International Accounting

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The use of international public sector accounting standards to prepare financial statements by universities for the subsequent application of benchmarking

Vol. 21, Iss. 11, NOVEMBER 2018

Received: 20 July 2018

Received in revised form: 25 July 2018

Accepted: 27 July 2018

Available online: 16 November 2018


JEL Classification: M41, M48

Pages: 1253–1266

Gorodilov M.A. Perm State National Research University (PSU), Perm, Russian Federation

Chertkova A.V. Perm State National Research University (PSU), Perm, Russian Federation

ORCID id: not available

Subject This article analyzes the reasons of application of International Public Sector Accounting Standards (IPSAS) to use the benchmarking technique by higher education institutions in Russia. Predominantly, the article explores the competitive benchmarking of financial performance.
Objectives The article aims to identify the need to use IPSAS in order to prepare financial statements by universities for the subsequent application of benchmarking.
Methods For the study, we used a comparative analysis.
Conclusions Benchmarking on the basis of public financial reporting, drawn up in accordance with IPSAS, provides an opportunity for higher education institutions in Russia to adopt the world universities' best practices to increase their own competitiveness. These possibility and opportunity arise as a result of the fact that the IPSAS-based compiled reporting can be compared with the identical performance figures of foreign universities.

Keywords: International Public Sector Accounting Standards, financial ratios, benchmarking


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