DEPARTMENT OF ACCOUNTING

FACULTY OF MANAGEMENT SCIENCES

KADUNA STATE UNIVERSITY, KADUNA
PROGRAM: POSTGRADUATE DIPLOMA IN ACCOUNTING (PGD)
COURSE: ASCE XXX (PUBLIC SECTOR ACCOUNTING AND REPORTING)
COURSE: LOADING: 2 UNITS
SEMESTER: SECOND (2ND)
MODULE V: TREASURY FINAL ACCOUNTS

1 JACENTA OKOH KASU/SCE/20/ACC/2012

2 AMINA ISA
KASU/SCE/19/ACC/1009
3 ISIYAKU UMAR KASU/SCE/20/ACC/2027

4 HARUNA TIJJANI UMAR KASU/SCE/19/ACC/1023

5 ADAMU YAHAYA KASU/SCE/21/ACC/3001

6 P HORSEA KASU/SCE/19/ACC/1023

7 MARYAM MUHAMMAD AHMAD KASU/SCE/20/ACC/2028

8 SAGIR MOHAMMED KASU/SCE/19/ACC/1024

9 ADEBAYO AKEEM KASU/SCE/20/ACC/2014

10 A’SMA’U UMAR GADO KASU/SCE/20/ACC/2006

INTRODUCTION
The Federal Treasury Department plays a crucial role in the financial management
of a country's government. It is responsible for overseeing the collection, custody,
and disbursement of funds, ensuring the effective and efficient use of the nation's
financial resources. In addition to these responsibilities, the department also plays
a vital role in the preparation of the Treasury final accounts.

The Treasury final accounts refer to the financial statements that are prepared at
the end of a fiscal year. These statements provide a comprehensive overview of
the government's financial activities, including revenue, expenditures, assets,
liabilities, and changes in equity. They serve as a key tool for assessing the
financial health and performance of the government, enabling transparency and
accountability in financial reporting.

The preparation of Treasury final accounts involves several key steps. The Federal
Treasury Department works closely with various government agencies and
departments to gather financial data and transactions for the relevant period. This
includes income and expenditure records, balance sheets, cash flow statements,
and other relevant financial information.

Once the necessary data has been collected, the Treasury Department analyzes
and organizes it in accordance with applicable accounting standards and
government regulations. They ensure that all financial information is accurate,
complete, and compliant with established guidelines. Any discrepancies or errors
are identified and reconciled, ensuring the integrity of the final accounts.

The functions of the Final Accounts Unit of the Treasury Department and the
various financial statements they prepare will be discussed.

THE TREASURY DEPARTMENT

The office of the Accountant –General is responsible for the preparation of the
final accounts at both the federal and state levels. The office is made up of eight
departments:
1. Finance and Administration
2. Personnel
3. Administration
4. Treasury
5. Internal Audit
6. Ministry of Finance Incorporated
7. Treasury Academy
8. Inspectorate.

1. Finance and Administration: This department handles the financial

management activities of the organization as a whole. They are responsible for
budgeting, financial reporting, payroll, accounts payable and receivable, and
general financial administration.

2. Personnel: The Personnel department, also known as Human Resources (HR),

manages matters relating to the organization's employees. They handle
recruitment, employee benefits, payroll administration, training and development,
and employee relations.

3. Administration: The Administration department supports the overall

functioning of the organization by managing various administrative tasks. This may
include office management, facility management, procurement, travel
management, and other administrative duties.

4. Treasury: The Treasury department is responsible for managing the

organization's financial assets and liabilities. They handle cash management,
liquidity management, foreign exchange operations, debt management, and
investment activities. The treasury department ensures that the organization has
enough funds to meet its financial obligations and optimizes the use of financial
resources.
5. Internal Audit: The Internal Audit department conducts independent and
objective evaluations of the organization's internal controls, processes, and
financial systems. They review compliance with policies and regulations, assess
risks, and provide recommendations for improvement. Internal Audit helps ensure
transparency, accountability, and the prevention of fraud or misconduct.

6. Ministry of Finance Incorporated: The Ministry of Finance Incorporated is a

government entity that oversees the financial management and operations of
government-owned companies or entities. They provide guidelines, support, and
regulatory oversight to ensure proper financial governance.

7. Treasury Academy: The Treasury Academy is an educational institution or

training center that specializes in providing knowledge and training in treasury-
related topics. It offers courses, workshops, and certifications to professionals
working in treasury or those interested in pursuing a career in treasury
management.

8. Inspectorate: The Inspectorate department is responsible for monitoring and

enforcing compliance with regulations, policies, and procedures within the
organization. They conduct audits, investigations, and inspections to ensure
adherence to standards and identify areas that require improvement or corrective
actions. The Inspectorate's role is to ensure organizational integrity, efficiency, and
effectiveness.

Out of these departments, the Treasury Department of the Federal Ministry of

Finance is charged with the responsibility of preparing the final accounts. To
execute this function effectively, the Department of Treasury is sub-divided into
five units:
1. Treasury
2 Final accounts
3 Sub-Treasury
4. Revenue Monitoring
5. Cash Supply
1. Treasury: The Treasury department is responsible for managing the financial
resources of an organization, usually a government or large corporation. They
ensure the efficient and effective use of funds, oversee budgeting processes, and
handle cash management.

2. Final accounts: Final accounts refer to the financial statements that are
prepared at the end of an accounting period, typically annually. These statements
include the balance sheet, income statement, statement of cash flows, and
statement of changes in equity.
3. Sub-Treasury: A sub-treasury is a branch or subsidiary of the Treasury
department that operates in a specific location or serves a particular function. It is
responsible for managing and overseeing financial operations within its
designated area.

4. Revenue Monitoring: The revenue monitoring function of the Treasury

department involves tracking and analyzing the organization's income streams,
such as taxes, fees, and other sources of revenue. It ensures that revenues are
collected accurately and in a timely manner.

5. Cash Supply: The Treasury department manages the cash supply of the
organization, ensuring that there is sufficient liquidity to meet financial
obligations. This involves forecasting cash needs, monitoring cash inflows and
outflows, and optimizing the allocation of funds.