Public Sector Accounting

Public Sector Accounting, particularly in government accounting, refers to the process by which government entities manage and report their financial information. It involves tracking how public funds are raised, spent, and managed to ensure transparency, accountability, and compliance with laws and regulations. This type of accounting focuses on budgeting, fiscal performance, and the efficient use of taxpayer money, rather than profit generation. Ultimately, it helps citizens understand how their resources are being utilized and supports informed decision-making by government officials.