Accounting in Public Sector

Public sector accounting and financial reporting standards and other legislations of public sector were analysed by studying this subject. It discusses the principles and method of accounting required for designing the accounting policy of public sector entities and managing financial accounting. The aim of course is to provide skills how properly and correctly evaluate, analyse, group and record transactions and events of public sector entities'; to be able to analyse financial statements of public sector entities. The method of study are interpretation, discussion, practical tasks, case study, questions and answers. After completing this course, students will be able to identify the accounting problems of public sector entities, to propose rational solutions, to express their point of view reasonably and work in a team.

To provide knowledge and skills for students how to apply principles of accounting, how to formulate and adjust accounting policies according public sector accounting and financial reporting standards; properly and correctly evaluate, analyse, group and record transactions and events of public sector entities'; to identify and analyse differences of accounting and accountability between public sector and business enterprises; to be able to analyse financial statements of public sector entities.

Mathematics, Accounting Basics and Financial Accounting courses.

1. Public sector entities, the specificity of public sector accounting financial reporting standards and other legislations for design of accounting policy. 2. Fund accounting 3. Tangible assets accounting. 4. Intangible assets accounting. 5. Inventory accounting 6. Financial assets accounting 7. Biological assets accounting 8. Prepayments and receivables accounting 9. Liabilities accounting 10. Revenue and expenses accounting 11. The employment-related benefits accounting 12. Accounting of provisions, contingent assets and contingent liabilities 13. Preparation of financial statements.

1. Identified principles and methods of accounting needed for accounting policies formation in the public sector entities. 2. Defined the principles and methods of organization and management of financial accounting in public sector entities, the transactions and events of public sector entities are evaluated, grouped and recorded. 3. Determined differences in accounting principles and methods between business accounting and public sector accounting and financial reporting standards. 4. Defined principles of financial accounting organization and preparation of financial statements in the public sector entities. 5. Defined forms of presentation of accounting information of public sector entities to users. 6. Done the analysis of financial statements of public sector entities.