Best Practice in Public Sector Budgeting
Select Other "city & date"
Best Practice in Public Sector Budgeting Course
Introduction:
Local government budgeting is an essential responsibility for public administrators, one that requires both financial and political skills. During the budget process, administrators need to consider financial limitations and constituents’ interests, among other factors, while also ensuring accountability and transparency in the final document.
Public sector budgeting is essentially about making the right spending choices for the public in terms of service provision and infrastructure development.
The course covers all aspects of the budget process, from budget formulation to implementation, including budget monitoring and control.
The course will equip delegates with the skills and knowledge needed to ensure budgets are robust and deliver the right outcomes for the public.
Course Objectives:
At the end of the Best Practice in Public Sector Budgeting Course you will be able to:
- Understand the role of financial accounting in public sector management
- Prepare accounts by the IPSASB framework
- Analyze 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
Who Should Attend?
This Best Practice in Public Sector Budgeting Course is Ideal for:
- This training course would be relevant to all of those involved in the preparation, presentation, and interpretation of corporate financial statements from both the private and public sectors where compliance with the IASB and IFRS framework is required; both in commercial businesses, government, and not-for-profit organizations.
Course Outlines:
Fundamentals of Public Sector Finance
- 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)
Financial Accounting Basics
- Basic Concepts in Financial Accounting
- Cash versus Accruals Accounting
- Qualitative Characteristics of Financial Statements
Financial Reporting in the Public Sector
- 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
Financial Analysis of Public Sector Accounts
- 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
Public Sector Budgeting
- 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
Capital Investment Decision-Making
- 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
Public Sector Financial Management Reforms
- Understanding Public Sector Management Reforms
- The Need and Purpose of Financial Reforms
- Key Issues for the Future of the Public Sector