- 10 Marks
PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector
Prepares a consolidated budget report comparing budgeted and actual amounts for Ogoja State Government for the year ended 2018.
Question
IPSAS 24 on Presentation of Budget Information in Financial Statements requires a comparison of budgeted amounts and the actual amount arising from execution of the budget to be included in the financial statements of entities. The standard also requires disclosure of an explanation of the reasons for material differences between the budget and actual amounts to ensure that public sector entities discharge their accountability obligations and enhance the transparency of their financial statements.
Ogoja State Government provided the following budget information for the year ended December 31, 2018.
Required:
Prepare a consolidated budget report for the year ended December 31, 2018.
Find Related Questions by Tags, levels, etc.
Report an error