Cash Flow Statements for General Government of Greece from 2025: Answers to Long-Term Queries

The application of commercial accrual accounting principles to the public sector has been criticized by many academics, either with respect to the whole of the public sector, or to some special parts of it (social contributions and benefits). The implementation of the double entry accounting system in the Greek State has begun to evolve in recent years and may be expected to evolve still further in the future, in a greater number of state agencies, as well as with greater clarity in the information provided. In this chapter, we investigate the cash flow statements that contribute to the accounting plan of General Government of Greece that is going to be implemented from 2025. Our research shows that accounting standards can be a helpful decision-making tool that can serve the General Government providing comparable financial information. Also, the accounting standards, such as Cash Flow Statements (IAS7), can help address the long-standing social problems faced by the public sector in Greece and answer long-term queries.