The course examines the role of government in Nigeria and its mechanisms for control over public expenditures and resources to ensure greater efficiency and effectiveness in government activities. It considers:
- The Constitutional and Regulatory Framework of Public Sector Accounting;
- Public Sector Accounting Concepts and Pronouncements;
- Planning and Budgeting in Public Sector;
- Public Sector Accounting and Financial Reporting;
- Accounting for Public Sector Organizations and Government Business Entity;
- Public Sector Audit;
- Finance in Government
- Management and performance of government business enterprises including privatization issues;
An understanding of the public-sector environment, legal framework and financial authorities that support the compilation of reliable financial accounts for the public sector and evaluation of the financial performance of the Nigerian economy.
Course/Learning Objectives By the end of this course, the student/ user is expected to:
- Understand the legal frameworks and the financial authorities used in the Public Sector.
- Describe the accounting concepts, Fund accounting, Concepts and various Professional pronouncements on Government Accounting.
- Identify the various revenue inflows to the federated account and consolidated revenue fund, their differing characteristics and interaction with each other.
- Evaluate the Financial Management Cycle in Federal, State and Local Governments and explain the main public expenditure votes- Personnel Emolument, Overheads and Capital Votes and the rules guiding disbursement.
- Prepare Financial Statements for Parastatals based on enabling laws setting each up and explain the procedure of accounting for the fund allocated to each of them.
- Analyze economic environment in respect of sources of revenue and capital receipts, debt management strategies and project appraisal in relation to medium term expenditure framework.
- Successful completion of the ICAN Foundation Courses.
- Recognized degree in Accounting from any University or Higher National Diploma of any Polytechnic.
- Any other qualification for the time being approved by the Council.
- The student possesses the basic educational qualifications and should be a fit person to be registered.