Objectives of Public Sector Accounting

Compliance with statutes and accepted norms

Rendering stewardship transparently and diligently for entrusted resources

By mapping out strategic plans to prevent or reduce corporate failure

<p>Mandate theory</p> Signup and view all the answers

<p>Control measures</p> Signup and view all the answers

<p>To avoid unnecessary deviations from the pursuit of original objectives</p> Signup and view all the answers

<p>They are anxious to bridge their knowledge gaps on government activities.</p> Signup and view all the answers

<p>Prompt and accurate statistics to evaluate government performance.</p> Signup and view all the answers

<p>It is difficult to measure costs and benefits in financial terms due to the nature of public sector activities.</p> Signup and view all the answers

<p>The economic and social advantages (benefits) and disadvantages or inconveniences (costs) of alternative courses of actions.</p> Signup and view all the answers

<p>It ensures that the welfare of the citizens is well provided for.</p> Signup and view all the answers

<p>Enhancing the appraisal of the efficiency of management, highlighting revenue and expenditure, identifying funding sources for capital projects, evaluating economy, efficiency, and effectiveness, ensuring equivalent benefits for costs, providing details of long-term commitments and financial obligations, comparing actual performance with set targets, and proffering solutions to bottlenecks or problems identified.</p> Signup and view all the answers

<p>Decision-making.</p> Signup and view all the answers

<p>Their knowledge gaps on government activities.</p> Signup and view all the answers

<p>Costs and benefits.</p> Signup and view all the answers

<p>The economic and social advantages and disadvantages of alternative courses of actions.</p> Signup and view all the answers