Public Accounting Research and Theories: A Literature Review
Abstract
The purpose of this study is to provide a structured overview of the literature on research on public accounting and the theories used by referring to articles published in four reputable international journals in 2009–2018. It is expected that this article can be a basis for future research and becomes a work request for more precise and focused research questions. A literature review-based approach with two important steps in the analysis of trends in public accounting research was used. First, journals as the source of the data are limited to four reputable international journals that published public sector research. Second, articles are divided into three areas that include financial accounting, management accounting, and auditing. A structured method was then used to analyze the relevant and identified articles. Results show that articles published in four leading international journals do not specifically discuss public accounting. So far, journals publishing public accounting remain rare. Of the four journals, articles in public reports are few. Ten popular theories on how to apply public accounting research were discussed.
Keywords: Public Accounting, Literature Review, Theory.
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References
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Bergevärn, L. E., Mellemvik, F., & Olson, O. (1995). Institutionalization of Municipal Accounting - A Comparative Study Between Sweden and Norway. Scandinavian Journal of Management, 11(1), 25–41. https://doi.org/10.1016/0956-5221(94)00024-C
Berle, Adolf A, J., & Means, G. C. (1932). The Modern Corporation and Private Property. Harcourt, Brace & World.
Bowman, W. (2002). The Uniqueness of Nonprofit Finance and the Decision to Borrow. Nonprofit Management and Leadership, 12(3), 293–311. https://doi.org/https://doi.org/10.1002/nml.12306
Charles, C. (2017). Nonprofit Arts Organizations : Debt Ratio Does Not Influence Donations — Interest Expense Ratio Does. American Review of Public Administration, 48(7), 659–667. https://doi.org/10.1177/0275074017724227
Cohen, S., & Karatzimas, S. (2018). The role of the Troika on the Greek central government accounting reforms: The reprioritization riddle. International Journal of Public Sector Management, 32(3), 316–330. https://doi.org/https://doi.org/10.1108/IJPSM-06-2016-0101
Copley, P. A., & Douthett, E. B. (2014). Are governmental accounting measures value relevant to the citizenry? Journal of Public Budgeting, Accounting & Financial Management, 26(4), 583–613. https://doi.org/10.1108/JPBAFM-26-04-2014-B003
Fama, E. F., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law & Economics, 26(2), 301–325. http://www.jstor.org/stable/725104
Friedman, M. (1953). The Case for Flexible Exchange Rates. In: Essays in Positive Economics (pp. 157–203). University of Chicago Press.
Friedman, M. (1966). The Methodology of Positive Economic. In: Essays in Positive Economics (pp. 30–43). University of Chicago Press.
Gardini, S. G. G. (2014). Voluntary Adoption of the Consolidate. Journal of Public Budgeting, Accounting & Financial Management, 26(2), 313–344. https://doi.org/https://doi.org/10.1108/JPBAFM-26-02-2014-B004
Gigli, S., & Mariani, L. (2018). Lost in The Transition From Cash To Accrual Accounting: Assessing The Knowledge Gaps In Italian Public Universities. International Journal of Public Sector Management, 31(7), 811–826. https://doi.org/10.1108/IJPSM-07-2017-0184
Gordon, G., & Fischer, M. (2014). Public University Presidential Compensation: Performance, Cost Efficiency And Spending Choices. Journal of Public Budgeting, Accounting & Financial Management, 26(4), 557–583. https://doi.org/https:// doi.org/10.1108/JPBAFM-26-04-2014-B002
Greiling, D., Traxler, A. A., & Stötzer, S. (2015). Sustainability Reporting in The Austrian, German And Swiss Public Sector. International Journal of Public Sector Management, 28(4/5), 404–428. https://doi.org/https://doi.org/10.1108/IJPSM-04-2015-0064
Guthrie, J., & Parker, L. D. (1989). Corporate Social Reporting: A Rebuttal of Legitimacy Theory. Accounting and Business Research, 19(76), 343–352. https://doi.org/10.1080/00014788.1989.9728863
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1177/0018726718812602
Kaplan, R.S., & Norton, D. P. (1992). Balanced Scorecard – Measures That Drive Performance. Harvard Business Review, 70(1), 71–90.
