Management Accounting and Public

Sector’’
BANGLADESH UNIVERSITY OF PROFESSIONALS
TERM PAPER
Course Title: Management Accounting
Course Code: ACT 4101
Semester: 4th Year 1st Semester

PREPARED BY
KAZI NAHID HASAN TUSHAR, ID: 18211056
MD. FAHIM FAYSAL, ID: 18211060
MD MOHAIMINUL ISLAM MOMIN, ID: 18211070
ASHRAFUL KARIM FAYSAL, ID: 18211086
TASNIMA KHATUN DINA, ID: 18211106

Group No: 08
Section: B, Batch: 2018
Department of Accounting and Information System

PREPARED FOR
ASIA KHATUN
Assistant Professor
Department of Accounting and Information System
Faculty of Business Administration
Bangladesh University of Professionals (BUP)

SUBMISSION DATE: June 15, 2021

LETTER OF TRANSMITTAL
15.6.2021
Asia Khatun
Assistant Professor
Bangladesh University of Professionals
Mirpur Cantonment, Dhaka

Subject: Submission of research paper on “Management Accounting and Public Sector”.

Greetings,

Here is the term paper that we were assigned on this topic as per your request. The paper has
been completed by the knowledge that we have gathered from this course. We tried to follow the
guidelines that you have provided us with in the preparation of the report. We are thankful to you
and to all those people who had co-operated us in the process of preparing the paper. We would
be glad if you read the report carefully. We will try to answer all the questions that you have
regarding the assignment from our best knowledge.

We have tried to complete this assignment meaningfully and as correctly as possible with our
full potential. We do believe that our tiresome effort will help you to get ahead with this sort of
venture. In this case it will be meaningful to us.

Thanking you.

Yours obediently,

Group No: 8
Kazi Nahid Hasan Tushar, Id: 18211056
Md. Fahim Faysal, Id: 18211060
Md Mohaiminul Islam Momin, Id: 18211070
Ashraful Karim Faysal, Id: 18211086
Tasnima Khatun Dina, Id: 18211106
ACKNOWLEDGEMENT
Firstly, we would like to thank the Almighty who created us and provided us with the wisdom
required for working in this term paper and completing this task in given time. Even though, we
faced some difficulties but we still managed to complete it and we are so glad about it.

We feel immense pleasure in presenting to your good self, the term paper as a part of our course
requirement. We found this report to be truly challenging in many aspects, indeed very
interesting. Writing this term paper itself was truly comprehensive learning experience. We have
completed the term paper by the knowledge that we have gained from the course “Management
Accounting” (ACT 4101).

The successful completion of this term paper might never be possible in time without the help of
the person whose inspiration and suggestion made it happen. We would like to express our
gratitude to our honorable teacher “Asia Khatun” assistant professor of Bangladesh University of
Professionals, for her invaluable lectures as well as guidance which have helped us a lot to
complete this term paper within the specific time frame. We will be grateful to our madam until
we exhale our last breath.

Finally, we are grateful to my family and friends for their love and support inspired us all the
time.
TABLE OF CONTENTS
ABSTRACT................................................................................................................................................1

INTRODUCTION.......................................................................................................................................2

LITERETURE REVIEW AND SUMMARY..............................................................................................3

CONCLUSION.........................................................................................................................................16

REFERENCES..........................................................................................................................................17
 ABSTRACT
The article characterizes the public sector, fighting that concepts, methods and models applicable
here are moreover appropriate within the private sector. Operational inspecting and inside
control inside a double bookkeeping framework are supported. Our survey covers the past two
decades and is based on 21 papers distributed in international accounting and open organization
diaries. We discover that distinctive advancement phases give rise to unmistakable sorts of
management accounting practice, which regularly do not live up to expectations owing to
neighborhood legislative issues and other socio-economic components. In arrange to capture
these complex socio-political and socio-cultural settings, strong hypothetical establishments are
suggested, relying especially on basic and social hypotheses, as well as on subjective investigate
such as case considers. The article closes with a brief account of public sector accounting in
Bangladesh.

Keywords: Management accounting, Public sector, Operational Audit, Human Asset

Accounting.

