№ 5/2021

Fìnansi Ukr. 2021 (5): 47–57https://doi.org/10.33763/finukr2021.05.047

ACCOUNTING AND AUDIT

LOVINSKA Ljudmyla ¹, KORYTNYK Liliya ²

¹Kyiv National Economic University named after Vadym Hetman
OrcID ID : https://orcid.org/0000-0001-5427-7185
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-7241-9324

Accounting support of the transparency of budget process

In terms of implementing the declared principles of openness, transparency and accessibility of the budget process, the importance of reliable and relevant information is updated and the role of the source of such information is strengthened. The study has found that the international concept of accounting for open and transparent information on public finances is not implemented in the legal and accounting system of the domestic budget process in the context of the introduction of relevant IPSAS national public sector accounting regulations (standards). It is proved that reliability and objectivity of published data and indicators are ensured by the management accounting system, which produces the full range of financial and non-financial information to maintain openness and transparency of budgets and public access to public information. It is established that the users of information generated in the system of management accounting of public sector entities in terms of budget management are not only internal (as defined by law), but also external , and the scope of its information flows goes beyond internal accounting. This has necessitated the introduction of proposals to modernize the legal interpretation of management accounting in the context of expanding the range of participants and its scope. The obtained results allowed us to conclude that the introduction of management accounting in the accounting system of the public sector is a necessary condition for the transparency of the budget process.

Keywords:openness, budget funds, accessibility, transparency, management accounting

JEL: Н52, Н83, М41, М48

Lovinska L. . Accounting support of the transparency of budget process / L. . Lovinska, L. Korytnyk // Фінанси України. - 2021. - № 5. - C. 47-57.

Article original in Ukrainian (pp. 47 - 57)

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