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Unit Code: ACC606

Unit Name: Public Sector Accounting

Description: Public accountability was traditionally the primeval wisdom that formed the basis of public sector accounting and financial reporting in most Western countries. The system of accounting that was designed to serve this purpose was known as the fund system, where each activity constituted a ?fund? or a ?reporting entity?. Following fundamental reforms over the preceding half century this system of accounting has generally been replaced with the commercial accounting model focusing on financial performance alone. The mismatch between the service objective of the public sector and profit objective of the private sector has been described as a ?square peg in a round hole?. This Courseattempts to address ideological, economic and social implications of the reforms and their consequences for public accountability.

Learning Target Outcomes:

Prerequisite: ACC501

Prerequisite Sentence: N/A

Credit Point: 15

Offered In: Semester 2