Abstract
AbstractThe Finnish government accounting has developed from its own premises which used to emphasise the importance of budgetary accounting and prudence. Since the 1990s and the impact of New Public Financial Management, the Finnish government financial accounting has been accruals based. However, the Finnish application of accruals is based on the income statement approach, realisation principle and prudence. The International Public Sector Accounting Standards (IPSAS) based more on the balance sheet approach and fair value accounting are not suitable for the Finnish government accounting culture and practice. Furthermore, this means from the Finnish perspective that the EPSAS standards should not be based on IPSAS but on a conceptual framework especially developed for the European context.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
