Revolutionizing Cost Accounting System for Transparent Local Government Spending.
The article discusses ways to improve cost accounting systems in South Korea and suggests ways to disclose more cost information. The researchers reviewed the current cost accounting system and identified problems with using cost information in local government finances. They analyzed cost calculation practices in Bucheon City to suggest improvements. The study found that current cost information lacks comparability and suffers from structural issues in local finance. To enhance the usefulness of cost information, expanding the disclosure of costs for projects benefiting residents and social infrastructure is necessary. Modifying cost calculation methods in Bucheon City and establishing cost centers and legal frameworks for cost information usage are also recommended.