Accrual Accounting Change in Greek Public Sector : a Reformation for Modernizing and Harmonizing Public Sector Accounting
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Goumas Spyridon, Pavlos Karastogiannis
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In Greece, with Presidential Decree 54/2018 was legislated the introduction and application of the accrual accounting basis for all entities of the General Government from 1/1/2025 as thus there will be objective information of the financial position and performance of each entity and financial statements will be homogeneous. Employees of the General Government need to be trained in the new accounting framework either through seminars or university programs an addition and it is necessary to hire employees with knowledge of accrual accounting. Successful implementation requires cooperation among employees, a change in employee mentality and culture and an appropriate information system that will provide immediate and reliable accounting information.
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Authors
Goumas Spyridon, Pavlos Karastogiannis
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References:
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