Question Tag: Public Sector Accounting

Search 500 + past questions and counting.

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

Question

i. Identify TWO provisions of Financial Regulations which guide against the delay in contract payments. (3 Marks)

ii. Enumerate TWO punishments each that can be meted out to a government official and a legal person in case of delay in payment of contracts executed. (4 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Contract Payment Delays, Financial Regulations, Government Contracts, Penalties, Public Sector Accounting
Level: Level 2

Topic: Public Procurement and Contract Management

PSAF – May 2023 – L1 – SA – Q2 – Regulatory and Institutional Framework

Objectives and contents of Local Government Financial Memoranda and journal entries for Bureau transactions.

Question

a. The revised Local Government Financial Memoranda (1991) spells out the administrative guidelines, the existing checks and balances, and roles of officers in local governments.

Required:

Identify THREE objectives and FIVE contents of Local Government Financial Memoranda. (8 Marks)

b. Bureau of Establishments and Training of Waso State awarded a contract to one of its Government Business Entities (GBE), Unity Enterprises, for the supply of stationery for use in various MDAs in the State. The Bureau conducted the following transactions for the year ended December 31, 2020:

The Bureau issued a purchase order to Unity Enterprises for the supply of 1,250,000 reams of duplicating papers at N1,200 per unit. The items were supplied on May 31, 2020.
An additional order for 5,000 training bags was placed with Unity Enterprises at N2,500 per bag. The bags were delivered on June 30, 2020.
During the year, 1,100,000 reams of duplicating papers and 4,500 training bags were issued to user departments for training activities.
Physical verification revealed that 25,000 reams of duplicating papers were damaged by floodwater.
The Bureau transferred 25,000 reams of duplicating papers to its outstation office.

Required:

Record the above transactions as journal entries in the books of Bureau of Establishments and Training of Waso State.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Administrative Guidelines, Financial Memoranda, Local Government, Public Sector Accounting, Regulatory Framework
Level: Level 2

Topic: Regulatory and Institutional Framework
Series: MAY 2023

PSAF – May 2023 – L2 – SA – Q1 – Public Sector Financial Statements

Prepare statements for government performance and financial position, including adjustments and depreciation calculations.

Question

a. The following information relates to the accounts of Dovet State Government for the year ended December 31, 2022:

Description	DR (N’M)	CR (N’M)
Land and buildings (cost)	387,500
Long-term investments	187,500
Equipment and furniture	67,500
Accumulated depreciation:
– Land and building		40,000
– Motor vehicles		30,000
– Equipment and furniture		21,250
Motor vehicles (cost)	145,000
Federation account allocation		287,500
VAT allocation		87,500
Grants from Federal Government		33,750
Internally generated fund		97,500
Grant from donor agency		25,000
Personnel emolument	125,000
Maintenance of premises	5,000
Consolidated Revenue Fund charges	32,500
Overhead expenses	25,000
Miscellaneous expenditure/income	37,500	61,250
Loan notes		250,000
Current assets/liabilities	38,750	36,250
Consolidated Revenue Fund (CRF)		81,250
Total	1,051,250	1,051,250

Additional Information:

Loan interest outstanding at the end of the year was N12.5 billion.
Depreciation on tangible assets is charged at the following rates on cost:
- Building is 5% (cost of land is N250 billion)
- Motor vehicles is 20%
- Equipment and furniture is 15%
A building costing N12.5 billion with accumulated depreciation of N5 billion was sold for N11.25 billion. This transaction has not been adjusted in the accounts.
Interest on receivable amounted to N10 billion.

Required:

Prepare the Statement of Financial Performance for the year ended December 31, 2022.
Prepare the Statement of Financial Position as at December 31, 2022.

b. Financial statements provide information that meets a number of qualitative characteristics in financial reporting.

