A public sector bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks.
A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.
The public sector is a government (city, state, national); the private sector is a business. Public sector jobs are publicly-funded (by taxes, for instance) whereas private sector jobs depend on the revenue of the business
Public sector uses public tax dollar and is not subject to the free market
Public sector cash comes from the government (ie the tax-payer) Private sector fund come from donations (either by individuals or businesses)
I take it you mean what are instead of what rare. The private sector is owned by the people. The public sector is owned by the government.
Ownership of the public sector of a certain country is shared equally by all citizens of that country. There should be certain laws that specify how does the PS get revenues and how does it spend them, how does it hire & fire employees, lowest and highest possible salaries ...etc. While ownership of any private sector entity is limited to the persons who paid up the capital to form it. Those persons may or may not be citizens of that country. Each private sector entity could invent its own rules of hiring & firing and payouts ...etc.
The difference between public sector and private sector is that when you're in the public sector you work for the government whereas private sector is not. Same applies to accounting.
public sector audit is different from private sector audit
public sector audit is different from private sector audit
Government is public sector. Corporations and partnerships are Private sector. The government wants to support both the public and private sector to improve the economy and well-offness of the people it serves.
the public sector does not aim to make a profit and the private sector does an example of the private sector would be primark public sector would be the police,fire engines. The government own the public sector whilst the private sector is owned by its own individuals.
Public sector uses public tax dollar and is not subject to the free market
The public sector is a government (city, state, national); the private sector is a business. Public sector jobs are publicly-funded (by taxes, for instance) whereas private sector jobs depend on the revenue of the business
Public sector cash comes from the government (ie the tax-payer) Private sector fund come from donations (either by individuals or businesses)
Government agencies are in the public sector while government contractors are in the private sector.
1. The private sector accounting prepared accrual basis but public sector Accounting prepared cash basis. 2. The public sector account fixed assets treated expense but Private sector account fixed assets treated capital. 3. The public sector account analysis report Public but private sector account analysis report not public. 4. The public sector account fixed assets not calculated depreciation but private sector account fixed assets depreciation calculated.
comparison in denture costing between public and private sector
Government corporations are in the public sector while government contractors are in the private sector.