UNIVERSITY OF GHANA (All rights reserved)
DEPARTMENT OF ACCOUNTING UNIVERSITY OF GHANA BUSINESS SCHOOL
SECOND SEMESTER 2017/2018 ACADEMIC YEAR COURSE SYLLABUS
ACCT 402: PUBLIC SECTOR ACCOUNTING 3 Credits
Course Instructor(s):
Name: Samuel N. Y. Simpson (PhD) William Atuilik (PhD)
Office Locations: Main Block, G5
Office Hours: Wednesday, 1:30 pm -3pm Friday, 1:30-3pm
E-mail: [email protected]/[email protected] [email protected]
Teaching Assistant:
Name: Mohammed Abdulai
E-mail: [email protected] Course Overview
This course exposes students to concepts and principles underlying financial management; budgeting, accounting and reporting, procurement, and auditing in the Public sector-central, local and NGOs. It focuses on both conventional and contemporary financial management practices within the public sector environment
Course Objective/Goals:
This course seeks to equip both accounting and non-accounting students with the knowledge and skills necessary for short and long-term financial management decisions in the public sector environment.
Learning Outcomes
Upon successful completion of this course students should be able to: Describe the nature of the public sector and public sector accounting Describe the legal and regulatory environment of the public sector
Discuss and evaluate Public sector budgeting and the developments over the years Outline the elements of Public Procurement
Prepare the financial statements of the central government (Public Accounts)
Outline and discuss the main performance measures and management tool used in evaluating performance in the public sector.
Describe the Nature, financing and accountability issues in the local government administration of Ghana
Describe the Nature, Types and financial statement of NGOs/NFPOs, etc. Identify and describe the types of auditing in the public sector
Course Delivery
The course will be delivered through lectures and guest lectures. Also, combination of problem-solving and case study methodologies is used
to illustrate theories and techniques helpful in financial analysis and planning Assessment and Grading
Quizzes (three in the semester) 15%
Assignments 10%
Class Participation 5%
Final Exam 70%
Plagiarism policy
Plagiarism in any form is unacceptable and shall be treated as a serious offence. Appropriate sanctions, as stipulated in the Plagiarism Policy, will be applied when students are found to have violated the Plagiarism policy. The policy is available at http://www.ug.edu.gh/aqau/policies-guidelines.
ALL students are expected to familiarize themselves with the contents of the Policy. Grading Scale
Students are expected to familiarize themselves with grading scale and
all academic policies that apply to them. Refer to Undergraduate Handbook for details Reading List /Required Text
There is no single textbook for this course. The course is multi-disciplinary, thus draws from accounting, public finance, and other related areas.
Adopted Texts:
Ives M., Johnson, L., Razek, J.R., & Hosch, G (2009). Introduction to Governmental and Not-For-Profit Accounting, 6/e. Upper Saddle River, New Jersey: Prentice Hall, a Pearson
Education Company
Freeman, Shoulders, Allison & Smith (2013). Governmental and Non-profit Accounting: International Edition, 10/e. Upper Saddle River, New Jersey: Prentice Hall, A Pearson Education Company
Other Reading Materials
1992 Constitution of Ghana
Public Financial Management Act, 2016, Act 921 (Repealed: Financial Administration Act 2003, Act 654
Financial Administration Regulation 2004, LI 1802 (FAR) Audit Service Act 2000 Act 584
Internal Audit Agency Act 2003, Act 658
Public Procurement Act 2003 Act 663 and Public Procurement (Amendment) Act, 2016 Act, 914
International Public Sector Accounting Standards Local Government Act 2016, Act
National Pension Act 2008, Act 766
Petroleum Revenue Management Act 2011, Act 815. Other fund specific laws such as:
o District Assembly Common Fund Act 1993 (Act 455) o Ghana Education Trust Fund Act 2000 (Act 581) o Road Fund Act 1997 (Act 536)
o Government of Ghana Budgets Prescribed journal articles on relevant topics Relevant journal articles
Other Information
Class attendance is expected.
Students are encouraged to participate actively in class in regard to analysis and discussion of reading material, lecture material, problems, and cases.
Class time will be devoted to lecture, discussion, and analysis of assigned problems.
Students should complete readings and assigned problems prior to class meetings.. Students should expect to spend substantial amounts of time, in and out of class, to keep up with readings and listening to current affairs. Required resources (including articles) may be distributed in class, or one may be required to find the article.
Sometimes circumstances beyond one’s control requires that they miss a scheduled class. If necessary, it is the student's responsibility to get any missed lecture notes or handouts. If you are unable to make it to class to turn in an assignment, make arrangements with a classmate to turn in your work &/or contact me prior to class. You are responsible for what takes place or is announced in class
Course Delivery Schedule
Week: 1-2: Overview and Scope of the Public Sector and Public Sector Accounting Background and definitions of the public sector and public sector accounting
Objectives
Users and stakeholders of Public sector information Financing arrangements, including PPP and Euro Bond The Regulatory Environment
Overview of the Public Financial Management Act, 2016, Act 921 Week: 3-4: Public Sector Budgeting
Definitions and Purposes of Budgeting in the Public Sector Approaches to Budgeting in the Public Sector
Medium Term Expenditure Framework (MTEF), etc. The process of central government budgeting
Case studies
Week 5: Introduction to Public Procurement Role of procurement and legal framework Procurement roles and responsibilities Procurement principles and ethics
Procurement rules, methods & thresholds Overview of areas of amendment
Week 6-8: Financial Reporting in Public Sector
Forms, bases and techniques of Public Sector Accounting: – Commitment accounting
– Fund accounting – Budgetary accounting Preparation of Public Accounts
Week 9-10: Performance Management in the Public Sector Definitions of concepts and terminologies
Performance measures: Economy, efficiency, effectiveness, Equity
Application of the performance measures to evaluating public programmes Performance management tools/mechanisms: Balanced Scorecard & Performance
Prism
Week 11-12: Local Government Finance and Accounting The Concept of Decentralisation
The structure of the Local government of Ghana Functions of the Assemblies
Development Partners and Central Government representatives at the local levels Financing arrangements, Budgeting and Accounting
o Strategies used by MMDAs in mobilising IGFs o Challenges of IGF mobilisation
The MMDAs External Funding Concept and the Accounting processes o The District Assembly Common Fund (DACF)
o The District Development Fund (DDF) o Social Intervention Fund (SIF)
o Urban Development Grant (UDG) (v) Functional Organisational Assessment Tool (FOAT)
Governance and Reporting issues in the NGO sector
Week 13: Auditing in the public sector: External and Internal Audit
Legislative and regulatory framework of external and internal audit in the public sector
Appointments, powers and responsibilities of auditors Scope of public sector audit
Traditional and modern perspective of auditing Audit models and types of audit works and reports Ethical consideration
The Auditor General and accountability issues