Required:
Discuss FOUR characteristics of financial reporting.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Consolidated Revenue, Depreciation, Expenditure, Government Financial Statements, Public Sector Accounting, Revenue
Level: Level 2

Topic: Public Sector Financial Statements
Series: MAY 2023

PSAF – Nov 2015 – L2 – Q4 – Public Sector Financial Statements

Prepare the financial statements of Egbin Electricity Board for 2014, including statement of financial performance and position.

Question

The following information has been extracted from the books of Egbin Electricity Board, a public sector-owned electricity generating company, for the year ended December 31, 2014:

Item	N’000
Accumulated Depreciation, January 1, 2014	45,224
Sale of Electricity	114,392
Purchase of Electricity	95,784
Meter reading, billing, and collection	1,624
Non-Current Assets Expenditure	84,102
Debtors for electricity consumption	12,006
Training and welfare	692
Stock and work-in-progress	1,234
Rents, Rates, and Insurance	2,126
Electricity Estimated unread consumption	7,222
Administration and General Expenses	1,476
Electricity Council Grant	21,556
Preparation of Electricity Council’s Expenses	362
Bank Balance and Cash	1,284
Depreciation for the year	3,634
Hire purchase and deferred payment	2,672
Interest and Financing Expenses	2,434
Creditors and accrued liabilities	13,926
Profit on contracting and sale of appliance poles	534
Reserves	23,116
Rental of Meters Application	556
Distribution cost	4,476
Customer Service	1,810

Required:

Prepare in vertical form the Statement of Financial Performance and Statement of Financial Position for Egbin Electricity Board for the year ended December 31, 2014.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Reporting, Public Sector Accounting, Statement of Financial Performance, Statement of Financial Position
Level: Level 2

Topic: Public Sector Financial Statements
Series: NOV 2015

PSAF – May 2024 – L2 – SB – Q3 – Financial Reporting and Accountability in the Public Sector

Preparation of a bank reconciliation statement and discussion of challenges in e-payment.

Question

a. Differentiate between unapplied mandate and uncredited cheques. (5 Marks)

b. The Account Officer of University of Igbokuenu, Abia, supplied the following information for Asejere Bank for the month ended March 31, 2020. On the same date, the balance as per the bank statement was a credit balance of N26,229,000, while the cash book showed a debit balance of N12,063,000.

The investigation carried out by the accounts officer revealed the following:

There was a bank charge amounting to N15,000 for administrative fees, which had been deducted by the bank but no entry was made in the cash book.
A commission on turnover (COT) of N30,000 for the month of February had not been recorded in the cash book.
Interest of 2% was paid on an endowment fund of N127,500,000, which was maintained in a fixed deposit account in Kazua Bank. This was paid directly to Asejere Bank PLC, but has not been recorded in the cash book, while an investment income amounting to N60,000 was also received directly by the bank but has no entry in the cash book.
A cheque of N24,000 was received from B-Engineering services as a registration fee on March 31, 2020, and was duly entered into the cash book and taken to the bank on the same day but had not been credited as of the time the bank statement was collected.
Cheques amounting to N3,300,000, previously credited by the bank were dishonored.
A sum of N10,200,000 which was paid directly to the bank was received from the Abuja Alumni of the University in the form of aid, which the accountant has not recorded in the cash book, while an additional N4,500,000 aid was received from USAID but not recorded in the cash book.
Mandate numbers, which were issued by the University to the bank for payments to beneficiaries in March 2020, were yet to be applied with details as follows:

Mandate No.	Beneficiary	Amount (N)
0671420	SolarTech	90,000
0002418	GreenLaud	120,000
0021462	S-Publishers	15,000

Required:
i. Prepare a bank reconciliation statement for the period ended March 31, 2020. (10 Marks)

ii. Identify and explain FIVE challenges of bank reconciliation under the e-payment system. (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bank Reconciliation, Financial Reporting, Public Sector Accounting
Level: Level 2

Topic: Financial Reporting and Accountability in the Public Sector
Series: MAY 2024

PSAF – May 2024 – L2 – SA – Q1 – The Budgeting Process in the Public Secto

Cash budget preparation and analysis of budgeting systems.

