ФІНАНСОВА ЗВІТНІСТЬ В КОНТЕКСТІ МОДЕРНІЗАЦІЇ БУХГАЛТЕРСЬКОГО ОБЛІКУ В ДЕРЖАВНОМУ СЕКТОРІ

Abstract

Ukraine’s aspirations to the European community and long-term cooperation with international financial funds, foreign government agencies contributed to the beginning of the entire accounting system of the public sector. The process of transformation of the public sector accounting system has been complex and ambiguous. The efforts of reformers: government, academics, accountants-practitioners are aimed at adapting to international accounting standards. Accounting reform in the public sector continues today. The implementation of international accounting standards should result in harmonized financial reporting of budgetary institutions, prepared in accordance with current standards. The main requirements for quality reporting of budgetary institutions: the information context of reporting forms, effective use in economic analysis and inspections, as well as the provision of information for management decisions. The purpose of the article is to reveal the practical importance of modernized financial statements for its users and to identify areas for effective use of financial statements for timely management decisions in the budgetary institution. The methodological and informational basis of the work is scientific works, materials of periodicals, Internet resources. Scientific methods of analysis, synthesis, comparison and generalization were used in the study. The article examines the results and implementation of national accounting standards in the public sector, which are relevant to the formation of financial statements: International Public Sector Accounting Standards 101, 124, 135. The results of the study formulated differences that arise during the formation of financial and budgetary reporting, which as a result of compilation must be agreed in the institution. The shortcomings of methodological nature that cause differences in the interpretation of the articles of the financial statements and the current chart of accounts are analyzed. The article summarizes the results of a study on the theoretical and methodological foundations of modernization of accounting in the public sector. As a result of the research, the practical importance of forming financial statements according to the current accounting standards for budgetary institutions was revealed. Modernized financial reporting allows budgetary institutions to improve the quality of information for external and internal users, to be full participants in the processes in the international economic space. The article analyzes the problematic issues of modernized reporting of budgetary institutions, the main of which is the difficulty in agreeing between financial statements according to current standards and budget reporting of the public sector. It is proposed, as a supplement to the reporting of budgetary institutions, the gradual introduction of non-financial reporting on current indicators in the world: environmental and social. Proposed as a direction for further research, the use of management reporting. It is recommended to develop and implement management reporting, especially in the field of public finance, which requires constant analysis of financial indicators and operational management decisions at various levels of budgetary institutions.