Differentiate between public and private sector

Assignment Help Financial Accounting

Reference no: EM133560972

QUESTION 1

With appropriate examples, briefly explain the main features of a Public Sector Entity
i. Briefly explain the terms "Public Sector Accounting " and " Public Financial Management "
ii. Explain the key principles that underpin a sound Public Financial Management, giving an appropriate example in each case.

QUESTION 2

A. Briefly explain the essential matters / conditions that are necessary for a sound Public Financial Management that would achieve the desirable results of Public Expenditure.

B i. Differentiate between Public and Private sector Accounting, giving an appropriate example in each case.

ii. Explain the importance of Legal Framework and Institutional Framework in ensuring the effective and efficient Public Financial Management

QUESTION 3

i. From the Public Sector (Government) perspective, the successful budget formulation process largely depend on addressing four ( 4 ) key issues . Briefly explain each of these issues, giving an appropriate example in each case
ii. Explain the key issues that are addressed in the Top - down and Bottom -up Planning and Budgeting process in Zambia.

From the Zambian Government (GRZ) perspective , the Budget formulation process is coordinated by the Ministry of Finance (MOF ) . Briefly explain the Five ( 5 ) main stages that are involved in this process.

Reference no: EM133560972

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