SIMILARITY OR DISSIMILARITY BETWEEN PUBLIC AND PRIVATE SECTOR

Abstract

Consolidated financial statements represent one of the main benefits that the public sector reforms brought. The novelty of the subject sparked out interest for a detailed research, research that can bring an added value to the development of this issue in the public sector. The paper aims to analyze the degree of similarity and dissimilarity between the initial regulations regarding the issue of consolidated reporting in the public and private sector. In order to obtain information about the similarity or dissimilarity between IPSAS and IAS regarding to consolidation we used correlation and/or association coefficients. We conclude that there is a high similarity between the two sets of standards, thing that is not surprising, because it is known that IPSAS are based on IAS. Even if IPSAS are based on IAS, there still are differences which arouse from the specificity of each sector.

Keywords

• IPSAS
• IAS
• consolidated financial statements
• correlation and/or association coefficients