why do we study public sector accounting

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What is meant by thePpublic sector? The public sector is the section of an economic system that is run by national, provincial, and local governments. P
Even this changes from country to country. The public sector supports all three arms of government the executive arm (the Government), the legislature (Parliament) and the judiciary (judges of the various courts). along with health care and those working for the government itself, such as elected officials. P Where does a public sector accountant fit in? Public sector accountingPkeeps the government running smoothly.

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These people review financial documentation for the government and its taxpayers. The work they do ranges from the auditing of tax accounts to investigating various government agencies financial accounts for signs of fraudulent activity. It is important to specialise because the objectives for public sector accounting differ significantly from the accounting practice has been developed for in the private sector. Public sector accountants are monitored by The International Public Sector Accounting Standards Board, known also by the acronym of IPSASB. IPSASB is responsible for developing the standards in accounting for entities in the public sector worldwide.

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P What are the duties of a public sector accountant? conducting internal audits, e. g. working on wage reviews managing and training staff, when employed at a senior level Public Sector Accounting is particularly relevant in the context of New Public Management because it is the most important approach for recording and reporting management acts, helping public managers to achieve their objectives regarding internal and external reporting for accountability purposes.

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This study main objective is to evaluate the usefulness of accounting information as well as the findings of non-compliance in the opinions of audits conducted by Internal Control System in explaining the quality of 51 Brazilian Federal Universities, using data from the General Index of Courses published in 2007. The findings demonstrate that accounting information of the Brazilian Federal Universities, particularly current expenses and operating assets are significant to explain the quality index reached by the HEIs, endorsing the relevance of accounting to accountability, considering the diverse stakeholders.

The evidence also reveals that qualifications in audit opinions are not relevant to explain the universities performance. The findings may assist as criteria for formulating public policies on resource allocation in education, and also contribute to improve auditing systems in the Internal and External Control of the Education Sector.

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