Kaplan, Robert S, & Johnson, H. T. (1987). Relevance Lost: The Rise and Fall of Management Accounting. Harvard Business School Press.
Kidwell, L., & Lowensohn, S. (2018). Stakeholder Participation In The Governmental Accounting Standard-Setting Process. 30(2), 252–268. https://doi.org/10.1108/JPBAFM-02-2018-0019
Lindblom, C. K. (1994). The Implications Of Organizational Legitimacy For Corporate Social Performance And Disclosure, Working Paper for the American Accounting Association Public Interest Section, USA. In Paper Presented at the Critical Perspectives on Accounting Conference.
Magnus, S. A., Smith, D., & Wheeler, J. R. C. (2003). Agency Implications of Debt in Not-for-profit Hospitals: A Conceptual Framework and Overview. Research in Healthcare Financial Management, 8(1), 7–17.
Marcuccio, M., & Steccolini, I. (2009). Patterns Of Voluntary Extended Performance Reporting In Italian Local Authorities. International Journal of Public Sector Management, 22(2), 146–167. https://doi.org/https://doi.org/10.1108/09513550910934547
Myers, S. C. (1977). Determinants of Corporate Borrowing. Journal of Financial Economics, 5, 147–175. https://doi.org/https://doi.org/10.1016/0304-405X(77)90015-0
Neu, D. (1991a). New Stock Issues And The Institutional Production Of Trust. Accounting, Organizations and Society, 16(2), 185–200. https://doi.org/10.1016/0361-3682(91)90013-5
Neu, D. (1991b). Trust, Contracting And The Prospectus Process. Accounting, Organizations and Society, 16(3), 243–256. https://doi.org/10.1016/0361-3682(91)90003-W
Neu, D. (1991c). Trust, Impression Management and the Public Accounting Profession. Critical Perspectives on Accounting, 2(3), 295–313.
Northcott, D., & Taulapapa, T. M. (2012). Using The Balanced Scorecard To Manage Performance In Public Sector Organizations Issues And Challenges. International Journal of Public Sector Management, 25(3), 166–191. https://doi.org/10.1108/09513551211224234
Paulsson, G. (2006). Accrual Accounting in the Public Sector: Experiences from The Central Government in Sweden. Financial Accountability & Management, 22(1), 47–62. https://doi.org/DOI: 10.1111/j.0267-4424.2006.00392.x
Plummer, E., & Patton, T. K. (2015). Article information : Journal of Public Budgeting, Accounting & Financial Management, 27(2), 225–264. https://doi.org/https://doi.org/10.1108/JPBAFM-27-02-2015-B004
Prabowo, T. J. W., Leung, P., & Guthrie, J. (2017). Reforms in Public Sector Accounting and Budgeting in Indonesia (2003-2015): Confusions in Implementation. Journal of Public Budgeting, Accounting and Financial Management, 29(1), 104–137. https://doi.org/10.1108/jpbafm-29-01-2017-b005
Ríos, A. M., Bastida, F., & Benito, B. (2016). Budget Transparency and Legislative Budgetary Oversight: An International Approach. American Review of Public Administration, 46(5), 546–568. https://doi.org/10.1177/0275074014565020
Ritonga, I. T. (2020). Public Accounting and Business Accounting: Two Different Upstream. Journal of Accounting and Investment, 21(3), 401–416. https://doi.org/10.18196/jai.2103156
Roberts, R. W., & Kurtenbach, J. M. (1992). An Analysis of Lobbying Activities Before the Governmental Accounting Standards Board. Research in Governmental and Nonprofit Accounting, 7, 25–40.
