Premium
Financial Accounting Reform in Flemish Universities: An Empirical Study of the Implementation
Author(s) -
Christiaens Johan,
Wielemaker Els De
Publication year - 2003
Publication title -
financial accountability and management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.661
H-Index - 44
eISSN - 1468-0408
pISSN - 0267-4424
DOI - 10.1111/1468-0408.00169
Subject(s) - accounting , flemish , comparability , financial accounting , accrual , business , empirical examination , positive accounting , legislation , accounting information system , accounting standard , mark to market accounting , fund accounting , management accounting , finance , actuarial science , political science , earnings , mathematics , archaeology , combinatorics , law , history
This paper presents an overview of the current accounting reform towards accrual accounting in Flemish universities. The focus is on the concept of the reformed accounting legislation and on the empirical outcomes of implementation based on an examination of annual accounts. An important issue is the unsuccessful mixing up of the traditional budgetary accounting system with the new financial accounting system. The empirical examination reveals a lot of accounting problems in the area of the reformed regulations as well as in the accounting practices and that the comparability of the annual reporting is not guaranteed even after years of experience.