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Public Sector Accounting Overview

video lesson SS3 · Financial Accounting · 18:29

This lesson covers the definition of public sector accounting and its importance. It explains the sources of government revenue and classifies expenditures into capital and recurrent. Key concepts and terms related to public sector accounting are also discussed.

  • 14:07 “and it's also a source of revenue. Investments and dividends in corporations. The government of a country might decide to invest in organizations. And so when this is done, any form of investment that comes or dividends...”
  • 14:52 “and we have said the sources of revenues are direct and indirect taxes, mining and fees. Now for the state governments, what are the major sources of revenue? One is the statutory allocation. What do we mean by statutory...”
  • 03:58 “Another importance of government accounting is that it's to show the various sources of government's revenue. Like has been said earlier, we want to know how much comes into the account of the government. What are the so...”
public sector accounting government revenue expenditure classification government revenue accounting income sector