(a) i. Books of accounts used in public sector accounting - These include:
- Cash book
- Imprest cash book
- Register of vouchers
- Vote book
- Expenditure ledger/Vote service ledger
- Salary abstract
- Payment voucher
- Receipt voucher Adjustment voucher
- Stores issue voucher
- Stores receipt voucher
- Stock register for value books
- Revenue collectors' cash book
- Revenue and Expenditure Accounts
ii. Users of public sector accounting information. These include;
- Students/researchers/teachers
- Legislators/Parliament/national assembly
- Central/Federal Government agencies e.g. Tax authorities, Statistical services, Ministry of finance: Central bank, etc.
- Accountants
- Investors
- Trade unions
- Financial analysts
- Financial institutions
- Auditors
- Suppliers
- Foreign lenders
- General public/employees
- Non-governmental organizations
- Civil society organizations
- Foreign governments
- International organizations, e.g. World Bank, IME IFC, etc
- Local Government/District Assemblies
(b) Differences between -

Public sector accounting	Private sector accounting
The objective is to ascertain the efficiency of the collection and use of public funds	The objective is to ascertain the profitability or otherwise of the business.
Does not adopt the matching concept. Here, expenditure is compared with the fund voted for that activity or sector	Adopts the matching concept of accounting whereexpenses are compared with the associated income
Accounts mainly prepared are the Revenue andExpenditure Accounts and the Statement of Assets and Liabilities (i.e. Statement of Financial Position)	Accounts prepared are the Statement of ComprehensiveIncome (Profit and Loss Account) and the Statement ofFinancial Position (Balance sheet)
The cost of fixed assets is written off immediately after purchase	The cost of fixed assets is spread over the useful life of the asset.
Uses the fund and vote system of accounting	Uses entity or proprietorship system of accounting.
Tangible fixed assets are not recorded separately and shown in the Balance Sheet	Tangible fixed assets must be shown in the Balance Sheet together with the aggregate depreciation and net book value to date
Accounts are prepared for the general public	Accounts are prepared for owners/shareholders and other stakeholders
The preparation and presentation of accounts are regulated by the Constitution of the country as well as the relevant Financial Administration Acts and Regulations of that country	The preparation of accounts is regulated by Company's code other Acts related to that specific business and International Accounting Standards.
There is no distinction between capital and revenue	There is a clear distinction between capital and revenueexpenditure and income.
Accounts are mainly prepared on a cash basis ofaccounting	Accounts are prepared on an accrual basis of accounting.