JOURNAL BROWSE
Search
Advanced SearchSearch Tips
A Study on Introduction of the Budgetary Accounting System for Not-for-profit Organizations related to Maritime and Fisheries Sector in Korea
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
A Study on Introduction of the Budgetary Accounting System for Not-for-profit Organizations related to Maritime and Fisheries Sector in Korea
Pai, Hoo-Seok;
  PDF(new window)
 Abstract
This paper aims to introduce budgetary accounting system for not-for-profit organizations related to maritime and fishery in Korea Especially, these not-for-profit organizations related to maritime and fishery should design and maintain the original accounting systems because they have some objectives and activities of organizations different to for-profit organizations. Currently, while the accounting for not-for-profit units is difficult to understand, this case study of budgetary accounting system for not-for-profit organizations related to maritime and fishery as KSSIT may be great help to them by reflecting all administrative activities of these units and offering objectively and fairly financial position and phase or operating results. This paper concentrate primarily upon this subject about double-entry accounting system to be introduced in order to improve budgetary systems of not-for-profit organizations. These units are governmental organizations as public corporations and bodies corporate and politic. Therefore, not-for-profit organizations related to maritime and fishery should be applied to regulations of the Governmental Accounting Standards Board. GASB has the authority to establish standards of financial reporting for all units of government. With conclusion, this paper reviewed a case of double-entry system for budgetary accounting, and examined a process of financial reporting in not-for-profit organizations. Through this paper, the comprehensive understanding of budgetary accounting system for not-for-profit organizations as KSSIT would be promoted.
 Keywords
Not-for-Profit Organization;KSSIT;KR;Budgetary Accounting System;General Fund;Modified Accrual Basis;
 Language
English
 Cited by
1.
A Case Study on the Performance Evaluation of a Not-for-Profit Organization by the Balanced Scorecard Perspectives: Focused on the Korea Shipping Association,;;

한국항해항만학회지, 2011. vol.35. 2, pp.179-185 crossref(new window)
 References
1.
Birmingham City Council (1997-98), Financial Review

2.
CIPFA (1999), The Code of Practice on Local Authority Accounting in Great Britain

3.
Freeman, R., C. Shoulders, and E. Lynn (1988), Governmental & Nonprofit Accounting: Theory and Practice, 3rd. ed., Prentice-Hall, 1988

4.
GASB (1999), Statement No. 34 of the Governmental Accounting Standard Board

5.
Institute of Charted Accountants of New Zealand (1999), New Zealand Accounting Standards

6.
Klaus, L. (1992), 'A Contingency Model of Governmental Accounting Innovations in the Political Administrative Environment,' Research in Governmental and Nonprofit Accounting, Vol.7.

7.
Tanzi, V. (2000), 'The Role of the IMF in Promoting Fiscal Transparency,' The Korea/OECD Forum on Public Sector Reform