Question

The University of Okoko Consultancy Unit (Uniko Consult) provides training courses for staff, public and private individuals. The consultancy unit is currently collating information for its budget for the six months ending December 31, 2021. The following information is available:

(i) Provisional bookings for courses:

	July	Aug	Sept	Oct	Nov	Dec
Number of courses	0	2	4	3	4	4
Average number of attendees per course	0	16	8	16	8	12

No courses are run during the month of July. Uniko Consult requires intending participants to confirm their attendance in the week prior to the course, giving their credit card number as a guarantee. On average, 75% of provisional bookings are confirmed and therefore result in fee payment.

(ii) Course prices:
Each course lasts for three days, running from Friday to Sunday. The fee for each course is N120,000 per attendee. Any returning participant will be given a 25% discount on the fee. One in three of confirmed bookings is from a returning participant.

(iii) Personnel costs:
The courses are delivered by an experienced team of professors led by Emeritus Professor Omopinleola, who charges Uniko Consult N300,000 for each course. His assistant, Dr. Chukwuma, is paid a wage of N50,000 per course. Uniko Consult has several part-time support staff. Wages costs for July are only N100,000 per month, but every month thereafter amounts to N400,000. The consult is planning to increase wages by 5% from September. All staff are paid at the end of each month.

(iv) Property costs:
The University owns a Researchers’ Lodge, which includes an office, a kitchen, and two conference rooms. Uniko Consult rents the Researchers’ Lodge at a rental cost of N2,400,000 per annum, with rents being paid quarterly in advance on March 31, June 30, September 30, and December 31. However, the Consultancy Unit has received notice from the Bursar stating that, with effect from December 31, 2021, annual rental payments will increase by 5%.

(v) Food costs (Tea break and lunch):
All food items purchased are organic and delivered weekly by Uniko Farms. On the 5th of each month, Uniko Consult pays the bill for the previous month’s food deliveries. In December, Uniko Consult is also required to settle its bill for December due to the two-week holiday taken by Uniko Farm in January. The cost for food on each training course is N5,000 per attendee. However, inflation of 2% per month is expected from September onwards. Food costs for June 2021 are expected to be N110,000.

(vi) General overheads:
Uniko Consult’s annual running costs are N835,000, paid in ten equal instalments from April to January each year. Fuel costs of N420,000 per annum are paid through monthly direct debits. Due to a systems error, the direct debits from January to April failed, so the payment for July will include these outstanding amounts.

(vii) Capital expenditure:
Uniko Consult needs to replace three air conditioners by August at a cost of N180,000 each, with a 10% discount negotiated. The supplier allows the payment in two instalments—one in August and the other in October.

(viii) Bank account:
The balance on the Consultancy’s bank account is expected to be zero on June 30, 2021, but it has an adequate overdraft facility to cover any cash deficit.

(ix) Remittances:
The Consultancy Unit must remit 50% of its cash balance to the University’s account on a half-yearly basis.

Required:

a. Prepare a cash budget for each of the six months ending December 31, 2021.
Note: All workings should be rounded to the nearest N000. (20 Marks)

b. Enumerate the steps involved in Planning, Programming, and Budgeting Systems (PPBS). (7 Marks)

c. State and explain THREE characteristics of the performance budgeting system. (3 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Cash Budget, Government Finance, Public Sector Accounting
Level: Level 2

Topic: The Budgeting Process in the Public Sector
Series: MAY 2024

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.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Budget and Actual Amounts, Budget Reporting, IPSAS 24, Public Sector Accounting, Transparency
Level: Level 2

Topic: Financial Reporting and Accountability in the Public Sector
Series: NOV 2019

PSAF – Nov 2019 – L2 – Q1 – Public Sector Financial Statements

Prepare financial statements and journal entries for Ogogo Local Government based on trial balance and transactions provided, and identify external controls and challenges.

