Question: PUBLIC SECTOR ACCOUNTING (20 marks) Accountability is a complex concept (Gray & Jenkins, 1993). For the public sector, accountability is categorized into three main ones

PUBLIC SECTOR ACCOUNTING

(20 marks)

Accountability is a complex concept (Gray & Jenkins, 1993). For the public sector, accountability is categorized into three main ones namely financial accountability, management accountability and program accountability.

Explain the concept of accountability in general and each category of accountability in the context of the public sector. For accountability purposes, discuss how the accrual basis financial statements of a public sector entity are used to achieve that purpose.

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