Public Sector Accounting Reforms and Developments in Uzbekistan

Abstract

Separation of public and private sector accounting systems is an ongoing process in many transition economies, who are adopting market principles and developing economy-wide public-private relations. Distinguishing procedures and principles in private sector accounting creates an extra effort to standardize the public sector accounting principles within international practices and requires ensuring the easiness with clear-cut cases at an optimal level. This article highlights the public sector accounting reform and adoption processes in Uzbekistan and examines measures of adopting the principles of International Public Sector Accounting Standards (IPSAS).

Keywords: IPSAS, public sector, accounting reform, Uzbekistan.