What you will learn

The module on  Public Sector Accounting and Financial Reporting will address the following topics:

• the role of accounting and the users of accounts,
• fund accounting and financial reporting,
• double entry bookkeeping,
• capital and revenue in public organizations,
• journals and suspense accounts, 
• the role of national and international standards.

Once participants will have completed this module, they will be able to:

• describe the role of accounting, including fund accounting, and financial reporting in a public sector organisation
• state the basic accounting concepts that underpin the production of accounting information
• describe the accounting treatment of non-current assets and depreciation, and distinguish between capital and current expenditure and income
• describe the use of journal entries, the use of suspense accounts and the correction of errors, the role of control accounts
• describe the form and purpose of the primary financial statements
• explain the role of the Chart of Accounts (CoA) in accounting systems, and the structure of an illustrative CoA
• describe Systems of National Accounts (SNA) and General Finance Statistics (GFS) and their relationship with financial accounting
• describe the role of accounting standards, and the standards setting bodies

Faculty 

This learning initiative will be delivered under the guidance of Zdenka Vidovič and Metka Sedej.

Partners

This learning initiative is financially supported by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and is being delivered as part of the Strengthening of the Internal Audit Function in Georgia project.