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Challenges and Solutions in Financial Reporting for Budget Organizations in Albania, Azerbaijan, Croatia, Georgia, Maced

This article discusses ongoing reforms, plans for improvement, and challenges faced in financial reporting for budget organizations in Albania, Azerbaijan, Croatia, Georgia, Macedonia, and Turkey. It also presents potential solutions to address these challenges.

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Challenges and Solutions in Financial Reporting for Budget Organizations in Albania, Azerbaijan, Croatia, Georgia, Maced

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  1. GROUP #1 Albania, Azerbaijan, Croatia, Georgia, Macedonia, Turkey Baku, Azerbaijan  April 12,2018

  2. Part 1: Express Survey This Photo by Unknown Author is licensed under CC BY-SA

  3. Q1.Budget Organizations Conduct Accounting and Financial Reporting in:

  4. Q2. Budget Organizations Submit Financial Reports:

  5. Q3. Submission of Financial Reports for Consolidation Occurs:

  6. Q4. Consolidation of Financial Reports of the Budget Organizations

  7. Part 2 - Discussion This Photo by Unknown Author is licensed under CC BY-SA

  8. Ongoing reforms / Plans for Improvement

  9. Challenges and Possible Solutions Georgia • Need for legal changes • Need to have a harmonized accounting methodology • Transition between fiscal years • Change management and trainings Albania • Transition to modified accrual basis of accounting, integration between cash basis used for budget preparation and execution and modified accrual based accounting • Extension of the Treasury System to widen the coverage • Need to integrate PPP • Integration between ATMIS & EAMIS • Portal where the spending units can have access to perform their functions • Change management and trainings Turkey • Public IFMIS to create effective integration • Full integration of the IT systems of the different line ministries • New central accounting IT systems • Political support for the reforms

  10. Challenges and Possible Solutions • Change management and trainings Croatia • MOF will be collecting reports directly • High cost and issues collecting financial reports • Change management and trainings Macedonia • Need to adapt to EU standards of accounting for budgetary and private organizations • Creating automated central reporting platform • Moving from cash based accounting to accrual based accounting Azerbaijan • To include all the budgetary organizations into TIMS • Change management and trainings • Expectations management

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