EUFIN 2012 - Vysoká škola ekonomická v Praze

in an attempt to furnish a solution to this issue, the scope of the relevantstandard still features major exclusions which will gradually have to beeliminated.Administrative concessions and grants are other as yet unresolved issues, againperhaps because of the major differences with regard to the private sector.Much ground has been covered; however, to be modern and effective, publicsector accounting has still to grapple with three important challenges:standardisation and accounting convergence; consolidation of financialstatements; and management indicators and additional information fordisclosure. We are certain that these topics will be analysed in depth in the yearsto come and we trust that a consensus will be reached on the appropriateaccounting treatment.40 8 th Workshop on European Financial Reporting, Prague September 6 – 7, 2012