Financial Security and Invoicing in Management of Public Enterprises Whose Founders are Local Self-Government Units, Example Republic of Serbia

Abstract

The purpose of the study was to analyze two forms of invoicing in the operations of public companies that were established by local self-government units in the Republic of Serbia. At the same time, to point out the importance of introducing electronic invoicing in regular business. The author's focus was on the comparison of classic and electronic invoicing with the aim of improving the future financial reporting of companies according to the administrative bodies of local self-government units. The analysis of this process was carried out through a threefold observation of the evaluation, namely: employees, top management of the company and management of the administrative bodies of local self-government units. Our contribution is reflected in the fact that we discovered that there are large differences in the level of significance of the t test, i.e. they are less than the threshold level of significance for all analyzed factors (p<0.0005*) in all 6 analyzed factors and in their total observation, between classical and electronic invoicing. Also, higher values were obtained when evaluating electronic invoicing compared to classical financial reporting of public companies, which indicates the importance of introducing the mentioned form of financial reporting.