Scott, W. R. (2004). Institutional Theory: Contributing to a Theoritical Research Program. Great Minds in Management: The Process of Theory Development. Oxford University Press.
Stalebrink, O. J. (2014). Public Pension Funds and Assumed Rates of Return: An Empirical Examination of Public Sector Defined Benefit Pension Plans. American Review of Public Administration, 44(1), 92–111. https://doi.org/10.1177/0275074012458826
Timoshenko, K., & Adhikari, P. (2010). A two-country comparison of public sector accounting reforms: Same ideas, different paths? Journal of Public Budgeting, Accounting & Financial Management, 22(4), 449–489. https://doi.org/https://doi.org/10.1108/JPBAFM-22-04-2010-B001
Tomkins, C. (2001). Interdependencies, Trust and Information in Relationships, Alliances and Networks. Accounting, Organizations and Society, 26(2), 161–191. https://doi.org/10.1016/S0361-3682(00)00018-0
Verbeeten, F. H. M. (2011). Public Sector Cost Management Practices in The Netherlands. International Journal of Public Sector Management, 24(6), 492–506. https://doi.org/10.1108/09513551111163620
Waluyo, B. (2018). Balancing Financial Autonomy and Control in Agencification: Issues Emerging from the Indonesian Higher Education. International Journal of Public Sector Management, 31(7), 794–810. https://doi.org/10.1108/IJPSM-10-2017-0272
Yetman, R. . (2007). Financing Nonprofits: Putting Theory Into Practice. Altamira Press.
Yinger, J. (1982). Capitalization and the Theory of Local Public Finance. Journal of Political Economy, 50(5), 917–943.
Zimmerman, J. L. (1977). Discussion of The Municipal Accounting Maze: An Analysis of Political Incentives. Journal of Accounting Research, 15(1977), 107–144. https://doi.org/10.2307/2490637
Baldvinsdottir, G., Hagberg, A., Johansson, I. L., Jonäll, K., & Marton, J. (2011). Accounting research and trust: A literature review. Qualitative Research in Accounting and Management, 8(4), 382–424. https://doi.org/10.1108/11766091111189891
Bergevärn, L. E., Mellemvik, F., & Olson, O. (1995). Institutionalization of Municipal Accounting - A Comparative Study Between Sweden and Norway. Scandinavian Journal of Management, 11(1), 25–41. https://doi.org/10.1016/0956-5221(94)00024-C
Berle, Adolf A, J., & Means, G. C. (1932). The Modern Corporation and Private Property. Harcourt, Brace & World.
Bowman, W. (2002). The Uniqueness of Nonprofit Finance and the Decision to Borrow. Nonprofit Management and Leadership, 12(3), 293–311. https://doi.org/https://doi.org/10.1002/nml.12306
Charles, C. (2017). Nonprofit Arts Organizations : Debt Ratio Does Not Influence Donations — Interest Expense Ratio Does. American Review of Public Administration, 48(7), 659–667. https://doi.org/10.1177/0275074017724227
Cohen, S., & Karatzimas, S. (2018). The role of the Troika on the Greek central government accounting reforms: The reprioritization riddle. International Journal of Public Sector Management, 32(3), 316–330. https://doi.org/https://doi.org/10.1108/IJPSM-06-2016-0101
Copley, P. A., & Douthett, E. B. (2014). Are governmental accounting measures value relevant to the citizenry? Journal of Public Budgeting, Accounting & Financial Management, 26(4), 583–613. https://doi.org/10.1108/JPBAFM-26-04-2014-B003
Fama, E. F., & Jensen, M. C. (1983). Separation of Ownership and Control. The Journal of Law & Economics, 26(2), 301–325. http://www.jstor.org/stable/725104
Friedman, M. (1953). The Case for Flexible Exchange Rates. In: Essays in Positive Economics (pp. 157–203). University of Chicago Press.
