Public Sector Accounting and Accountability: a public value(s) perspective

Public value is an established concept used in different fields like in public management, public administration and public policy. Public value accounting research in particular has mostly focused on its instrumental value on how to measure, control, report and manage public value. There have been little attempts to theoretically advance the concept of public value accounting and how adopting a public value perspective will mould the way accounting is conceptualized and practiced. The aim of this article is to propose a conceptualisation of how public sector accounting and accountability can be framed from a public value perspective and in so doing providing a basis for developing future research as well as for practice. The paper follows an abductive approach where: first, public value accounting is conceptualised in its core-elements drawing from the accounting and public management and public administration literature; and second, a document analysis of the Italian Ministry of University and Research is used to apply the proposed public value accounting framework. The paper contributes to the theoretical development of public value accounting in public services, to foster future research and practice alike in this field.