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 INTRODUCTION
The purpose of this study is to explain managerial principles and methods in public sector
accounting, as well as new difficulties for public workers in recent decades. The new public
sector reform has been adopted in all European countries. Management, which is concerned with
the modernization of the public sector all over the world. There have been significant changes in
public management around the world. Due to the European Union's expansion and the
globalization process, public sector accounting changes have been enacted throughout the last
few decades. In the public sector, management plays an important role. The purpose of sector
accounting is to concentrate on the execution of fiscal and financial laws. Discipline, focusing on
giving correct information to public managers and making timely decisions available timely,
reliable and transparent financial reporting for all public institutions. Recently, the managerial
science has experienced an unrivalled growth, but public management is a new and modern
instrument to improve the activity in public administration. The statistical information at the
central European level depends on the quality of the accounting and public finance information,
but there is also an urgent public demand of accountable public servants in the local and central
administration. This is the reason why the role of management in the public sector accounting
became more important than ever, contributing to the reduction of corruption and bureaucracy in
the public sector. The financial reports must be timely and accurate in order to be centralized at
the national and European levels. New management in public sector accounting was successfully
implicit had proven useful and appealing in terms of formulating strategy and procedures in all
departments, and it had been implemented in most public administration units. Internal control
was one of the most crucial aspects of the project.

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 LITERETURE REVIEW AND SUMMARY
A Study conducted by (Pettersen, 2001), studied about the relationship between management
accounting changes and organizational learning and transformation in the hospital setting. The
processes of identifying and evaluating accounting information in this complicated setting of
public sector management are given special attention. The Norwegian government overhauled
the funding structure for hospitals in 1997. Data from the county of Nordland and a case study in
a university hospital clinic are used to examine the hospitals' responses to these various budget
limitations. The analyses of the research reveal that from 1991 to 1997, hospitals adapted to the
frame budget system by systematically producing budget deficits, which were recognized as
budget drivers at the time. The study has also done a case study where the showed that clinical
leaders had a different interpretation of the new funding model than the government. More
ambiguity will arise in controlling hospital activity and expense under the new per-case
financing structure as a result of these differing conceptualizations and concrete experiences at
various institutional levels.

Many of the management accounting innovations that have appeared on a global scale have been
implemented in public hospitals. Modern hospitals can be described as enormous, complex
business-like manufacturing operations. As a result, learning more about how these reforms are
implemented in such complex organizations is a research area.

The data analyzed in this paper focuses on two levels of management accounting reform
implementation: county-level and clinical-level implementation in a hospital. At different levels
of the company, changes in management practices and reform initiatives are felt differently.
These tiers are intertwined in the public hospital system. County-level adjustments provide
context for understanding change at the clinical level, and vice versa.

Another study done by (Lapsley & Wright, 2004) where they investigate the way and method of
diffusion as well as the barriers to adoption and to set a study agenda. The outcomes of the
diffusion survey conducted to public sector financial managers are discussed in that study. The
result of the study reveal, among other things that government influence has a significant impact
on the adoption of accounting innovations by public sector organizations. The findings of this

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study are intriguing but they also highlight the need for a new research focus on the spread of
management accounting methods in the public sector.

The choice for public sector diffusion research is whether to use existing theories, as in private
sector research, or to create new frameworks for specific state-owned settings. Although the
prior studies discussed in this study were able to explain some aspects of the diffusion process in
the current survey, none of them were able to provide a complete explanation. Because of the
great diversity of workplaces in the public sector, a lot of organizations varied from the
generalizations outlined above, the results showed few apparent trends.

According to the findings of this survey, accounting innovations primarily originate in the
private sector, and their adoption by public sector firms is mostly due to government influence.
Technical knowledge is typically disseminated through traditional channels such as professional
membership and publications. Monitoring and discarding accounting procedures are not done in
any meaningful way, and non-financial managers have a mixed role in accounting technique
development.

Apart from these, (Heldena & Uddin, 2016) did a study on public sector management accounting
(PSMA) in emerging economies (EEs) and recommended the ways forward. The conclusions of
the study studied are analyzed using a political economics approach to management accounting
and development. The analysis of the paper was based on 69 studies published in international
accounting and public administration publications during the last two decades. They discovered
that different stages of development produce diverse types of management accounting practice,
which frequently fails to meet expectations due to local politics and other socio-economic issues.
Although there are some other papers on public sector management accounting and emerging
economies, this research helps to understand how the interplay between international donor
agencies' public management programmers and the political, economic, and cultural contexts of
EEs affects management accounting practices in the public sector. Solid theoretical foundations,
particularly critical and social theories, as well as some case studies are also done in the paper in
order to capture these complex sociopolitical and sociocultural circumstances.

