Question 1:
(a) “Public sector financial management is based upon the set of principles “. You’re required to recognize and illustrate out those principles.
Question 2:
In view of inherent weaknesses of using cash based accounting, some countries have adopted accrual accounting.
(a) What are the demerits of using cash based accounting?
(b) Comment on the issues which need to be addressed in adoption of accrual accounting.
Question 3:
(a) What do you understand by the following phrases?
(i) Line item or incremental Budgeting
(ii) Zero based budgeting
(b) You are required to comments on disadvantages and advantages of each system.
Question 4:
With a view to ensure fiscal discipline and the effective use of resources, many governments are now adopting the Medium Term Expenditure Framework (MTEF).
(a) Discuss and illustrate out the main components in a Medium Term Expenditure Framework?
(b) You are required to recognize and comment on the advantages of adopting Medium Term Expenditure Framework.
Question 5:
The Constitution provides for post of Director of Audit while the Finance and Audit Act (1973) provides for the power and duties of Director of Audit. You’re required to demonstrate your understanding of the provisions of Constitution and the Finance and Audit Act (1973) with respect to the Office of the Director of Audit.