Public Sector Accounting SS3 Financial Accounting Lesson Note

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

1. Define public sector and public sector accounting
2. Highlight the purpose of public sector accounting

INSTRUCTIONAL TECHNIQUES: 

• Identification, 
• explanation, 
• questions and answers, 
• demonstration, 
• videos from source

INSTRUCTIONAL MATERIALS: 

• Videos, 
• loudspeaker, 
• Textbook,
• Pictures

NOTE

PUBLIC SECTOR ACCOUNTING

The public sector can be defined as the government sector whose affairs or services are made known to the public (people in general) in aggregate and detail reflecting all transactions involving the receipt, transfer, and disposition of its funds and properties.

Public sector accounting can also be defined as the process of recording, analyzing, and interpreting the financial transactions of the government.

Government accounting shows the receipts and disbursement of public funds at all levels of government. This is governed by the constitution of the Federal Republic of Nigeria 1979 as amended in 1989.

 PURPOSE OF PUBLIC SECTOR ACCOUNTING:

1. To serve as a basis for decision-making
2. To depict the source of government revenue
3. To serve as a basis for appraisal of the performance of management.
4. To serve as the basis for planning and making a budget. Etc

EVALUATION:

Explain the following

1. public sector
2. public sector accounting
3. Highlight the purpose of public sector accounting

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively