Analysis of Public Financial Management of Pakistan

Abstract

Analysis of Public Financial Management of Pakistan 1. Introduction Researcher influences the financial stimulus and the Accounting reforms of public sector in Pakistan. In financial performance researcher are determine the financial problems of corporate sector and their wrong implemented policies which's totally against of international accounting standards and marketer performance. The financial manager has also involved in un legislating activities and contracts only for the profitable value, which is initially provide the much more benefit to the organization but in case of minor mistakes the decision policies of public sector laid down the strategic profitable graph form the level of breakeven point. The accounting reform in public sector to hold the accounting techniques by different methods of accruals principles. The government of Pakistan is already used different accounting reform systems according to nature of business. The different financial system in public sectors have elaborated different kinds of accrual principles. Supervisory commission has hold by the rules of accounting reforms. And apply the accounting reform to their nature. The implementation standard of reform, and the public accounting sectors financial standards will be established before 2000 established but time to time it takes modification according to need of company (Bork, 2015). It specify the structure of acccounting streem of public sectors, acquired with manual and computerized accounting. The public sectors accounting shows the budget performance reports which is indicates responsibility for drawing up and set of accounting standards. It is envisioned that the public sector entities will have handle accounting system with standards of public accounting standards. The system of accounting expressed in money terms. It's identify to measure the commnuicating financial rules along with entity permits, which is use to for decsion making process and judgements. (Basic Accounting theory committee Staff 1966,p.2) In the accounting system, there are two most important methods are using as for computing information of accounting, namely the accrual and cash base system. The both system are using as for calculation of accounting values but one is using as for puerly on due bases but another one is using as for cash. Also the difference between in this tow methods recognized the timing in which transaction will process in the book of account. On the bases of cash the publich sectors directly recognized income and expenses and time to time mentioned values in accounting book. In other hand the accrual base system of accounting idicate the time line of billing in public sectors. It indicate the performance and delivery of cash even if there is no cash in outflow and inflow inccured. Basically, from this research will identify the Pakistan accounting reforms constrains and main problems against public sector wrong financial decisions. Financial manager skills also will determine and elaborate the precise decision policies along with sole p...