Acta Universitatis Danubius. Œconomica, Vol 15, No 7 (2019)

Directions and Trends in Organizing the Accounting of Public Institutions

Silvia Bunea, Ecaterina Necsulescu


In recent years, the accounting of public sector entities has registered a number of changes at the internal and European level, following the process of globalization that is manifested through accounting harmonization. The most important benefits of accounting harmonization in the public sector consist in optimizing the comparability of financial information, as well as in increasing the public responsibility assumed by the administrations. At international level, the harmonization of accounting for the public sector is based on International Public Sector Accounting Standards (IPSAS), and at European level, it is intended to be achieved through the creation and development of European Public Sector Accounting Standards (EPSAS). In Romania, the accounting has been used with the appearance of the first human settlements and with the increase of the exchanges of goods. The bases of the organization of public accounting were laid down by the Organic Regulations of 1831 and 1832 and it has undergone a continuous development, depending on the changes of the political regime in our country. Thus, in order to adjust the Romanian accounting system to the new economic, political, legal and social situations, it has undergone an extensive and thorough reform process.


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