Public sector accounting in Ghana has evolved significantly since the country gained independence in 1957. Initially influenced by colonial accounting practices, Ghana's public financial management system underwent reforms in the 1990s aimed at improving transparency and accountability. The introduction of the Public Financial Management Reform Program (PFMRP) in the early 2000s further modernized accounting practices, leading to the adoption of International Public Sector Accounting Standards (IPSAS). Today, Ghana continues to refine its public sector accounting framework to enhance governance and fiscal responsibility.
what is the importance of public sector accounting
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.
Explain why it's important to study public sector accounting.
The purpose of a public sector is to give service to the customers
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.
devinition
ANSWERS
Khleif Al-Khawaldeh is the Minister of Public Sector Development for Jordan.
no
Yes
kamran ali
money set aside for expenses