Application of the accounting information at higher education institutions in Slovenia and Croatia - preparation of public policy framework

Abstract

Application of accounting reports' information for managerial purposes has been commonly denoted as management accounting. The studies focused on management accounting at higher education institutions confirmed the lack of high quality information and revealed that existing management accounting practice is primarily centred on complying with legal requirements regarding external reporting. Therefore, the main objective of this paper is to analyse the financial reporting systems at higher education institutions in relation to management accounting at micro and in relation to public policy framework at macro level in Slovenia and Croatia. The results revealed that exiting reporting systems at higher education institutions in observed countries is partially useful for decision making processes and that there are significant differences in the main elements of management accounting practice. Research findings could provide solid groundwork for the preparation of public policies and operative instructions.