Subject matter of public finance:
The subdivisions below form the subject matter of public finance:
A. Public expenditure
B. Public Revenue
C. Public debt
D. Financial administration and
E. Federal finance
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We have seen that, in the early days of financial reporting, stewardship was the key issue. The main aim was to recount what had happened so as to make stewards (managers) accountable and perhaps, therefore, more careful in deploying the assets of the owner.
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