Question

Ogogo Local Government is one of the 26 Local Governments in Alimosho state of
Federal Republic of Wazobia. The Local Government has adopted Treasury Single
Accounting (Direct method) and prepares its accounts using IPSAS accrual basis.
There has been wide spread fraud since the retirement of the Treasurer of the
council about two years ago. However, there was no adequate information to
suggest that there was fraud or misappropriation of funds. The Chairman invited
you to his office as the new Treasurer and handed over some of the financial data
from treasury department to you as detailed below:
The trial balance for the year ended December 31, 2017 is as follows:

The following transactions took place in the Office of the Treasurer of the Local
Government for the year ended December 31, 2018.
i. Listed below are the revenue and expenditure items for the year ended December 31, 2018

(ii) Code 1 is used as prefix for revenue, 2 for recurrent expenditure and 4 for
capital expenditure
(iii) Preliminary investigations carried out revealed the following irregularities,
which occurred and were discovered within the year:
• Included in the payments for the expenses under primary health care department were various duplicated vouchers amounting to N7million;
• There were some falsifications in the bills for items bought for the provision of water under other charges. The total discrepancies amounted to N3million.
(iv) The following agreed revenue demand notices were sent to the indigenes of the Local Government during the year.

(v) Included in the payments under works and housing is the cost of motor
vehicles of N25 million while medical equipment costing N35 million was
included in primary health care department expenses.
(vi) Included in the payments under works and housing is the cost of land
including construction of access roads, certificate of occupancy etc, amounting
to N100 million. The land was acquired by the Local Government and sold to
local prospective land owners at a cost of N520,000 per plot. The land consists
of 200 standard plots for the construction of houses of their choice. Only 150
plots were fully subscribed and paid for during the year.
(vii) Included in the payments under finance department is the cost of office
stationery of N25 million while the value of office stationery based on stock
sheet as at December 31, 2018 was N6.5 million.

viii) Capital grant from the State Government was received on December 31, 2017
and utilised in 2018.
(ix) The capital expenditure paid during the year was for the acquisition of land for the new Local Government Health Centers.
(x) Some of the accounting policies for depreciation adopted by the Government include the following depreciation rates;

Note: All non-current assets were purchased at the beginning of the
year.
(xi) The following expenses were incurred but not settled as at end of the year.

You are required to prepare:
a. The journal entries to record the loss of fund (3 Marks)
b. The statements of financial performance for year ended December 31, 2018
(15 Marks)
c. The statement of financial position as at December, 31 2018 (17 Marks)
d. Identify FIVE external controls and FIVE problems of Local Government in
Nigeria (5 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Financial Performance, Financial Position, IPSAS, Local Government Finance, Public Sector Accounting
Level: Level 2

Topic: Public Sector Financial Statements
Series: NOV 2019

PSAF – Nov 2021 – L2 – Q3a – Government Accounting Concepts and Principles

Discuss observations and features of a good public sector accounting system in developing countries.

Question

The records of research work in the individual countries in the ‘third world’ are difficult to obtain, unlike in the advanced countries, where research work has been documented and published.

Required:

Discuss FIVE observations and FIVE features of a good system of public sector accounting in the developing countries as contained in the United Nations Manual on Government Accounting.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Developing Countries, Government Accounting, Public Sector Accounting, UN Manual
Level: Level 2

Topic: Government Accounting Concepts and Principles
Series: NOV 2021

PSAF – Nov 2018 – L2 – Q2 – International Public Sector Accounting Standards (IPSAS)

Discuss reasons for holding investment properties and IPSAS 16 measurement methods, providing examples of investment and non-investment properties.

Question

In line with the Government’s efforts at promoting accountability and transparency, the Federal Government of Nigeria has adopted and is implementing the International Public Sector Accounting Standards (IPSAS). The IPSAS 16 specifically deals with Investment Property which could be land, building, or both. A public sector entity may be established to manage such property portfolios on a commercial basis. An example of such an entity could be a University or Local Government.

