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Public Sector Accounting and Administrative Practices in Nigeria Volume 1

The Nigerian Public Sector consists of three separate levels of government whose powers and relationships are not only defined but are also guaranteed by the constitution. They are the Federal, State and Local Governments. They conduct their activities through two major forms of organisations — Ministries/Extra Ministerial Departments and Parastatals (Public Enterprises). Parastatals include all corporations, authorities, boards, councils and limited liability companies in which the government has either full, majority or controlling interest. Officers in Ministries/Departments are referred to as Civil Servants while those in Parastatals are referred to as Public Officers. What then is Government Accounting? And what is the purpose of keeping the Accounts? Government Accounting can be defined as the process of recording, analysing, classifying, summarising, communicating and interpreting financial information about government in aggregate and in details, reflecting all transactions involving the receipt, transfer and disposition of government funds and property.....

Public Sector Accounting and Administrative Practices in Nigeria Volume 2

The Nigerian Public Sector consists of three separate levels of government whose powers and relationships are not only defined but are also guaranteed by the constitution. They are the Federal, State and Local Governments. They conduct their activities through two major forms of organisations — Ministries/Extra Ministerial Departments and Parastatals (Public Enterprises). Parastatals include all corporations, authorities, boards, councils and limited liability companies in which the government has either full, majority or controlling interest. Officers in Ministries/Departments are referred to as Civil Servants while those in Parastatals are referred to as Public Officers. What then is Government Accounting? And what is the purpose of keeping the Accounts? Government Accounting can be defined as the process of recording, analysing, classifying, summarising, communicating and interpreting financial information about government in aggregate and in details, reflecting all transactions involving the receipt, transfer and disposition of government funds and property.....

Introduction to the Concept of IPSAS Accrural Accounting

The accounting profession is built on a bedrock of “Rules of Accounting” which guide the book-keeping, recording and preparation of accounts/financial statements and theorize the works of the accounting profession. These rules of accounting are known and referred to as the Concepts of Accounting.
Two of these Accounting Concepts – the Accrual and Matching Concepts, focus on the method of tracking income and expenses in accounting. These oncepts form the basis for categorization of the methods of keeping track of an entity’s income and expenses.

Practical Approach On Conversion To IPSAS Accrual

International Public Sector Accounting Standards (IPSAS) are high quality set of standards issued by IPSAS Board to regulate the practice of accounting in the Public Sector all over the World. Financial Statements are a collection of Reports about an Entity's Financial Results, Financial Condition and Cash flows. In other ways, they are final records that outline the activities of an Entity.
IPSAS compliant Financial Statements are those intended to fulfill the information needs of wide range of users who are not in a position to demand reports tailored to meet their particular information needs.

Accounting For Inventories

• Inventories Are Assets:
• Held in the form of materials or supplies to be consumed in the productive process;
• Held in the form of materials or supplies to be consumed or distributed in the rendering of services;
• Held for sale or distribution in the ordinary course of operation; and
• Held in the process of production for sale or distribution.

Public Sector Terminology

Public sector is that part of an economy that is controlled by the government; Mrs. Margaret Rose define it as that portion of society controlled by National, State and Local Governments. In most of the Countries, the public sector comprises universal, critical services such as National Defense, homeland security, Police protection, Fire-fighting, Urban plans correction, Taxation, Public road, Primary Education and various social programmes.

A Critical Appraisal of The Operation and Management of The State and Local Government Joint Account and The Need For Review

1.0 INTRODUCTION
I would like to thank the organizer of this workshop for giving my office the opportunity to participate in this retreat for the top management staff of the independent corrupt practices and other related offences commission.

Financial Accounting and Reporting Skill

1.0 INTRODUCTION
Financial Accounting is a specialized branch of accounting that keeps track of a company’s financial transactions’ using standardized guidelines. The transactions are recorded, summarized and presented in a financial report or Financial Statement such as Income statement or Statement of Financial Position.