Public Sector Financial Reporting

Public Sector Financial Reporting refers to the way government entities, like local or national agencies, disclose their financial activities and status to the public. This includes detailing income, expenditures, and overall financial health through reports and budgets. The goal is to ensure transparency and accountability, allowing citizens to understand how public funds are used. Unlike private sector reports, public sector reporting often focuses on serving the community's needs rather than generating profit. This information can help citizens, policymakers, and stakeholders make informed decisions about public services and resource allocation.