Over the previous two decades, the amount of accounting research in emerging economies has
increased. This could be due to a number of complicated causes, such as globalization's
increasing demands, donor-driven accounting changes, the expansion of PhD programs in

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Western universities for academics from EEs and the creation and expansion of accounting
publications that are supportive of accounting research in EEs. However, research in this field,
particularly management accounting research is still in its early stages. Much of the research has
been done in the field of financial accounting, with a particular focus on accounting standards
and professional accounting organizations.

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In this topic we got to find out two things one is management accounting and the other is public
sector. If you want to know about these two things separately firstly comes management
accounting. Basically Managerial accounting is the practice of identifying, measuring, analyzing,
interpreting, and communicating financial information to managers for the pursuit of an
organization's goals. But when it is practiced in the public sector, its definition will changed.
Accordingly, public sector management accounting is concerned with the producing and
disclosing of figures aimed at proving the righteous use of taxpayers’ monies, emphasizing
economy, efficiency and effectiveness of public spending, performance oftentimes being
collapsed to polity’s value for money. In Bangladesh, the accounting and auditing practices are
based on cash basis accounting, which lags behind the international public sector accounting
practices and fails to report on economic, efficient and effective use of public resources with
proper accountability and transparency. Therefore, strengthening public sector accounting and
auditing is the focal challenge to ensure superiority in procuring government resources,
formation of proper budgets, keeping proper recording and reporting of assets and providing
accurate financial information. Having appropriate management accounting systems in the public
sector has appeared as a growing concern accompanying the so-called “modernization” of
government and polity has accompanied or caused calls for greater public accountability and
polity’s modernization. The management accounting concerns that have emerged from New
Public Management’s rhetoric have been implicitly underlid by the idea that the public sector is
too prominent or inefficient, the private sector being better at delivering a similar service.
Various forms have been promoted and diffused worldwide to instill a management culture
borrowed from the private sectors, such as public–private partnerships. Management control in
the public sector is the utmost form of democratic activity and vitality, since this imposes a full
transparency of public authorities’ actions. Dealing with taxpayers’ monies and deciding on
citizens’ and residents’ day-to-day life, controlling public authorities’ action appears as the
natural offshoot of the reasons for which they were initially elected. Based on what these
controls reveal, citizens can express their satisfaction or dissatisfaction with how the country is
run, namely through their votes. Controls in the public sector rest upon specific financial
management and budgeting as well as specific public policy controls. In order to clarify the
management accounting concerns at play in the public sector, this chapter is very progressive.
Borrowing from Public Administration Science and Public Policy, it first develops the realm of

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the public sector, answering the question of what falls within the public sector. Next, it exposes
the main manifestation of management accounting in the public sector: budgeting. Lastly, public
policy controls are exposed, including costing, performance management and execution control.
The main controls in place in the public sector and the challenges these raise are then developed.
Another basic elements of public sector is local government. Most of the management
accounting activity in local government has traditionally been thought of as being confined
primarily to the requirements of budget preparation and budgetary control. The budget is
generally recognized as being at the heart of planning, decision-making and control and yet there
have been many examples of the limitations in conventional budgeting and budgetary control
practices being pointed out. Management has a crucial role in the public sector in terms of
ensuring efficiency and control in accounting, budgeting and planning, towards positive financial
results. Public sector accounting has undergone many significant changes in the last decades, of
which the most important are related to the modernization of the accounting system and the
harmonization with the private sector accounting. Over the last 30 years, strategic management
has shaped the public sector, new reforms have been implemented and new control mechanisms
have been adopted. The implementation of the information systems in the public sector
accounting was an appropriate measure to increase efficiency in the public administration.

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Management accounting practice makes a difference in an organization to outlive within the
competitive, ever changing world, since it gives an important competitive advantage for an
organization that guides administrative activity, persuades behaviors, supports and makes the
social values necessary to accomplish an organization’s vital goals.

