Financial Accounting Reform in Flemish Universities: An Empirical Study of the Implementation |
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Authors: | Johan Christiaens and Els De Wielemaker |
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Affiliation: | Ghent University, Belgium;  |
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Abstract: | 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. |
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Keywords: | Governmental reform Flemish university university accounting reform university accounting practice |
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