Public Sector Accounting and Finance

Public Sector Accounting and Finance

Aim

Candidates are expected to:

Understand the activities/services in the public sector environment, legislative and

financial frameworks as well as the accounting practices required to ensure

accountability in the sector;

Identify the nature of public sector organizations and their objectives, the role and

significance of accounting standards, the structure of government, and key aspects

of legislations in public sector accounting; and

Understand the concept of public goods and how the government finances and

optimally provides these goods.

Main competencies

On successful completion of this paper, candidates should be able to:

Understand the concepts and frameworks of public sector accounting;

Understand the roles, duties and powers of officers and various organs in the

public sector;

Understand basic principles of public sector financial management;

Assess and evaluate the economic environment and role of the public sector in

the economy;

Evaluate ethical and emerging issues in the public sector; and

Evaluate the performance of each level of government and government entities in

public finance management.

Detailed syllabus

A Regulatory and conceptual frameworks of public sector accounting

1. The constitutional and regulatory frameworks of public sector accounting

(a) Discuss the importance of the constitutional, legislative and regulatory

contexts of Public Sector Accounting with specific emphasis on:

(i) The constitutional provisions on revenue, revenue allocation and

public expenditure (federal, states and local governments);

(ii) The provisions of the Finance (Control and Management) Act of

1958 (as amended); and

(iii) Financial regulations for Federal and State Governments and

financial memoranda for Local Government Councils.

(b) Discuss the provisions of:

(i) Fiscal Responsibility Act, 2010 in relation to:

The medium term expenditure framework (MTEF)

The annual budget (computational question may be

examined)

Budget execution and achievement of targets

(computational question may be examined)

Savings and assets management;

Transparency and accountability and

English

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What you will learn

• Understand the concepts and frameworks of public sector accounting
• Understand the roles, duties and powers of officers and various organs in the public sector
• Understand basic principles of public sector financial management

Rating: 1

Level: All Levels

Duration: 10 hours

Instructor: ICAN Online Tutors