International Public Sector Accounting Standards In The Context Of Decision-Usefulness Theory

As a result of the reform age in the public and public accounting systems since the 1990s, the process of expressing the new public financial management paradigm has led to various modernization efforts, especially related to public sector accounting practices. The mentioned process has a great importance for all users of information, especially those who decide, vote and pay tax at the national and international level, the quality of financial information provided by public institutions. The main aim of this study is to explain the process of preparation of accounting standards in public sector by taking the preparation and adaptation process of international accounting standards in public sector in the context of decision-usefulness theory. Thus, the effects of accrual-based accounting practices on transparency and accountability in public sector, which provide a more comparable presentation of financial information produced in the public sector, are discussed.