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Journal of Social, Management and Tourism Letter
JSMTL 2022, 9 pages - Article ID: JSMTL-2208242112807
Conceptual Examination Of The Need To Prepare Consolidated Financial Statements In The Public Sector
a Faculty Of Human Science, Islamic Azad University, Ghaemshah, Iran
ABSTRACT
In recent years, the public sector has undergone various changes; the changes have significantly affected the progress of the accounting and reporting system in the public sector. The research shows that the most critical point arising from these changes is the need to prepare statements finance is consolidated in the public sector. The most challenging topics are in international research, and always between international legislative institutions and governments have been disputed. However, the present study examines the need to prepare consolidated financial statements in the public sector and create an appropriate context for legislative institutions to publish proper standards regarding this issue. As a result, to achieve this goal, the present study will review the scientific literature and the steps taken by the legislative bodies regarding the publication of international standards related to consolidated financial statements. The study emphasized the importance of presenting consolidated financial statements by the public sector, explaining the relationship between the consolidated financial statements prepared by the general department and the department’s private pay. The main result of the current conceptual study is the sector’s institutions. The general public should prepare consolidated financial statements; in this way, governments and legislative institutions play a fundamental role in introducing and developing this category of financial reports.