Accounting for retirement fund investments in accordance with international accounting standards for the public sector and its impact on financial performance
DOI:
https://doi.org/10.31150/ajebm.v5i2.856Keywords:
Pension fund, financial performance, International Public Sector Accounting StandardsAbstract
The research aims to study and analyze the conceptual aspects of retirement funds, and to address the financial performance of the retirement fund and the importance of diversifying the investments of the retirement fund assets and accounting for them based on the application of international accounting standards in the public sector and the reflection of the application of international accounting standards for the public sector on financial performance , The study started from the problem that the failure to diversify the assets of the investments of the Iraqi pension fund and accounting for it in accordance with the international accounting standards for the public sector would affect its financial performance and in a way that leads to the inability of the pension fund in the future to fulfill its obligations towards the beneficiaries, as a survey was conducted for the most important pension funds in various Countries of the world working to diversify their investments in accordance with the application of international accounting standards for the public sector and the extent of its impact on financial performance according to a checklist, and the strategy of diversifying assets invested in pension funds in countries of the world was revealed according to another checklist , A questionnaire was made to find out the importance of accounting for retirement fund investments in accordance with international accounting standards for the public sector and its impact on financial performance. The need for the Iraqi pension fund to adopt international accounting standards for the public sector, which ensures the possibility of diversifying the assets of the pension fund and disclosure in the financial statements in accordance with the requirements of Standard No. (1) Presentation of Financial Statements.
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Copyright (c) 2022 Mohammed Abdullah Ahmed , Asst. Prof. Ilham Mohammed Wathik
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