The users of public sector accounting consisted of two types namely: (i) internal and (ii) external. 

Explain both users in the context of public sector accounting in Malaysia.

(b) Differentiate between revenue derive from exchange and non-exchange transaction. 

(c) Discuss the components presented in the Statement of Financial position (cash basis or accrual basis).

 

The public sector consists of central government departments, state departments, local authorities, statutory bodies and government owned/controlled companies. Some of these agencies are service oriented whilst others are commercially oriented. The range of activities in the public sector is as wide ranging as that in the private sector. However, they differ from private sector business enterprises as with regards to both objectives and financing.