The funding policy for defined benefit pension plans covering government employees represents an important decision for government entities sponsoring those plans. In recent years, a number of state and local governments have experienced extreme funding shortfalls (e.g., New Jersey, Illinois,...

International Public Sector Accounting Standard (IPSAS) 23: Revenue from Non-exchange Transactions (Taxes and Transfers) is an accounting standard used to account for taxes and transfers. They are applicable to public sector entities [except for Government Business Enterprises (GBEs)]. The...

This paper examines the suitability of different accounting bases in providing useful information to support privatization decisions of state-owned property. More specifically, a comparison is conducted between the recently adopted Greek Governmental Accounting Standards (GGAS) that follow a...

The article deals with the actual problems of implementation of the national provision (standard) of accounting in the public sector 136 “Biological Assets”. The essence of the concept of “biological assets” in various scientific and literary sources was investigated. Different...

Financial reporting is the cornerstone of financial management. In 1999, the Governmental Accounting Standards Board (GASB) ratified unanimously GASB Statement No. 34. In this paper, using the Georgia Comprehensive Annual Financial Report (CAFR) and interviews with practitioners, we examine the...