Friedman, M. (1966). The Methodology of Positive Economic. In: Essays in Positive Economics (pp. 30–43). University of Chicago Press.
Gardini, S. G. G. (2014). Voluntary Adoption of the Consolidate. Journal of Public Budgeting, Accounting & Financial Management, 26(2), 313–344. https://doi.org/https://doi.org/10.1108/JPBAFM-26-02-2014-B004
Gigli, S., & Mariani, L. (2018). Lost in The Transition From Cash To Accrual Accounting: Assessing The Knowledge Gaps In Italian Public Universities. International Journal of Public Sector Management, 31(7), 811–826. https://doi.org/10.1108/IJPSM-07-2017-0184
Gordon, G., & Fischer, M. (2014). Public University Presidential Compensation: Performance, Cost Efficiency And Spending Choices. Journal of Public Budgeting, Accounting & Financial Management, 26(4), 557–583. https://doi.org/https:// doi.org/10.1108/JPBAFM-26-04-2014-B002
Greiling, D., Traxler, A. A., & Stötzer, S. (2015). Sustainability Reporting in The Austrian, German And Swiss Public Sector. International Journal of Public Sector Management, 28(4/5), 404–428. https://doi.org/https://doi.org/10.1108/IJPSM-04-2015-0064
Guthrie, J., & Parker, L. D. (1989). Corporate Social Reporting: A Rebuttal of Legitimacy Theory. Accounting and Business Research, 19(76), 343–352. https://doi.org/10.1080/00014788.1989.9728863
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behavior, Agency Costs, and Ownership Structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1177/0018726718812602
Kaplan, R.S., & Norton, D. P. (1992). Balanced Scorecard – Measures That Drive Performance. Harvard Business Review, 70(1), 71–90.
Kaplan, Robert S, & Johnson, H. T. (1987). Relevance Lost: The Rise and Fall of Management Accounting. Harvard Business School Press.
Kidwell, L., & Lowensohn, S. (2018). Stakeholder Participation In The Governmental Accounting Standard-Setting Process. 30(2), 252–268. https://doi.org/10.1108/JPBAFM-02-2018-0019
Lindblom, C. K. (1994). The Implications Of Organizational Legitimacy For Corporate Social Performance And Disclosure, Working Paper for the American Accounting Association Public Interest Section, USA. In Paper Presented at the Critical Perspectives on Accounting Conference.
Magnus, S. A., Smith, D., & Wheeler, J. R. C. (2003). Agency Implications of Debt in Not-for-profit Hospitals: A Conceptual Framework and Overview. Research in Healthcare Financial Management, 8(1), 7–17.
Marcuccio, M., & Steccolini, I. (2009). Patterns Of Voluntary Extended Performance Reporting In Italian Local Authorities. International Journal of Public Sector Management, 22(2), 146–167. https://doi.org/https://doi.org/10.1108/09513550910934547
Myers, S. C. (1977). Determinants of Corporate Borrowing. Journal of Financial Economics, 5, 147–175. https://doi.org/https://doi.org/10.1016/0304-405X(77)90015-0
Neu, D. (1991a). New Stock Issues And The Institutional Production Of Trust. Accounting, Organizations and Society, 16(2), 185–200. https://doi.org/10.1016/0361-3682(91)90013-5
Neu, D. (1991b). Trust, Contracting And The Prospectus Process. Accounting, Organizations and Society, 16(3), 243–256. https://doi.org/10.1016/0361-3682(91)90003-W
Neu, D. (1991c). Trust, Impression Management and the Public Accounting Profession. Critical Perspectives on Accounting, 2(3), 295–313.
