1) The stewardship and accountability objectives of financial
reporting means that:
Select one:
a. the objective of general purpose financial reports is to
provide information that is useful to capital providers.
b. general purpose financial reports support stewardship
function in entities where there is no
separation of ownership from control.
c. the objective of general purpose financial reports is to
provide information to users that is useful for making decisions
about allocation of scarce resources.
d. managers use general purpose...
Although, accountability in public administration is different from
accountability in the private sector, yet, an increasing number of
public services are being contracted to private sector
organizations. What are the advantages and disadvantages of
awarding public sector services to private sector organizations,
instead of allowing public agencies to perform them?
a)
Explain what accountability means for an organisation in
relation
to legitimacy.
•
b) Can accountability be achieved in a critical theory
framework?
•
c) Explain the idea of a ‘social contract’ and its relationship
to the
legitimacy discussion and sustainability reporting.
•
d) Can accountability be linked to stakeholder theory (and
stakeholder
engagement)
Do you agree with the proposition that decentralisation
increases public sector
accountability? Explain your answer. Please try to answer in 1000
words.
‘accountability’ in financial report
1. In the context of public sector, whether the objective of
financial reporting should focus more on 'accountability' that
compared to 'decision making' ?
2. What are the information in public sector financial reports
need to be provided to to the users?
One
main difference between public sector entities and private sector
entities is that their objectives are different. The objectives of
the public sector entity is to deliver public goods and services to
all citizens in order to maximize their welfare. However, the
principal object of the private entity is to make profit on the
goods and services they produce and sell in the market.
Required:
Explain SIX (6) reasons why these differences are important
TOPIC: MANAGEMENT ACCOUNTING IN PUBLIC SECTOR
Explain the rational for the administrative changes in
budget examination and review from yearly basis to once in every
two years basis