Required:
a. Discuss two reasons for holding investment property and the two methods of measurement as contained in IPSAS 16.
(8 Marks)
b. Illustrate with four examples each of investment property and non-investment property.
(12 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Investment Property, IPSAS 16, property management, Public Sector Accounting
Level: Level 2

Topic: International public sector accounting standards
Series: NOV 2018

PSAF – May 2020 – L1 – Q1b – Public expenditure and financial accountability framework

Explain the functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003 (Act 658).

Question

Explain TWO (2) functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003, (Act 658).

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Agency, Functions, Internal Audit, Public Sector Accounting
Level: Level 2

Topic: Public expenditure and financial accountability framework
Series: MAY 2020

PSAF – May 2020 – L1 – Q1a – Accounting policies for cash and accrual-based accounting systems

Discusses the differences between cash accounting policies and accrual accounting policies concerning their recognition and treatment in financial statements for various accounting elements.

Question

Cash accounting policies and accrual accounting policies, when applied respectively to the same transaction or events of the same entity, will produce different pictures of the financial performance, position, and cash flow information of the entity. Thus, the choice of alternative policies needs to be given much consideration. The International Public Sector Accounting Standards Board (IPSASB) permits the use of cash accounting policies whilst encouraging the application of accrual accounting policies in the preparation of financial reports for the public sector.

Required:
Discuss the difference between cash accounting policies and accrual accounting policies in terms of recognition and/or treatment of the following in the Financial Statements: i) Revenue
ii) Capital asset
iii) Allowances and provisions
iv) Contingent liability

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accrual Accounting, Cash Accounting, Financial Statements, IPSAS, Public Sector Accounting
Level: Level 2

Topic: Accounting policies for cash and accrual-based accounting systems
Series: MAY 2020

PSAF – May 2018 – L2 – Q4 – Preparation and presentation of financial statements for central government

Prepare the Statement of Revenue and Expenditure and the Statement of Financial Position for the Consolidated Fund for the year ended 31 December 2017.

Question

The following are the balances extracted from the Consolidated Fund of Public Accounts for the year ended 31st December 2017:

Description	Amount (GH¢ ‘000)
Consumption of fixed Capital	208,878
Miscellaneous Direct Taxes	98,238
Social Security Benefit in Kind	66,120
13.5% SSF Contribution	45,000
Project Grant	9,370
Fines, Penalties and Forfeitures	25,928
Materials and Office Consumables	117,526
General Taxes on Goods & Services	265,064
Travel & Transport	41,610
Social Assistance Benefits	68,678
Established Post- salaries	800,800
Domestic Debt Interest	40,200
Gratuity	20,000
Training, Seminar and Conference Cost	54,250
External Debt Interest	83,772
Allowances to Employees	56,000
Repairs and Maintenance	34,560
Property Income	25,000
Cash & Bank Balances	1,960,898
Advances & Receivables	60,164
Taxes on Exports	581,588
Long Term Receivables	2,836,616
Non-Established Post-salaries	400,104
Payables	1,211,044
Accumulated Surpluses (1/1/2017)	(61,343,676)
Deposit and Other Trust Monies	3,752,412
Short-Term Borrowing	11,299,822
Taxes paid by individuals	810,436
Subsidy on Petroleum Products	15,000
Fertilizer Subsidies	24,068
Equity Investment	3,619,752
End of Service Benefit	25,880
Infrastructure, Plant & Equipment	2,028,806
Taxes paid by Companies & Enterprises	135,784
Work-In-Progress	304,880
Domestic Debt	23,719,588
External Debt	32,283,148
Employer Social Benefits in Cash	30,500
Other Expenses (note i)	22,584
Excise Duties	92,900

Additional Notes:
i) Other Expenses:
During the year, the Government of Ghana benefited from free services provided by medical experts who were task forces of the British Government. The main objective of this task force was to help curb cholera in the country. The fair value of these services amounted to GH¢ 18,740,000. It is the policy of the Government to include goods and services received during the year in kind in its financial statements at fair values.

ii) The annual estimates for the year ending 2017 were as follows:

Required:
a) Prepare a Statement of Revenue and Expenditure of the Consolidated Fund for the year ended December 31, 2017, indicating the accompanying variances to the statement.

b) Prepare a Statement of Financial Position of the Consolidated Fund as of December 31, 2017.

