Help - confusion over private and public sectors

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
Hi,<BR><BR>Does anyone know what is the difference in of reporting for private and public sectors - i have looked everywhere but just cant find anything to do with reporting!<BR><BR>cheers<BR>Sarah x

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help - confusion over private and public sectors

    The key difference is that Public Sector are usually Not for Profit organisations; <BR><BR>Public Sector report to Government, and most of their income comes from Exchequer Funds via the Treasury.<BR><BR>Rather than having a Profit and Loss statement, they will produce an Income and expenditure Account.<BR><BR>Public Sector organisations will also have to report Estimates of future expenditure, Monthly budgets and Variances to Treasury.
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help - confusion over private and public sectors

    R U sure that's accurate 3in1 !!!!! I'm no expert but.......
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Help - confusion over private and public sectors

    The P&L equivalent in Government Departments is often called an Operating Cost Statement.

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