Management accounting is concerned primarily with the inside needs of administration. It is

oriented toward assessment of execution and development of gauges of the long run as opposed
to conventional money related bookkeeping which emphasizes chronicled information related to
such legal financial things as proprietorship, venture, credit granting, tax collection, control, and
the building of foundations for reliable and conservative external announcing, “in understanding
with generally accepted bookkeeping principles.” As the open segment is overseeing taxpayers’
monies, suitable management accounting frameworks show up as an critical highlight of
majority rule life and the work out of political actors’ responsibility to citizens. In like manner,
open division management accounting is concerned with the creating and unveiling of figures
pointed at demonstrating the equitable utilize of taxpayers’ monies, underlining economy,
productivity and viability of open investing, execution oftentimes being collapsed to polity’s
esteem for cash.

The require for suitable administration control frameworks is particularly distinctive at times of
monetary trouble when assets are beneath major limitations, as prove by the Greek obligation
emergency since 2008. The issue is complemented when a nation finds itself losing its budgetary
sway, being set beneath money related control from parties other than their claim citizens, such
as nations beneath IMF or World Bank programs. Governments and parliaments are requested an
account of the reasonable use of the assets they have been allowed or lent.

Having fitting management accounting frameworks within the open division has showed up as a
developing concern going with the so-called “modernization” of government and commonwealth
has went with or caused calls for more prominent open responsibility and polity’s modernizing.
Grounded in a contestation of the open sector’s authenticity and convenience, the defenders of
modernization contend that the public segment could be a instrument of political persecution and
is financially wasteful. In like manner, indeed in spite of the fact that the open division is seen as
an superfluous fiendish, owing to its presence, needs for modernizing it has been grounded

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within the thought that it would advantage from learning from private segment administration.
This belief system has ingraining the standards of a Modern Open Administration.

The management accounting concerns that have developed from Unused Open Management’s
talk have been certainly underlid by the thought that the open division is as well unmistakable or
wasteful, the private division being way better at conveying a comparable benefit. Different
shapes have been advanced and diffused around the world to inject a administration culture
borrowed from the private segments, such as Public-Private Organizations privatization, the
Private Back Activity within the UK or fair subcontracting connections

Administration control within the open division is the most extreme frame of law-based action
and imperativeness, since this forces a full straightforwardness of open authorities’ activities.
Managing with taxpayers’ monies and choosing on citizens’ and residents’ day-to-day life,
controlling open authorities’ activity shows up as the normal branch of the reasons for which
they were at first chosen. Based on what these controls uncover, citizens can express their
fulfillment or disappointment with how the nation is run, to be specific through their votes.
Controls within the open segment rest upon particular money related administration and
budgeting as well as particular open arrangement controls. In arrange to clarify the
administration bookkeeping concerns at play within the open division, this chapter is
exceptionally dynamic. Borrowing from Open Organization Science and Open Approach, it to
begin with creates the domain of the open division, replying the address of what falls inside the
open division. Following, it uncovered the most manifestation of administration bookkeeping
within the open division: budgeting. Finally, open approach controls are uncovered, counting
costing, execution management and execution control the primary controls in put within the open
division and the challenges these raise.

From different point of view we discover how open segment bookkeeping and controls are
conceived of and practiced in equitable nations. Since the English Transformation, it has showed
up that controlling how taxpayers’ monies are used and how open arrangement is executed are
the center of equitable action and essentialness. Subsequently, talking about administration
bookkeeping and control within the open division is continuously a politically touchy address,
efficiently highlighting diverse worldviews or ideas of government.

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Borrowed from the Open Choice, itself rousing the Unused Open Administration development,
controls within the open segment have highlighted expanding calls for governments’ open and
political responsibility to citizens. This has raised modern questions relating to the scope and
span of controls within the open division. While the Unused Open Administration development
proposes that open sector controls ought to borrow from those at work within the private
segment this chapter has tried to highlight a few of the limits and issues such controls would
raise. Such has been done through the highlighting of the most contentions displayed by their
defenders and rivals.

