similarities between public sector accounting and private sector accounting

SECTION B ANSWER ALL QUESTIONS (35 MARKS) 1. Explain the concept of Public Sector accounting outlining the processes of recording, analyzing, classifying, summarizing, communicating and interpreting financial information in relation to government. (15 marks) 2. Enumerate any 10 objectives of public sector accounting (10 marks) 3. (a) Identify 4 similarities between public sector accounting and private sector accounting. (b) Identify 6 differences between public sector accounting and private sector accounting. (10 marks)