Answer

Find Related Questions by Tags, levels, etc.

Topic: Preparation and presentation of financial statements for central government
Series: MAY 2018

PSAF – May 2018 – L2 – Q1d – Accounting policies for cash and accrual-based accounting systems

Contrast cash basis and accrual basis of accounting in terms of revenue recognition, expenditure recognition, non-financial asset disclosure, and depreciation.

Question

There are two main bases of accounting in the public sector, and these are cash basis and accrual basis. These two bases differ in many respects, though there are some similarities.

Required:
Contrast cash basis and accrual basis of accounting in the public sector in terms of:
i) Recognition of revenue
ii) Recognition of expenditure
iii) Disclosure of non-financial assets
iv) Notion of depreciation

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accrual Basis, Cash Basis, Expenditure Recognition, Public Sector Accounting, Revenue Recognition
Level: Level 2

Topic: Accounting policies for cash and accrual-based accounting systems
Series: MAY 2018

Question Tag: Public Sector Accounting

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

PSAF – May 2023 – L1 – SA – Q2 – Regulatory and Institutional Framework

Objectives and contents of Local Government Financial Memoranda and journal entries for Bureau transactions.

PSAF – May 2023 – L2 – SA – Q1 – Public Sector Financial Statements

Prepare statements for government performance and financial position, including adjustments and depreciation calculations.

PSAF – Nov 2015 – L2 – Q4 – Public Sector Financial Statements

Prepare the financial statements of Egbin Electricity Board for 2014, including statement of financial performance and position.

PSAF – May 2024 – L2 – SB – Q3 – Financial Reporting and Accountability in the Public Sector

Preparation of a bank reconciliation statement and discussion of challenges in e-payment.

PSAF – May 2024 – L2 – SA – Q1 – The Budgeting Process in the Public Secto

Cash budget preparation and analysis of budgeting systems.

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.

PSAF – Nov 2019 – L2 – Q1 – Public Sector Financial Statements

Prepare financial statements and journal entries for Ogogo Local Government based on trial balance and transactions provided, and identify external controls and challenges.

PSAF – Nov 2021 – L2 – Q3a – Government Accounting Concepts and Principles

Discuss observations and features of a good public sector accounting system in developing countries.

PSAF – Nov 2018 – L2 – Q2 – International Public Sector Accounting Standards (IPSAS)

Discuss reasons for holding investment properties and IPSAS 16 measurement methods, providing examples of investment and non-investment properties.

PSAF – May 2020 – L1 – Q1b – Public expenditure and financial accountability framework

Explain the functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003 (Act 658).

PSAF – May 2020 – L1 – Q1a – Accounting policies for cash and accrual-based accounting systems

Discusses the differences between cash accounting policies and accrual accounting policies concerning their recognition and treatment in financial statements for various accounting elements.

PSAF – May 2018 – L2 – Q4 – Preparation and presentation of financial statements for central government

Prepare the Statement of Revenue and Expenditure and the Statement of Financial Position for the Consolidated Fund for the year ended 31 December 2017.

PSAF – May 2018 – L2 – Q1d – Accounting policies for cash and accrual-based accounting systems

Contrast cash basis and accrual basis of accounting in terms of revenue recognition, expenditure recognition, non-financial asset disclosure, and depreciation.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Public Sector Accounting

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management

Details provisions and penalties under Financial Regulations to prevent and address delays in contract payments.

