EVALUATION OF TANGIBLE ASSETS ACCOUNTING INFORMATION DISCLOSURE QUALITY IN THE PUBLIC SECTOR: THE CASE OF LITHUANIA

The disclosure of information in the private and public sectors is insufficient. The issue of accounting information disclosure quality is encountered. It is essential to evaluate the requirements which the accounting information has to meet in order to be viewed as qualitative. The question of accounting information disclosure quality in the Lithuanian public sector is also relevant, as since 2010, after the Accounting and Financial Reporting Reform in the Public Sector, the accounting system has been changed from the cash basis to the accrual basis. The Public Sector Accounting and Financial Reporting Standards have been introduced which are employed to improve the presentation quality of the financial statements of the public sector entities. Furthermore, the research of accounting information disclosure quality in the Lithuanian public sector is insufficient. The research object: accounting information disclosure quality of the non-current tangible assets (hereinafter referred to as tangible assets) in the financial statements of the public sector. The financial statements of the municipalities of Lithuania have been selected for the analysis of this research. The aim of the research: to examine and evaluate the accounting information disclosure quality of the tangible assets in the financial statements of the municipalities of Lithuania. In this research the concepts of accounting quality, disclosure quality have been analysed. After the analysis of the performed research, the theoretical evaluation model of accounting information disclosure quality has been designed. In accordance with the designed disclosure index, the disclosure quality in the financial statements of the tangible assets of the municipalities of Lithuania has been evaluated and compared.