Public Sector Accounting - The Nigerian Experience

摘要

Public Sector Accounting is used by “all organizations which are not privately owned and operated, but which are established, run and financed by the Government on behalf of the public.” Public sector consists of organizations where control lies in the hand of the public, as opposed to private owners, and whose objectives involves the provision of services, where profit is not a primary objective. R.A Adams (2004) in his book “Public Sector Accounting and Finance made Simple” defines Public Sector Accounting as “a process of recording, communicating, summarizing, analyzing and interpreting Government financial statements and statistics in aggregate and details; it is concerned with the receipts, custody and disbursement and rendering of stewardship on public funds entrusted.