The results of the study indicate that budgetary accounting is the most important component of the accounting system in the government. Fund accounting is not used and the basis of accounting used is the modified cash basis. In preparing the budget, the line-item approach is used and questionnaire respondents are dissatisfied with this approach to budgeting. However, State Budget Law recommends that the necessary steps be taken to gradually implement performance and program budgeting beside line-item budgets. Moreover, encumbrances, budgetary revisions, and emergency budgets are used. In financial reporting, the statement “consolidated fund” maintains fiscal transparency. All revenues and expenditures get routed through the consolidated fund and controlled by the budget and no separate fund is permissible to credit receipts.
Based on the findings, some recommendations for development and improvement are highlighted. In this regard, comprehensive implementation of performance and program budgeting is worthwhile for effective control on government expenditure, efficiency and accountability. Further, it is recommended that the accrual basis is introduced when preparing the government-wide budget.