the last two editions, and International Public Sector Ac- counting Standards (IPSAS).</span></p><p>The findings highlight the achievement of the objective of accounting and valuation stan- dard setters, IPSASB and IVSC, with regard to the convergence of valuation concepts and tools, in its last edition from 2011; however, the findings indicate certain differences regarding the guidance extent and the reference to mar- kets and atypical cases triggered by the global economic crisis. Our research has further found that the public accounting referential is closer to IVS 2011 than to IVS 2007 in what concerns disclosure requirements. This is in favor of the requirements imposed by the current economic environment regarding financial reporting, name- ly to provide more detail on the process of value estimation, the hypotheses and predictions used in this respect, and the risk of change of the es- timated value. </p></div></div></div></div>https://rtsa.ro/tras/index.php/tras/article/view/5public sector, effective governance, assets, liabilities, value, ivs, ipsas, convergence
spellingShingle Adela DEACONU
Cristina Silvia NISTOR
Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
Transylvanian Review of Administrative Sciences
public sector, effective governance, assets, liabilities, value, ivs, ipsas, convergence
title Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
title_full Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
title_fullStr Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
title_full_unstemmed Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
title_short Valuation in the Public Sector. Reference Factor in a Credible and Fair Administration
title_sort valuation in the public sector reference factor in a credible and fair administration
topic public sector, effective governance, assets, liabilities, value, ivs, ipsas, convergence
url https://rtsa.ro/tras/index.php/tras/article/view/5
work_keys_str_mv AT adeladeaconu valuationinthepublicsectorreferencefactorinacredibleandfairadministration
AT cristinasilvianistor valuationinthepublicsectorreferencefactorinacredibleandfairadministration