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Analyzing the Current State of Legal and Regulatory Support for Accounting in the Public Sector
Kashperska A. I.

Kashperska, Anastasiia I. (2025) “Analyzing the Current State of Legal and Regulatory Support for Accounting in the Public Sector.” Business Inform 11:736–736.
https://doi.org/10.32983/2222-4459-2025-11-736-736

Section: Accounting and Auditing

Article is written in Ukrainian
Downloads/views: 0

UDC 657.6

Abstract:
The aim of the article is to summarize and analyze the existing legal framework for accounting in budgetary institutions. The article examines the current state of legal and regulatory support for accounting and financial reporting of public sector entities. The author considers the main legislative acts that form the basis for accounting and financial reporting by budgetary institutions and organizations. The main measures provided in the Strategy for Modernizing the Accounting and Financial Reporting System in the Public Sector are analyzed. Based on the assessment of public sector accounting (PULSE) conducted by the World Bank under the PULSAR program, a comparison of international and national public sector accounting standards was carried out, highlighting common features and identifying differences. The changes introduced by the Ministry of Finance of Ukraine in 2025 have been analyzed, as well as the draft amendments to existing regulatory legal documents, namely: the Chart of Accounts for Accounting in the Public Sector, the Procedure for Applying the Chart of Accounts for Accounting in the Public Sector, and the Typical Correspondence of Subaccounts for Accounting to reflect transactions with assets, capital, and liabilities of budget fund managers and State target funds. The main ideas and innovations highlighted in the updated regulatory documents have been identified, namely: the names and contents of certain subaccounts have been clarified, a new subaccount has been added, the possibility of introducing analytical accounts has been provided; explanations, clarifications, and additions to some terms have been given, among other things. The draft order of the Ministry of Finance of Ukraine «On Approval of Amendments to the Standard Form of Financial Reporting No. 5-ds «Notes to the Annual Financial Statements» has been analyzed, highlighting the main directions of the changes. It is emphasized that there is a general trend toward reforming the regulatory framework for accounting in public sector entities, taking into account the need to harmonize domestic legislation with European requirements while considering the current political and economic situation in Ukraine.

Keywords: budgetary institutions, public sector, accounting modernization, accounting standards, accounting and reporting in budgetary institutions, regulatory support.

Fig.: 5. Tabl.: 1. Bibl.: 13.

Kashperska Anastasiia I. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Accounting, Audit and Taxation, State Biotechnological University (44 Alchevskykh Str., Kharkiv, 61002, Ukraine)
Email: [email protected]

List of references in article

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