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Syllabus: CICTA 304
SYLLABUS CICTA 304 - COURSE: PUBLIC SECTOR ACCOUNTING CERTIFICATE LEVEL
Course Objective
The course is designed to equip students in governmental accounting. The course seeks to enhance the student?s knowledge in financial administration in government organizations where public funds are managed.
21.2 Course Description
The module embodies distinctions and explanations between public sector accounting and private sector accounting, uses of public accounts, sources of public sector revenue and government expenditure, local government administration, central government accounting, ministries departments and agencies, public sector budgeting and controls.
21.3 SYNOPSIS
21.3.1 Introduction to Public Sector Accounting and Public Sector Concepts
* Nature of Public Sector Accounting System
* The importance of public sector accounting
* Government (Public) and Commercial (Private) Accounting compared.
* Users of Public Sector Financial Information
21.3.2 Public Sector Accounting and Regulatory Framework
* An overview of the regulatory bodies. E.g. Office of the President, The Parliament, The Audit Service
* Financial Administration laws
* Internal Audit laws
* Preparation of Public Sector Accounts:
* Trial Balance Extract
* Income and Expenditure
* Receipts and Payments
* Recurrent Expenditure Accounts
* Capital Expenditure Accounts
* Balance Sheet
21.3.3 Sources of Government Revenue and Government Expenditure
* Tax Revenues, Grants, Loans and Levies
* Payment and Expenditure Process, Government Commitment Process
* Government Expenditure
* Parliamentary Reserve Fund
* District Assembly Common Fund
* Financial Reports of Metropolitan, Municipal, District Assemblies
21.3.4 Salaries and Pensions Administration
* Payroll Processing
* Payroll and Personal Reports
* Funding Pensions Cost
* Process and Procedure of Paying Pensions
* Pensions Disclosures
21.3.5 Financial Performance Reporting
* Financial Reporting and Control
* Contents and Format of Monthly Statement of Public Accounts
* Analysis and Interpretation of Financial Reports in the Public Sector
* Principles and Practices of Financial Control
* Expenditure Control in the Treasury
21.3.6 Accounting for Government Stores
* Explain the following processes and associated accounting for government stores
* Transfer of stores
* Discharge of accountability for government stores
* Stores Accounting
21.3.7 The Concept of Fund Accounting
* Fund Accounting
* Contingency Fund
* Public Funds
* Revolving Fund
* Consolidated Fund
* Trust Fund
* Special Fund
* District Assembly Fund
* Sinking Fund
* Road Fund, etc.
* Counterparts Fund
21.3.8 Local and Federal Government Administration
* Federal and Local Government Budgets and Financial Reporting System
* Structure, Levels and hierarchy of the Federal and Local Government System
* Relationship between Federal / Central and Local Government
* The structure and levels of governance of Federal and local government
* The financial relations between Federal / central and local government
* Overview of budgeting by Federal and local governments
* Concepts of budgeting
* Legal framework
* Federal and Structure and contents of the Federal and local government budget
* Federal and Local government budgeting process
* Federal Local government budgeting system and presentation
* Local government budget execution, monitoring and evaluation
21.3.9 Financial Reporting and Control in the Public Sector
* Content and format of monthly statement of public accounts.
* Content and format of monthly statement of revenue and expenditure.
* Content and format of annual financial reports by Federal Metropolitan or District Assemblies
* Content and format of annual statements of the public accounts.
* Examination and interpretation of financial reports
* The principles and practice of financial controls
* Roles and responsibilities of monitoring and oversight institutions:
* Auditor-general
* Internal audit agency
* Public accounts committee
The course is designed to equip students in governmental accounting. The course seeks to enhance the student?s knowledge in financial administration in government organizations where public funds are managed.
21.2 Course Description
The module embodies distinctions and explanations between public sector accounting and private sector accounting, uses of public accounts, sources of public sector revenue and government expenditure, local government administration, central government accounting, ministries departments and agencies, public sector budgeting and controls.
21.3 SYNOPSIS
21.3.1 Introduction to Public Sector Accounting and Public Sector Concepts
* Nature of Public Sector Accounting System
* The importance of public sector accounting
* Government (Public) and Commercial (Private) Accounting compared.
* Users of Public Sector Financial Information
21.3.2 Public Sector Accounting and Regulatory Framework
* An overview of the regulatory bodies. E.g. Office of the President, The Parliament, The Audit Service
* Financial Administration laws
* Internal Audit laws
* Preparation of Public Sector Accounts:
* Trial Balance Extract
* Income and Expenditure
* Receipts and Payments
* Recurrent Expenditure Accounts
* Capital Expenditure Accounts
* Balance Sheet
21.3.3 Sources of Government Revenue and Government Expenditure
* Tax Revenues, Grants, Loans and Levies
* Payment and Expenditure Process, Government Commitment Process
* Government Expenditure
* Parliamentary Reserve Fund
* District Assembly Common Fund
* Financial Reports of Metropolitan, Municipal, District Assemblies
21.3.4 Salaries and Pensions Administration
* Payroll Processing
* Payroll and Personal Reports
* Funding Pensions Cost
* Process and Procedure of Paying Pensions
* Pensions Disclosures
21.3.5 Financial Performance Reporting
* Financial Reporting and Control
* Contents and Format of Monthly Statement of Public Accounts
* Analysis and Interpretation of Financial Reports in the Public Sector
* Principles and Practices of Financial Control
* Expenditure Control in the Treasury
21.3.6 Accounting for Government Stores
* Explain the following processes and associated accounting for government stores
* Transfer of stores
* Discharge of accountability for government stores
* Stores Accounting
21.3.7 The Concept of Fund Accounting
* Fund Accounting
* Contingency Fund
* Public Funds
* Revolving Fund
* Consolidated Fund
* Trust Fund
* Special Fund
* District Assembly Fund
* Sinking Fund
* Road Fund, etc.
* Counterparts Fund
21.3.8 Local and Federal Government Administration
* Federal and Local Government Budgets and Financial Reporting System
* Structure, Levels and hierarchy of the Federal and Local Government System
* Relationship between Federal / Central and Local Government
* The structure and levels of governance of Federal and local government
* The financial relations between Federal / central and local government
* Overview of budgeting by Federal and local governments
* Concepts of budgeting
* Legal framework
* Federal and Structure and contents of the Federal and local government budget
* Federal and Local government budgeting process
* Federal Local government budgeting system and presentation
* Local government budget execution, monitoring and evaluation
21.3.9 Financial Reporting and Control in the Public Sector
* Content and format of monthly statement of public accounts.
* Content and format of monthly statement of revenue and expenditure.
* Content and format of annual financial reports by Federal Metropolitan or District Assemblies
* Content and format of annual statements of the public accounts.
* Examination and interpretation of financial reports
* The principles and practice of financial controls
* Roles and responsibilities of monitoring and oversight institutions:
* Auditor-general
* Internal audit agency
* Public accounts committee
