PUBLIC FINANCE AND TAXATION

Preface
Public financial management is a cornerstone of good governance, ensuring that public funds are used effectively and efficiently to deliver public services. As governments worldwide face growing demands for accountability and transparency, the importance of understanding public finance and taxation has never been greater. This book, Public Finance and Taxation, has been designed to provide a comprehensive and practical foundation for students pursuing the Certified Public Accountant (CPA) qualification, particularly those preparing for Paper No. 12: Public Finance and Taxation.
The content of this book is aligned with the CPA syllabus (KNQF Level 7) and addresses all examinable areas in detail, ensuring that students are fully equipped to succeed in their exams and apply their knowledge in real-world scenarios. The book covers a broad range of topics, from the basics of public finance to more advanced areas such as taxation, public debt management, procurement, and financial reporting for public entities.
Written with the learner in mind, this book combines theoretical concepts with practical examples to help students not only understand the intricacies of public finance and taxation but also to apply this knowledge in both academic and professional settings. The material is structured to reflect the latest standards and best practices, ensuring that it is both exam-ready and relevant to the current landscape of public sector financial management.
Key features of this book include:

• Comprehensive coverage of the key topics in public finance and taxation, including public debt, procurement processes, and tax law.
• Practical examples drawn from both local and international contexts to help bring theory to life.
• Step-by-step guidance on how to approach complex financial calculations and tax computations.
• Case studies and real-world applications to strengthen understanding and enhance critical thinking.
• Exam-style questions with detailed solutions to help students prepare effectively for their CPA exams.

Whether you are preparing for your CPA exams, advancing your understanding of public finance, or seeking to apply these concepts in your professional career, this book is designed to be your essential guide. It bridges the gap between academic learning and practical application, ensuring that you are fully prepared to tackle the challenges of the public finance and taxation landscape.
We hope this book provides you with the tools and confidence to excel in your studies and in your future career as a Certified Public Accountant.
CPA Ronoh Benson Benhard
Synapse Global Institute
2025