The Effect of Public Sector Accounting Standards on Budget Performance in Keffi LGA, Nasarawa State
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Background of the Study
Public sector accounting standards (PSAS) provide a framework for transparent and accountable financial reporting in government operations. These standards are designed to ensure the effective allocation and utilization of budgetary resources. In Keffi Local Government Area (LGA), Nasarawa State, adherence to PSAS is essential for improving budget performance and achieving developmental goals. However, deviations from these standards often result in inefficiencies, such as misappropriation of funds and poor implementation of budgetary allocations. This study examines the effect of PSAS on budget performance in Keffi LGA, highlighting the importance of compliance for effective governance.
Statement of the Problem
In Keffi LGA, challenges such as delayed project execution, poor service delivery, and financial mismanagement have been linked to weak adherence to public sector accounting standards. This study seeks to evaluate the relationship between PSAS compliance and budget performance, with the aim of identifying areas for improvement in Keffi LGA.
Aim and Objectives of the Study
The aim of this study is to examine the effect of public sector accounting standards on budget performance in Keffi LGA, Nasarawa State. The specific objectives are:
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To assess the level of compliance with public sector accounting standards in Keffi LGA.
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To evaluate the impact of PSAS compliance on budget performance in Keffi LGA.
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To identify challenges affecting the implementation of PSAS in budget management in Keffi LGA.
Research Questions
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What is the level of compliance with public sector accounting standards in Keffi LGA?
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How does compliance with PSAS affect budget performance in Keffi LGA?
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What challenges affect the implementation of PSAS in budget management in Keffi LGA?
Research Hypotheses
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Compliance with public sector accounting standards significantly improves budget performance in Keffi LGA.
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Poor adherence to PSAS negatively impacts budget performance in Keffi LGA.
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Addressing challenges in PSAS implementation enhances budget management in Keffi LGA.
Significance of the Study
This study will provide policymakers with insights into the importance of public sector accounting standards for achieving efficient budget performance in Keffi LGA.
Scope and Limitation of the Study
The study focuses on the relationship between PSAS compliance and budget performance in Keffi LGA, Nasarawa State. Limitations may include limited availability of financial records and reliance on qualitative data from stakeholders.
Definition of Terms
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Public Sector Accounting Standards (PSAS): Guidelines for financial reporting and management in government institutions.
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Budget Performance: The effectiveness of budgetary allocations in achieving desired outcomes.
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Compliance: Adherence to established rules and guidelines.
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