Accounting Issues in Higher Education Institutions with Financial Autonomy. Dissertation abstract for the degree of doctor in economies

Abstract

In today’s reality, defined by the speed of information and the complexity of global challenges, human capital represents the most valuable resource. For the Republic of Moldova, currently undergoing transformation and alignment with European standards, higher education is a fundamental pillar of sustainable development and European integration. Public higher education institutions in the Republic of Moldova are undergoing a complex process of structural, normative, and financial reform, aimed at aligning with the standards of the European Education Area. This process requires the modernization of the regulatory framework and financing mechanisms, with the main objective of consolidating the quality of education. The transition to financial autonomy has redefined not only the accounting system but also the mechanisms of organization, administration, and financial reporting of university resources. This reform has marked the transition from cash-based accounting, specific to public entities, to the NAS, specific to the private sector. From the accounting perspective, the reform generated expectations of significant opportunities to improve financial transparency and strengthen managerial accountability in managing financial resources, but it also revealed shortcomings and deficiencies – both in terms of the significance and organization of accounting processes, the experience of applying NAS, and the human resources involved. These deficiencies have affected and continue to affect the capacity of higher education institutions to efficiently implement accounting practices and ensure the quality of financial information. The expectations of this accounting reform were to modernize financial reporting practices in higher education. During implementation, it was found that the accounting system based on NAS reflects the situation of public higher education institutions in a way that is less suitable.