OBJECTIVES
At the end of this lesson you should be able to meet these objectives:
- State the accounting concepts, bases and policies of relevance to government accounting.
- Prepare analyse and interpret financial statements of government units.
- Public sector accounting; the development of accounting standards and their applicability to the public sector.
- Fund accounting and its relationship to entity theory
- Income measurement and valuation in the public sector.
- Prepare the accounts of state corporations and similar organisations.
CONTENTS
Content Covered:
- Definition of Public Sector Accounting
- Objectives of Public Sector Accounting
- Users of Public Sector Accounting Information
- The Importance of Public Sector Accounting to the Users
- Constitutional and Regulatory Framework of Public Sector Accounting
- Concepts and Principles Applicable To Public Sector Accounting
- Bases of Public Sector Accounting
- Comparison between Government Accounting and Private Sector Accounting
- Bases of accounting: Cash basis, Modified cash basis, Full accruals basis and Modified accruals basis
- Sources and Uses of Government Revenue
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