Introduction to Public Sector Accounting

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  • 84 hour
Introduction to Public Sector Accounting


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.

Course Requirement

  • 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.



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