In any case of political or ideological debate, it shows up that administration bookkeeping and
controls within the open segment are pointed at demonstrating to citizens that their monies have
been utilized for the reason they were collected: open arrangement goals. In return, as
commonwealth impacts people’s lives, governments are held responsible for the compelling
conduct of the arrangement for which they were chosen. This incorporates all sorts of operation
and execution controls. All told, within the case of the open segment, vital administration
bookkeeping comprises of distinguishing what checks as open approach needs and take after
through. It moreover shows up that the choice of a control or a bookkeeping framework is in
itself politically delicate, insofar as diverse things can be underlined. In whole, depending on
government or rivals, needs administration bookkeeping figures, the administration control
framework in the long run required and used varies. This strengthens one more time the thought
that administration control and bookkeeping can in no way and by no implies create impartial
and objective figures. These are continuously situated towards a conclusion.

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In the organization management accounting are concern to building value. its fundamental truth
are the genuine interior economies of the undertaking - creating new businesses, optimizing
existing business process and analyzing customer value. Public sector mans the all government
department and agenesis as well as other service sector. Government sector maintain the
government and other organization. However, public sector carries social and political aims
contrasted to private firms. As a result, their business practices and philosophy are considered to
be heavily impacted by economic, social, and political issues set by the government, which are
ultimately answerable to society.

Figure 1: Management Accounting Award for Public Sector

Management accounting develop idea and instrument of reforming and 'modernizing' of

government thinking about organization. The auditors said that accounting not only calculation
its work to mobilize the accounting, another report shows that management accounting help to
mane effective financial statement and giving a batter contributions in auditing in public sector.
For management accounting public sector are doing effective and efficiently.

Furthermore, in another case study conducted on a Malaysian public utility company, it was
discovered that social relationships and workplace interactions are critical between operational
managers and accountants in explaining how they understand and execute the budget that has

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already been planned for their daily activities. Then is have been identify the problem that occurs
the agency problem that means conflict between accountant and the public utility manager. This
occurred when accountants imposed new systems in the public sector, such as budgetary control,
which limited the managers' authority.

The findings of the study are expected to aid the implementation of both the Government
Transformation Programmed (GTP) and the Economic Transformation Programmed (ETP),
which are viewed as the pillars supporting Malaysia's goal of becoming a high-income country
by 2020. . Thus, management accounting is concerned with how managers utilize accounting
data to better enlighten themselves before making decisions in their businesses, allowing them to
better manage and execute control duties.

In another report set that management accounting used in many way in the public sector.

Management Accountant: A person who gather or find out the financial information to the
people for the organization. Management accountants were seen to play vital role as information
providers for both management and workers, as well as participants in planning and control
operations. Management accountants were seen to play vital role as information providers for
both management and workers, as well as participants in planning and control operations.
Management accountants are part of a versatile team that advises on internal business
consultants. According to a previous study, management accountants are becoming more
involved with consumers of management accounting information while becoming less involved
in the accounting function. This implies that the management accountant's role may be divided
into two categories: functional accounting and business unit accounting.

Management Accountant’s Tasks: The main task or financial of the manager is that to
handling and secures financial statement of the organization. And the manager doing decision
making, planning controlling the organization. Another task is help to preparing the financial
statement and reduce the material miss statement and reducing financial cost of the public sector.

Strategic Management Accounting: In this way manager collect the data of the public
organization and analysis the data for developing and monitoring the organizational activities.

Budgeting: Managerial accountant need to prepared the financial reporting such as budgeted
income statement, budgeted cash flow and budgeted balance sheet.

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Product Costing Calculation: Manager have to calculate the cost of service or cost of product
in the public organization. And using the information for decision making.

Transfer Pricing: Measuring employee happiness, which includes duties connected to pay, is
currently regarded extremely crucial for most organizations.

For that research respondent demographic characteristic which among them are; age, education
level, and their current position their own organizations. And the finding is most management
accountants in the Malaysian public sector need such capabilities on a daily basis. Table 6 lists
the most important abilities for Management Accountant Practices. The capacity to operate in a
group and the willingness to accept responsibility are the most critical qualities required in the
Malaysian public sector, according to the findings. Both talents get the highest mean score of 4.9
for each. Aside from that, communication skills, negotiating ability, and leadership abilities are
also quite significant, since the average score is between 4.4 and 4.8.

