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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Accountability in General Accountability refers to the obligation of individuals organizations or institutions to accept responsibility for their actions decisions and the outcomes thereof It encompas... View full answer

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