AN EMPIRICAL EVALUATION OF IPSAS ON PUBLIC SECTOR FINANCIAL MANAGEMENT IN NIGERIA


  • Department: Accounting
  • Project ID: ACC2009
  • Access Fee: ₦5,000
  • Pages: 76 Pages
  • Reference: YES
  • Format: Microsoft Word
  • Views: 1,147
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Over the years, countries of the world have defined and set

the standards of financial reporting in their individual territories. However,

globalization has brought about ever increasing collaboration, international

trade and commerce among the countries of the world; hence, there is grave need

for increased uniformity in the standards guiding financial statements so that

such statement would remain comprehensible and convene the same information to

users across the world. The need for the development of unified accounting

standards has been the primary driver of international public sector Accounting

Standards for public sector financial reporting. While the commercial entities

across the world are moving toward international financial Reporting standards

(IFRS), governments are harmonizing with International Public sector Accounting

Standards (IPSAS). The international Public sector Accounting Standards govern

the accounting by public sector entities, with the exception of Government

Business Enterprises.

Looking at the previous

years, cash basis of accounting is observed to be the commonly used basis in

the public sector which has some limitations and setbacks that affects

financial transactions such as poor budget implementation, mismanagement of

public fund etc. This can be traced to the fact that while using the cash basis

of accounting, there is no attempt to match an expense with the revenue it

generates. This means that income statement and balance sheet are not good

pictures of recent business conditions and an expense written against specific

revenue may not have been incurred for generating the revenue.
the objectives if this study are to examines the effect of

adopting International Public Sector Accounting Standards (IPSAS) in Government

agencies and ministries and to i
dentify the challenges of

migrating to Accrual Basis IPSAS in public sector. 
This study would increase level of confidence and improved

decision-making and in government financial reporting by emphasizing on

disclosures and presentations of information relevant to the key stakeholders

in Government financial reporting.

This study focused on the empirical evaluation of IPSAS on

public sector financial management in Nigeria with particular reference to
Federal University Oye Ekiti .The study made use of only Accountants and In this

public institutions.

  • Department: Accounting
  • Project ID: ACC2009
  • Access Fee: ₦5,000
  • Pages: 76 Pages
  • Reference: YES
  • Format: Microsoft Word
  • Views: 1,147
Get this Project Materials
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