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  1. Public sector accounting
  2. Sources of government revenue
  3. Capital expenditures
  4. Recurrent expenditures
  5. Head and sub-heads
  6. Capital and revenue account


Public sector can be defined as the government sector whose affairs or services are made known to the public (people in general) in aggregate and in detail reflecting all transactions involving the receipt, transfer and disposition of its fund and properties.

Public sector accounting can also be defined as the process of recording, analyzing and interpreting the financial transactions of the government.

Government accounting shows the receipts and disbursement of public funds in all levels of government. This is governed by the constitution of the Federal Republic of Nigeria 1979 as amended in 1989.


  1. To serve as a basis for decision making
  2. To depict the source of government revenue
  3. To serve as a basis for appraisal of the performance of management.

Lesson tags: Financial Accounting Lesson Notes, Financial Accounting Objective Questions, SS3 Financial Accounting, SS3 Financial Accounting Evaluation Questions, SS3 Financial Accounting Evaluation Questions First Term, SS3 Financial Accounting First Term, SS3 Financial Accounting Objective Questions, SS3 Financial Accounting Objective Questions First Term
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