Course Overview
What is Public Financial Management? Public Financial Management (PFM) means managing the finances of a public sector entity such as the National Government or State Government or any Government ministries, agencies departments or local governments.
Why you should attend the Masterclass in Public Financial Management and Administration? The nature and size of expenditure in governments are changing rapidly. As a professional working in the public sector, you must be aware of the principles of Public Financial Management because your role serves as a cornerstone in Public Financial Management.
This Zoe training course will empower you in obtaining an in-depth and comprehensive knowledge of theoretical as well as practical aspects of Public Financial Management.
Course Objectives
The objective of this ‘Masterclass in Public Financial Management and Administration’ training is to help you in acquiring in-depth knowledge in the area of Public Financial Management and Public Administration.
By the end of this ‘Masterclass in Public Financial Management and Administration’ training you will be able to:
- Understand the Public Financial Management (PFM) cycle
- Understand the Budget Preparation Strategy
- Understand the risks involved in Budget Execution
- Implement the Internal Control Policies in Budget Execution
- Evaluate the policies implemented and take corrective actions
Training Methodology
All training courses at Zoe Talent Solutions are customised to suit the training audience and their professional backgrounds and experience. Classroom sessions with demonstrations by a highly experienced trainer form a major part of the training.
However, trainee contribution is encouraged through group discussions, troubleshooting for questions, group activities, projects, etc. Trainees are also encouraged to share their experiences, issues, concerns and best practices from their respective organisations, which are discussed in detail by the trainer.
Like all Zoe Talent Solutions’ courses, we follow the Do–Review–Learn–Apply Model.
Organisational Benefits
Companies who get their employees to participate in this course can benefit in the following ways:
- Get in-depth knowledge on best practice government finance processes
- Operate key financial controls
- Decipher budget variances and devise suitable strategies to respond to them
- Better communication with finance support staff and senior management on financial planning and control issues
Personal Benefits
Individuals who participate in this course can benefit in the following ways:
- Comprehend and analyse financial activity reports
- Plan, set and manage a budget
- Increase the value for money delivered by your service
- Assertively discuss financial issues with your own staff and with finance staff supporting your service
- Detect and respond to financial warning signs before they become financial issues
Who should attend?
- Accountants working in the Government and Other Public Sector Entities
- Auditors working in Supreme Audit Institutions
- Diplomats, Envois, Ambassadors
- Policy Makers in the Public Sector
Course Outline
Module 1 – Introduction to Public Financial Management (PFM)
- Public Financial Management Framework
- Objectives of Public Financial Management
- Fiscal Policy
- Budget Cycle
Module 2 – Budget Strategy
- Budgeting and budgeting techniques
- Revenue management
- Project management
Module 3 – Budget Formulation
- Annual Budget
- Medium-Term Budget
Module 4 – Budget Approval
- Legislative Approval
- PFM Act
- Legal Aspects of Budget Approval
Module 5 – Budget Execution
- Budget execution strategy
- Budget execution cycle
- Cash planning
- Debt management
- Procurement
Module 6 – Accounting & Internal Control
- Financial Management Information Systems
- Accounting aspects – Accrual and Cash basis IPSAS
- Internal Control Policies
- Internal Audit
Module 7 – External Audit
- Supreme Audit Institutions
- International Auditing Standards
- Fiscal Councils
- Legislature Oversight
- Public Participation
Module 8 – Budget Evaluation
- Budget Feedback
- Comparing Actuals vs Budgets
- Fiscal Transparency
- Updating the Budget Strategy