Northcott, D., & Taulapapa, T. M. (2012). Using The Balanced Scorecard To Manage Performance In Public Sector Organizations Issues And Challenges. International Journal of Public Sector Management, 25(3), 166–191. https://doi.org/10.1108/09513551211224234
Paulsson, G. (2006). Accrual Accounting in the Public Sector: Experiences from The Central Government in Sweden. Financial Accountability & Management, 22(1), 47–62. https://doi.org/DOI: 10.1111/j.0267-4424.2006.00392.x
Plummer, E., & Patton, T. K. (2015). Article information : Journal of Public Budgeting, Accounting & Financial Management, 27(2), 225–264. https://doi.org/https://doi.org/10.1108/JPBAFM-27-02-2015-B004
Prabowo, T. J. W., Leung, P., & Guthrie, J. (2017). Reforms in Public Sector Accounting and Budgeting in Indonesia (2003-2015): Confusions in Implementation. Journal of Public Budgeting, Accounting and Financial Management, 29(1), 104–137. https://doi.org/10.1108/jpbafm-29-01-2017-b005
Ríos, A. M., Bastida, F., & Benito, B. (2016). Budget Transparency and Legislative Budgetary Oversight: An International Approach. American Review of Public Administration, 46(5), 546–568. https://doi.org/10.1177/0275074014565020
Ritonga, I. T. (2020). Public Accounting and Business Accounting: Two Different Upstream. Journal of Accounting and Investment, 21(3), 401–416. https://doi.org/10.18196/jai.2103156
Roberts, R. W., & Kurtenbach, J. M. (1992). An Analysis of Lobbying Activities Before the Governmental Accounting Standards Board. Research in Governmental and Nonprofit Accounting, 7, 25–40.
Scott, W. R. (2004). Institutional Theory: Contributing to a Theoritical Research Program. Great Minds in Management: The Process of Theory Development. Oxford University Press.
Stalebrink, O. J. (2014). Public Pension Funds and Assumed Rates of Return: An Empirical Examination of Public Sector Defined Benefit Pension Plans. American Review of Public Administration, 44(1), 92–111. https://doi.org/10.1177/0275074012458826
Timoshenko, K., & Adhikari, P. (2010). A two-country comparison of public sector accounting reforms: Same ideas, different paths? Journal of Public Budgeting, Accounting & Financial Management, 22(4), 449–489. https://doi.org/https://doi.org/10.1108/JPBAFM-22-04-2010-B001
Tomkins, C. (2001). Interdependencies, Trust and Information in Relationships, Alliances and Networks. Accounting, Organizations and Society, 26(2), 161–191. https://doi.org/10.1016/S0361-3682(00)00018-0
Verbeeten, F. H. M. (2011). Public Sector Cost Management Practices in The Netherlands. International Journal of Public Sector Management, 24(6), 492–506. https://doi.org/10.1108/09513551111163620
Waluyo, B. (2018). Balancing Financial Autonomy and Control in Agencification: Issues Emerging from the Indonesian Higher Education. International Journal of Public Sector Management, 31(7), 794–810. https://doi.org/10.1108/IJPSM-10-2017-0272
Yetman, R. . (2007). Financing Nonprofits: Putting Theory Into Practice. Altamira Press.
Yinger, J. (1982). Capitalization and the Theory of Local Public Finance. Journal of Political Economy, 50(5), 917–943.
Zimmerman, J. L. (1977). Discussion of The Municipal Accounting Maze: An Analysis of Political Incentives. Journal of Accounting Research, 15(1977), 107–144. https://doi.org/10.2307/2490637
Published
2020-06-26
How to Cite
ZAMZAMI, Faiz; MUKHLIS, Mukhlis.
Public Accounting Research and Theories: A Literature Review.
Jurnal Ilmiah Akuntansi dan Bisnis, [S.l.], v. 16, n. 1, p. 115-136, june 2020.
ISSN 2303-1018.
Available at: <https://ojs.unud.ac.id/index.php/jiab/article/view/57565>. Date accessed: 02 nov. 2024.
doi: https://doi.org/10.24843/JIAB.2021.v16.i01.p08.
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