[MEET 7] AKUNTANSI SEKTOR PUBLIK - AKUNTANSI UNTUK BELANJA & BEBAN
Summary
TLDRIn this engaging lecture, Nilem Kemala delves into public sector accounting, focusing on expenditures and expenses. He distinguishes between expenditures, which are cash outflows affecting the budget surplus, and expenses, which represent a reduction in economic benefits. The lecture classifies expenditures into operational and capital types, while expenses include operational, transfer, and extraordinary categories. Key principles of recognition and measurement are discussed, emphasizing the importance of accrual accounting for expenses. With detailed account codes and examples, this session sets the stage for deeper analysis in future discussions, making it a vital resource for understanding public sector financial management.
Takeaways
- 😀 Expenditures reduce the budget surplus for a given fiscal year and are recorded on a cash basis.
- 😀 Expenses reflect the decrease in economic benefits or services that reduce equity and are recorded on an accrual basis.
- 😀 Operational expenditures include salaries, goods and services, and social assistance, while capital expenditures involve assets like land and buildings.
- 😀 Expenditures are classified into operational and capital categories, while expenses include operational, transfer, and extraordinary categories.
- 😀 Recognition of expenditures occurs at the time of cash outflow, whereas expenses are recognized when obligations are incurred or assets consumed.
- 😀 Different account codes are assigned to various expenditures and expenses for accurate financial reporting.
- 😀 Non-operational deficits are classified as expenses but are non-cash in nature, impacting financial records differently.
- 😀 Extraordinary expenses account for rare events, such as natural disasters, and require specific recognition in financial statements.
- 😀 The measurement of expenditures is based on actual cash outflows, while expenses are determined by the costs incurred during the reporting period.
- 😀 Understanding these distinctions is crucial for effective public sector accounting and accurate financial management.
Q & A
What is the primary difference between expenditure and expense in public sector accounting?
-Expenditure refers to cash outflows that reduce the surplus budget for the fiscal year, recorded on a cash basis, while expense refers to a reduction in economic benefits that decreases equity, recorded on an accrual basis.
What are the two main types of expenditures discussed in the lecture?
-The two main types of expenditures are operational expenditure and capital expenditure.
How are operational expenditures classified?
-Operational expenditures include employee expenses, goods and services expenses, interest payments, subsidies, grants, and social assistance expenditures.
What is classified as capital expenditure?
-Capital expenditure includes expenses related to the procurement of fixed assets such as land, equipment, buildings, and infrastructure.
What are the key components of operational expenses?
-Operational expenses consist of non-cash items such as depreciation and amortization, as well as various costs like employee salaries and services.
What criteria must be met for an expense to be recognized?
-An expense is recognized when obligations arise, assets are consumed, or there is a reduction in economic benefits during the reporting period.
How is the measurement of expenditures and expenses conducted?
-Expenditures are measured based on cash outflows from the treasury, while expenses are assessed based on incurred costs during the reporting period.
What unique classification exists for unexpected expenditures?
-Unexpected expenditures are classified separately and are not considered part of either operational or capital expenditures.
What distinguishes extraordinary expenses from regular expenses?
-Extraordinary expenses are for rare events, such as natural disasters, and are not part of regular operational expenses.
Why is it important to understand the difference between expenditures and expenses in public sector accounting?
-Understanding the difference helps in accurate financial reporting, budgeting, and resource allocation, ensuring transparency and accountability in government financial management.
Outlines
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