SUN-ACC 308- PUBLIC SECTOR ACCOUNTING AND REPORTING 2

COURSE OUTLINE

Course Title: Public Sector Accounting & Reporting

Course Code: ACC 308

Credit Hours: 45 hours

Unit:  3 units

GENERAL OBJECTIVES:

On completion of this course, the student should be able to:

i.            Explain the underlying concepts and principles in public sector accounting;

ii.            State the constitutional, legislative and regulatory frameworks of public sector accounting

iii.            Discuss the process and responsibilities for planning and budgeting in the public sector;

iv.            Discuss Medium Term Expenditure Framework (MTEF), Medium Term Sector Strategies (MTSS) and Planning, Programming and Budgeting System (PPBS);

v.            Identify the underlying concepts, principles and framework for reporting and auditing in public sector organisations;

vi.            Discuss the roles of bodies set up for accountability and probity of public office holders;

vii.            Explain and discuss the objective and preparation of financial statements using the accrual basis method;

viii.            Explain differences between Cash and Accruals Bases of Public Sector Accounting;

ix.            Identify and apply international public sector accounting standards;

x.            Discuss auditing in the public sector covering - financial and internal controls, value for money audit, performance audit, etc;

xi.            Differentiate between financial reporting in the private sector and public sector (application of IFRS and IPSAS, IASB and IPSAB);

xii.            Explain public procurement procedure – Public Procurement Act, 2007; and

xiii.            Discuss ethical issues relating to public sector accounting.

 

 

LECTURER-IN CHARGE:

PATRIOT ODUNARO BABATUNDE JIMOH (08038454008)

       (HOD ACCOUNTANCY LCP)