You're reporting an error for "PSAF – Nov 2023 – L2 – Q3c – Public Procurement and Contract Management"

PSAF – May 2023 – L1 – SA – Q2 – Regulatory and Institutional Framework

Objectives and contents of Local Government Financial Memoranda and journal entries for Bureau transactions.

You're reporting an error for "PSAF – May 2023 – L1 – SA – Q2 – Regulatory and Institutional Framework"

PSAF – May 2023 – L2 – SA – Q1 – Public Sector Financial Statements

Prepare statements for government performance and financial position, including adjustments and depreciation calculations.

You're reporting an error for "PSAF – May 2023 – L2 – SA – Q1 – Public Sector Financial Statements"

PSAF – Nov 2015 – L2 – Q4 – Public Sector Financial Statements

Prepare the financial statements of Egbin Electricity Board for 2014, including statement of financial performance and position.

You're reporting an error for "PSAF – Nov 2015 – L2 – Q4 – Public Sector Financial Statements"

PSAF – May 2024 – L2 – SB – Q3 – Financial Reporting and Accountability in the Public Sector

Preparation of a bank reconciliation statement and discussion of challenges in e-payment.

You're reporting an error for "PSAF – May 2024 – L2 – SB – Q3 – Financial Reporting and Accountability in the Public Sector"

PSAF – May 2024 – L2 – SA – Q1 – The Budgeting Process in the Public Secto

Cash budget preparation and analysis of budgeting systems.

You're reporting an error for "PSAF – May 2024 – L2 – SA – Q1 – The Budgeting Process in the Public Secto"

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.

You're reporting an error for "PSA&F – Nov 2019 – L2 – Q5a – Financial Reporting and Accountability in the Public Sector"

PSAF – Nov 2019 – L2 – Q1 – Public Sector Financial Statements

Prepare financial statements and journal entries for Ogogo Local Government based on trial balance and transactions provided, and identify external controls and challenges.

You're reporting an error for "PSAF – Nov 2019 – L2 – Q1 – Public Sector Financial Statements"

PSAF – Nov 2021 – L2 – Q3a – Government Accounting Concepts and Principles

Discuss observations and features of a good public sector accounting system in developing countries.

You're reporting an error for "PSAF – Nov 2021 – L2 – Q3a – Government Accounting Concepts and Principles"

PSAF – Nov 2018 – L2 – Q2 – International Public Sector Accounting Standards (IPSAS)

Discuss reasons for holding investment properties and IPSAS 16 measurement methods, providing examples of investment and non-investment properties.

You're reporting an error for "PSAF – Nov 2018 – L2 – Q2 – International Public Sector Accounting Standards (IPSAS)"

PSAF – May 2020 – L1 – Q1b – Public expenditure and financial accountability framework

Explain the functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003 (Act 658).

You're reporting an error for "PSAF – May 2020 – L1 – Q1b – Public expenditure and financial accountability framework"

PSAF – May 2020 – L1 – Q1a – Accounting policies for cash and accrual-based accounting systems

Discusses the differences between cash accounting policies and accrual accounting policies concerning their recognition and treatment in financial statements for various accounting elements.

You're reporting an error for "PSAF – May 2020 – L1 – Q1a – Accounting policies for cash and accrual-based accounting systems"

PSAF – May 2018 – L2 – Q4 – Preparation and presentation of financial statements for central government

Prepare the Statement of Revenue and Expenditure and the Statement of Financial Position for the Consolidated Fund for the year ended 31 December 2017.

You're reporting an error for "PSAF – May 2018 – L2 – Q4 – Preparation and presentation of financial statements for central government"

PSAF – May 2018 – L2 – Q1d – Accounting policies for cash and accrual-based accounting systems

Contrast cash basis and accrual basis of accounting in terms of revenue recognition, expenditure recognition, non-financial asset disclosure, and depreciation.

You're reporting an error for "PSAF – May 2018 – L2 – Q1d – Accounting policies for cash and accrual-based accounting systems"

Our offerings

Contact Info

Customer

Get In Touch

admin