CPFM Module I
Public Sector Accounting and Reporting I glossary
Every term this guide defines, A to Z, each with the chapter that teaches it. Open it when a word in a question is unfamiliar, and test yourself on it in the last week: cover the definition and say it in one sentence.
5 terms from the free first chapter
A
- Accrual basis accounting
Recognises transactions when they occur economically, regardless of cash timing, providing a fuller picture of financial position (assets, liabilities) that Kenya's public sector has been progressively transitioning toward.
Taught in Background to public sector reporting
C
- Cash basis accounting
Recognises transactions only when cash is actually received or paid, simpler, and historically the traditional basis for Kenyan government accounting (the chapter on the cash basis).
Taught in Background to public sector reporting
I
- Institute of Certified Public Accountants of Kenya (ICPAK)
The professional body for accountants in Kenya, setting professional and ethical standards for practitioners.
Taught in Background to public sector reporting
- International Public Sector Accounting Standards Board (IPSASB)
Develops IPSAS, the international standards this diploma's accounting content is built on.
Taught in Background to public sector reporting
P
- Public Sector Accounting Standards Board (PSASB)
Kenya's own body prescribing accounting standards and formats for public entities (under PSASB reporting guidelines, in the chapter on the cash basis).
Taught in Background to public sector reporting
The full glossary adds every term from the other 9 chapters, A to Z, each with the chapter that teaches it.