Public Sector Accounting

Where the marks are

Percentages are the examinable weighting for each area. Revising in this order puts your time where the marks are.

1. Public sector accounting and financial reporting

   45%

   Public sector accounting processes, cash books, transcripts and vouchers · Educational institution accounts: domestic and boarding · Stores and inventories classification and accounting procedures · Board of survey and board of enquiry · Managing the finances of government and the government committees · Interpretation of public sector financial statements · Methods of project appraisal in the public sector · FAAC, SJLAAC and RMAFC · Types of revenue and the revenue collection agencies · Revenue and charges to the Consolidated Revenue Fund · Statutory financial statements under cash basis IPSAS · Statutory financial statements under accrual basis IPSAS · IPSAS 33 First-time Adoption of Accrual Basis IPSAS · Books of account and registers under accrual IPSAS · Government Business Entities

2. Planning and budgeting in public sector

   20%

   Objectives and uses of the annual budget in the public sector · Types of budget and budgeting systems · Stages in the budget cycle and budgetary control · Expenditure control in government · Vote book, fund accounting and revenue control procedures · IPSAS 24 Presentation of Budget Information in Financial Statements

3. Public sector accounting framework and concepts

   15%

   Constitutional, legal and administrative framework of public sector accounting (Nigeria) · Nature of accounting units · The Fiscal Responsibility Act, 2007 and the medium-term expenditure framework · The Public Procurement Act, 2007 · Constitutional and legal framework of government accounting (Ghana) · Public sector accounting theory, concepts, bases and the fund concept · Pensions: the Armed Forces Pension Act and the Pension Reform Act, 2014 · Professional pronouncements and international and local standard-setting bodies · Reporting formats, appropriation Acts, treasury circulars and public service rules · Constitutional and financial responsibilities of principal officers of government

4. Emerging issues and ethical considerations in public sector accounting

   10%

   Government Integrated Financial Management Information System (GIFMIS) · Code of Conduct Tribunal · Public Complaints Commission · Money Laundering Act 2007 · The courts in managing economic crimes · Integrated Payroll and Personnel Information System (IPPIS) · University Transparency and Accountability Solution (UTAS) · Treasury Single Account (TSA) and the roles of service providers · Accounting Transaction Recording and Reporting System (ATRRS) · Open Treasury Portal (OTP) · Economic and Financial Crimes Commission (EFCC) · Independent Corrupt Practices and Other Related Offences Commission (ICPC) · Code of Conduct Bureau

5. Public sector audit

   10%

   Legal requirements for public sector audit and the roles of the Accountant-General and Auditor-General · Appointment and removal of the Auditor-General · The process of auditing public sector financial statements · Roles of the legislature in financial management and control

Where candidates lose this paper

The Institute publishes its own past questions. What it cannot give you is an answer to these.

There is not enough time to read the whole study text before the diet.

The official study text condensed and reorganised by examinable weighting, with every claim cited back to the page it came from — so you can check anything you doubt in one click.

You write practice answers for months and never find out whether a single one would have scored.

Write by hand, photograph it, and have it marked against the examiner's own marking guide — with the marks broken down the way the examiner breaks them down, and the reason for each one.

The study text is hundreds of pages and none of it tells you which parts the examiner actually asks about.

Every syllabus topic, ordered by the share of marks it carries, so your revision time follows the marks instead of the page count.

You know the answer but lose marks anyway, and no one ever explains where they went.

The Institute's published solution beside your attempt, with the mark allocation visible — so you can see the marks sitting in the principle and the application, not only the final figure.