Course description
A 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 the 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.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This Best Practice in Public Sector Budgeting Course 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 sector where compliance with the IASB and IFRS framework is required; both in commercial businesses, government and not-for-profit organizations.
Outcome / Qualification etc.
By 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 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
Training Course Content
Day 1
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
Day 2
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
Day 3
Financial Analysis of Public Sector Accounts
- Understanding and Analysing Cost Behaviour
- The Cost-Volume-Profit Relationship
- Why Analyse Financial Statements
- The Financial Analyst’s Toolkit
- Interpreting Financial Ratio Analysis of Public Sector Reports
- Managing and Improving Spending Deficits
Day 4
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
Day 5
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
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...