Government accounting produces financial information on the activities, assets and liabilities of public organizations. In this respect, it is an important tool of public finance that includes revenues, expenditures, borrowing and all financial administrative structures and processes of the public sector. The main function of government accounting in public finance stems from the fact that it produces the financial information of the public sector and is a financial information system. By recording public revenues, expenditures, assets and liabilities, making financial analyses and contributing to policy decisions through these analyses, government accounting undertakes the task of increasing the efficiency of public administration and maximizing the positive effects of the state on society.

The aim of this study is to examine the concept, importance and theoretical framework of government accounting in detail and to determine and question the effects of DMS 28, 29, 30 and IPSAS 41 standards on public sector accounting practices and the applications of these standards. In other words, it deals in detail with the implementation of the financial instruments standard related to Governmental Accounting Standards (GAS) 28, 29, 30 and International Public Sector Accounting Standards (IPSAS 41), which form the basis of financial management and accounting practices in the public sector. These standards play an important role in the accounting, valuation and reporting of financial instruments, and the effects of international and domestic regulations on these processes are at the center of the research. The research discusses how transparency, accountability and efficiency in government accounting can be improved through an in-depth examination of current practices and potential improvements. The research is based on a comprehensive assessment of the impact of DMS 28, 29, 30 and IPSAS 41 on public sector financial reporting, the advantages and challenges arising from their implementation. The research has the potential to shape the future direction of public sector accounting, based on scientific foundations and practical recommendations that will contribute to policy and practice development in this area.