INTEGRATED REPORTING - PERSPECTIVES IN PUBLIC HEALTH INSTITUTIONS IN SELF-FINANCING

Liudmila Frumusachi ()
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Liudmila Frumusachi: Academy of Economic Studies of Moldova, Chișinău, Moldova

European Journal of Accounting, Finance & Business, 2017, vol. 5, issue 14, 45-55

Abstract: There are currently continuous metamorphoses of the accounting system within the public sanitary institutions for self-financing by changing the emphasis from the control function to the communication function, creating new requests for interested parties' information, new accounting objects and evaluation methods of these ones, which has led to integrated reporting. Thus, in order to meet the needs of information users, a new reporting model is needed, which takes into account the relationship between environmental and social factors, the quality of management, reflecting the impact of long-term decisions on the sustainable development of entity and the economy as a whole. The need for complete information on external reporting of Public Health Care Institutions (PHCI), at least at this time, has led to the expansion of traditional financial reporting by including social and environmental aspects within the traditional reporting. This concept (integrated reporting) is a mix between the classical financial reporting and the concept of sustainability (also known as sustainable development). The integrated reporting highlights the relevant information to valuing value from a long-term perspective for decision-makers and encouraging the allocation of financial resources to support long-term value creation in the sense of societal expectations.

Date: 2017
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