Public Sector Accounting and Budgeting

INTRODUCTION
This leading Public Sector Accounting and Budgeting training course is designed to provide a comprehensive briefing on the fundamental principles and key functions in the continuously developing sphere of public sector finance. Non-financial public sector employees and managers are regularly required to both provide input to the budget process and respond to information presented in departmental financial reports.

OBJECTIVES
• Understand the role of financial accounting in public sector management
• Prepare accounts in accordance with IPSASB framework
• Analyse and interpret public sector financial reports
• Use forecasting techniques to plan for income and expenses
• Understand and actively participate in the budget process
• Understand apply capital investment appraisal methods

COURSE OUTLINE
DAY 1
• Basic Principles of Macroeconomic and Fiscal Policy
• Types of Public Sector Financial Decision-making
• Purpose of Public Sector Accounting and Budgeting
• The Dimensions of New Public Management (NPM)
• Basic Concepts in Financial Accounting
• Cash vs. Accruals Accounting
• Qualitative Characteristics of Financial Statements

DAY 2
• The IPSASB Compared to the IASB Framework
• Distinctive Characteristics of Public Sector Financial Accounts
• The Five Elements of Financial Statements
• Reporting Standards Relevant to Public Sector Financial Reports
• Assets and Liabilities: Principles for Recognition and Measurement
• Nature and Classification of Public Sector Income and Expenses
• Principles of Public Sector Financial Management
DAY 3
• Understanding and Analyzing Cost Behavior
• The Cost-Volume-Profit Relationship
• Why analyze financial statements?
• The Financial Analyst’s Toolkit
• Interpreting Financial Ratio Analysis of Public Sector Reports
• Managing and Improving Spending Deficits
DAY 4
• Setting Goals and Outcome Requirements
• Financial and Non-financial Performance Measures
• Objectives of Public Sector Budgets
• Outcome Focused Budgeting in the Public Sector
• Budget Layers
• Techniques for Forecasting Income and Costs
• Human Aspects and Dysfunctional Budgeting
• Principles of Capital Budgeting
DAY 5
• Characteristics and Decision-making Process
• Investment Appraisal Techniques
• Principles of Discounted Cash-flow Analysis
• Understanding Net Present Value (NPV)
• Outsourcing Services: Objectives and Decision Criteria
• PPI and PFI: Objectives and Decision Criteria