Public Accounting Analysis under Budgeting and Controlling Process: The Greek Evidence

The paper aims at reporting the results from the application of modern analytical tools in public accounting systems within public sector budgeting and controlling process. The accounting data used in the research were found in the Greek public budget statements for the period from 1958 to the beginning of the debt crisis in 2008. Elements of public revenue, public expenditure and financing methods were all examined by using appropriate financial techniques. Moreover, through the analysis presented in the paper, an attempt is made to transform past public budget statements to cash flow statements in order to make them comparable with the current requirements of the accrual-based accounting system under IPSAS. Finally, the paper presents the evolution of public budget financial elements and the results from the correlation among these elements could be used as controlling tools in the public sector.