ABSTRACT

The research work is focused on the comparative study of' accounting practices in the public and private sectors of the economy. The growth of an economy depends on the efficient use of its resources in the two sectors, public and private sector. There have been cases of' inefficiency in the two sectors. This can be attributed to lack of adequate provision of manpower from the both sectors, no solution to technical problems concerned with accounting practices and structural weal< nesses inherent in both sectors. Also in chapter one the hypothesis was coined out. The literature review of the work and the origin of accounting Wa:; traced and elucidated in chapter two. The method of collecting data was mostly through questionnaires which were based on the practices of both sectors (one questionnaire by each sector). The view of the respondents were calculated and analyzed using chi-square hypotheses test and the researcher came to sonic findings that the accounting practices of both sectors are in line with general accepted accounting principles and there was little or not internal control system in the public sector. From the findings, the following recommendations were made; there should be a compact internal control system in public sector establishments to checkmate fraudulent activities of staff and there should be regulator:' harmonization of legislative requirement of accounting practice of both sectors.