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Management accountants have proven to be pivotal for introducing new forms of accounting and
reporting in companies to support managers in their decision-making process. Management
accountants level of involvement in lower than of non-accountants and there is consensus in
academia and practice that a more significant involvement of management accountants is needed
for promoting homogenization of sustainability accounting and reporting in companies and its
more widespread diffusion and use among managers, thus embedding sustainability in corporate
strategy and practices. In order to ensure that sustainability practices become deeply rooted in
organizations and embedded in corporate strategy, it is necessary that management accounting
and reporting integrate sustainability measures and tools that help managers include
sustainability criteria in their decision-making processes and in organizational daily routines.
Literature has amply shown that a key actor for the effective design and implementation of
management accounting and reporting is the management accountant .In particular , research has
demonstrated how the management accountant is essential for introducing new forms of internal
business reporting in companies such as the intellectual capital report and in fostering their use
within organizations .we describe the motivations for this research project and how we decided
to approach this stream of literature. As far as the motivation is concerned, we were aware that
sustainability accounting and reporting is a contemporary research field that has garner growing
attention from accounting researchers as well as practitioners in recent years. We hold that the
extant literature on the role of management accountants in sustainability accounting and
reporting appears still limited and that futures research would clarify and enrich our
understanding on the topic at stake. From the result of our SLR, we have identified some
research avenues that may be interesting, from theoretical point of view to better understand the
role and the involvement of management accountants in sustainability accounting and reporting
and that could also help investigate their influence on the uptake of sustainability practices by
managers.

Management accounting best practices are important on critical success factors in ensuring
organizational survival and competitiveness, provide relevant financial and non-financial
information at different levels to make informed decisions. Private sector organizations continue
to apply more sophisticated management accounting technologies to support their complex
structures and activities. Such practices have been regarded as mediums for enabling
organizations to create long term value emerging from excellent organizational performance. The

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roles that the government plays in improving public sector service deliveries have become a
serious concern particularly after increasing criticisms from various stakeholders that the
government should improve the corruption perception index issued by the international body. At
some points, the government has avowed their commitment to and constantly expressed the
desire to mitigate the negative perceptions over its administrations. Viewing these from Public
sector Management Accounting perspectives, these is a need to develop a comprehensive and
multi-dimensional Best practice Framework for Management Accounting Best Practices Award
in Public Sector. Management accounting concern are building values of the inside organizations
its main fact are the real internal economies of the enterprise- creating new business, optimizing
existing business process and analyzing customer value. Therefore, the new framework should
represent a new contribution to the body of knowledge in advancing management accounting
research to a greater extent. More importantly, the framework should encourage public sector
organizations to show their vast commitment and resource utilization to furnish evidence on their
operational process and subsequently their performance outcomes.

This paper attempts to obtain I depth understanding of MACS in operation, with particular
emphasis on the changes during the last decade in a public sector organization. To date, scant
attention is paid to empirically address reasons for MACS changes in a particular setting .The
focus of this paper is to address this apparent gap. In order to achieve this aim, the paper
documents the incidence of MACS changes in a state –owned housing institution in Fiji. This
study demonstrates that in order to understand the MSCS changes, one needs to look at the
external influences .The external environment in critical in bringing about the changes in MACS.
In order to understand organizational changes, an understanding of how social, political and
economic factors exogenous to the organization operate is essential.

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 CONCLUSION
The duties of management accountants in two Nigerian public-sector firms. Furthermore, with
increased unpredictability, intense industrial competitiveness, and enhanced technology,
globalization and rivalry have altered the operating environment of firms. Changes in
management accounting methods have resulted as a result of these. As a result, in order to deal
with the transition, firms are redefining their previous organizational architecture and strategy.
Furthermore, for companies to be more effective, sustainable, and increase their performance,
they must strive to better fit with the environment. As a result, public-sector management
accountants should look beyond their conventional duties as data providers. They should adopt
current roles in order to provide answers to organizational difficulties by actively participating in
decision-making. The findings of this study have consequences for accounting faculty training in
universities and professional organizations, as well as those in the public sector. The outcome,
however, is hampered by the tiny number of respondents who identified themselves as
management accountants; most of them, although performing all of the activities and activities of
management accountants, selected names such as financial accountants and other titles. Future
study in different industries should look into how management accountants' responsibilities have
changed as well as the influence of other institutional elements.

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