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  • CRCI Jan 2021 Lecture 5b PPT Slides Financial Accounting and Reporting in Public Sector

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    Tan Yong Wei
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    This document discusses public sector accounting concepts including what a fund is, why governments prepare financial reports, the differences between public sector and private sector accounting objectives and concepts. It covers the contents of public accounts, changes to accounting standards over time, and financial accounting techniques used in the public sector like cash, accrual, and modified cash/accrual accounting. The benefits and challenges of different approaches are presented along with drivers for changes in public sector accounting standards.

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    National Public Sector Accountants Conference

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    This document discusses public sector accounting concepts including what a fund is, why governments prepare financial reports, the differences between public sector and private sector accounting objectives and concepts. It covers the contents of public accounts, changes to accounting standards over time, and financial accounting techniques used in the public sector like cash, accrual, and modified cash/accrual accounting. The benefits and challenges of different approaches are presented along with drivers for changes in public sector accounting standards.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    17 views59 pages

    CRCI Jan 2021 Lecture 5b PPT Slides Financial Accounting and Reporting in Public Sector

    Uploaded by

    Tan Yong Wei
    This document discusses public sector accounting concepts including what a fund is, why governments prepare financial reports, the differences between public sector and private sector accounting objectives and concepts. It covers the contents of public accounts, changes to accounting standards over time, and financial accounting techniques used in the public sector like cash, accrual, and modified cash/accrual accounting. The benefits and challenges of different approaches are presented along with drivers for changes in public sector accounting standards.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 59

    Learning Objectives

    Readings
    What is a “FUND”?
    Fund Accounting
    Fund Accounting
    Fund Accounting
    Why government prepare financial
    reports ?
    Features and Characteristics
    Features and Characteristics
    Features and Characteristics
    PSA vs Private Sector Accounting
    Objectives
    PSA vs Private Sector Accounting
    Objectives
    PSA vs Private Sector Accounting
    Accounting Concepts
    PSA vs Private Sector Accounting
    Financial Reporting Terminology
    Users and Uses
    Public Accounts
    Contents of Public Accounts
    ( refer to figure 7.1, 7.2, 7.3A, 7.3B,
    7.4C, &7.4D, 7.4E, 7.5, 7.6 Key text
    Revised Federal Government Financial
    Statement Effective 2010
    (Ref: Federal Financial Statement 2010)
    Statement of Financial Position
    (Pg 235 of Federal Financial Statements
    2010)
    Statement of Financial Performance
    (Pg 238 of Federal Financial Statements
    2010)
    Statement of Memorandum Account
    (Pg 239,250, 251)
    of Federal Financial Statements 2010)
    Notes to Public Accounts
    (Pg 240 of Federal Financial Statements
    2010)
    Financial Accounting Techniques
    Cash Accounting
    Benefits of Cash Accounting
    Problems of Cash Accounting
    Accrual Accounting
    Benefits of Accrual Accounting
    Benefits of Accrual Accounting
    Problems of Accrual Accounting
    Problems of Accrual Accounting
    Modified Cash Accounting (MCA)
    Modified Cash Accounting
    Benefits Of Modified Cash Accounting
    Modified Accrual Accounting
    Changes in Public Sector Accounting
    Current Basis of Accounting
    Why change from cash to accrual
    accounting ?
    Why change from cash to accrual
    accounting ?
    Outcomes of implementation of accrual
    accounting for Malaysia public sector
    Challenges in Implementing Accruals
    Accounting
    Promoters of Accrual Accounting for
    the Public Sector
    IFAC and Public Sector Accounting
    Standards
    IFAC and Public Sector Accounting
    Standards
    Something to ponder ……….

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