Prospects for forming a new paradigm for the development of the accounting system in the public sector

Анотація

Introduction. One of the key functional objectives of public sector management is to ensure the effective use of national financial resources while simultaneously expanding the range of services provided and improving their quality characteristics in line with the activities of public sector institutions. The achievement of high performance in this sector is hindered by the current military and political realities affecting economic development in Ukraine, as well as by the sharp reduction in budgetary funding. Problem Statement. In analyzing the activities of domestic public sector entities from this perspective, the importance of information becomes increasingly relevant. The volume and structure of this information are determined by the needs and demands of managers at various levels, which is crucial for providing informational support to managerial decision-making. The purpose is to substantiate the conceptual organizational and practical principles of generating targeted information upon request by various user groups, in the context of strengthening the functional linkage between public finance management and the accounting and financial reporting system in the public sector. Methods. The study employs the following approaches: the systems approach to develop a concept of targeted accounting and analytical information in response to user requests; the structural-functional approach to analyze the informational environment of public sector activities; and abstract logic to distinguish the stages of accounting and analytical support in the management process. Results. The impact of modern economic realities on the institutions of the public sector of Ukraine with clearly defined functions in the domestic budget system was clarified, especially in terms of transformational changes in approaches to building an effective system of accounting and financial reporting, with the actualization of the importance of targeted information at the request of users and outlining the prospects for the formation of a new paradigm for the development of the accounting system in the public sector. Conclusions. Users’ needs for a wide range of reliable information, which is essential for substantiating managerial decisions, is a dynamic variable. Moreover, the emergence of practical issues that necessitate changes in the accounting system often precedes in time actually conducted scientific research the outcome of which can serve either to validate the feasibility of proposed changes or to reject them when they are insufficiently justified. This underscores the critical importance of scientific research across a wide range of practical accounting issues.

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