Public Sector Accounting and Budgeting

About the Course

This 5-day interactive Public Sector Accounting and Budgeting training course is specifically tailored to address the unique financial management challenges in the public sector. It provides an in-depth understanding of public sector accounting and budgeting principles and practices, emphasizing fiscal responsibility, transparency, and efficiency. Delegates will learn about the latest standards in government accounting, the intricacies of budget preparation, execution, and monitoring, and the key aspects of financial reporting and analysis in a public context. It also delves into the impact of public financial management on policy formulation and public service delivery. Through theoretical learning and practical case studies, delegates will gain the skills and knowledge necessary to enhance public sector entities' financial integrity and accountability, ensuring that public funds are managed effectively and aligned with policy objectives.

Moreover, it will also focus on contemporary challenges and advancements in public financial management, such as integrating technology and digital tools in accounting and budgeting processes, covering the critical role of internal controls and audits in ensuring the accuracy and reliability of financial information. Delegates will be introduced to comparative international public sector accounting standards, providing a global perspective on best practices in financial management.

Core Objectives

The delegates will achieve the following objectives:

• Master the principles and practices of public sector accounting in line with current standards
• Develop robust skills in budget preparation, execution, and monitoring within the public sector
• Analyse financial statements and reports for effective public sector financial management
• Understand the role of accounting and budgeting in policy formulation and service delivery
• Apply best practices in fiscal transparency and accountability
• Evaluate the impact of financial decisions on public sector performance and outcomes
• Integrate ethical considerations in public sector financial management

Training Approach

This training course is a comprehensive mix of theoretical instruction and practical application. It is structured to facilitate learning through interactive classroom sessions and engaging modules. Delegates will be exposed to real-world case studies highlighting the challenges and best practices in public sector accounting and budgeting, including practical exercises and workshops, allowing delegates to apply their learning directly to public sector scenarios. This programme ensures that delegates grasp the theoretical aspects of public sector financial management and develop practical skills to apply in their professional roles.

The Attendees

This training course would be relevant to all those involved in preparing, presenting and interpreting corporate financial statements from both the private and public sectors, both in commercial businesses, government and not-for-profit organisations.

Likewise, it will be valuable to the professionals but not limited to the following:

• Government Accountants and Auditors
• Public Sector Financial Managers and Analysts
• Budget Officers and Planners
• Policy Makers and Advisors
• Public Administration Professionals
• NGO Financial Officers
• Public Sector Consultants

Daily Discussion

DAY ONE: FOUNDATIONS OF PUBLIC SECTOR ACCOUNTING

• Introduction to Public Sector Accounting: Key Principles and Frameworks
• Governmental Accounting Standards: National and International Perspectives
• The Chart of Accounts in Public Sector: Structure and Importance
• Recording and Reporting Transactions: Accrual vs Cash Basis
• Examining Public Sector Accounting Records
• Setting Up a Public Sector Accounting System

DAY TWO: BUDGET PREPARATION AND EXECUTION IN THE PUBLIC SECTOR

• Budgeting Process in Government: An Overview
• Techniques for Effective Budget Preparation: Line-Item and Program Budgeting
• Budget Execution and Monitoring: Ensuring Fiscal Discipline
• Capital Budgeting in the Public Sector
• Preparing a Public Sector Budget
• Analysis of a National Budget Document

DAY THREE: FINANCIAL REPORTING AND ANALYSIS IN PUBLIC SECTOR

• Public Sector Financial Statements: Understanding the Components
• Comprehensive Annual Financial Report (CAFR): Structure and Analysis
• Performance Reporting in the Public Sector
• Analysing the Financial Health of Government Entities
• Interpreting Public Sector Financial Reports
• Transparency and Accountability in Financial Reporting

DAY FOUR: FISCAL RESPONSIBILITY AND POLICY IMPACT

• Fiscal Responsibility in Public Sector Financial Management
• The Role of Accounting in Policy Formulation and Public Service Delivery
• Debt Management and Sustainability in Public Finance
• Evaluating the Impact of Financial Decisions on Public Services
• Fiscal Policy Analysis and Development
• Ethical Considerations in Public Financial Management

DAY FIVE: CONTEMPORARY ISSUES AND STRATEGIC APPLICATION

• Emerging Trends in Public Sector Accounting and Budgeting
• Best Practices in Fiscal Transparency and Accountability
• Strategic Planning and Financial Management in the Public Sector
• Role of Audits in Ensuring Financial Integrity
• Implementing Best Practices in a Public Sector Scenario
• Continuing Professional Development in Public Sector Accounting and Budgeting