Evolving Perspectives on Public Sector Accounting Practices

Purpose: This study explores the recent transformations in public sector accounting influenced by globalization, technological advancements, and changing stakeholder expectations. It specifically investigates the shift towards accrual accounting principles, the integration of performance measurement frameworks, and the role of technology in governmental financial management. Research Design and Methodology: The study employs a comprehensive systematic literature review methodology to amalgamate existing research. This rigorous approach facilitates the analysis of the adoption of new accounting methods, the challenges encountered, and the opportunities that have emerged in the public sector accounting landscape. Findings and Discussion: The findings reveal a global trend toward adopting accrual accounting, emphasizing its importance in improving transparency and accountability in financial management. However, the study also identifies significant challenges, such as the complexity of implementing new systems and adhering to international standards. Additionally, it discusses the advantages of performance measurement frameworks and the impact of technological innovations on accounting practices. Implications: The study's practical insights are particularly relevant for policymakers, public administrators, and financial professionals, fostering a deeper comprehension of the evolving dynamics in public sector accounting. It underscores the necessity for effective adaptation strategies to surmount challenges and seize new opportunities in the field.