COURSE OVERVIEW
What is public sector accounting and finance? Public Sector Accounting and Finance is “a process and procedure of recording, communicating, summarizing, analysing and interpreting Government financial statements and statistics in aggregate and specifics. It is concerned with the receipts, custody, expenditure/disbursement and rendering of stewardship on public funds entrusted”.
What are the roles of Public Sector Accounting? The purposes of Public Sector Accounting include: Demonstrating the proprietary of transactions and their compliance & conformity with the law, established rules and regulations. Measuring current performance. Providing helpful information for the efficient control and effective management of government operations.
This ZTS course looks at accounting and finance in non-business contexts, particularly in relation to national, state and local governments. The course covers aspects around performance measurement, budgeting, financial accounting, reporting and auditing.
Course Objectives
Upon completing this Public Sector Accounting Course successfully, participants will be able to:
- Demonstrate and display the proprietary of transactions and their conformity with the law, established rules and regulations
- Measure current performance
- Give helpful information for the efficient control and effective management of government operations
- Facilitate audit exercise to be carried out
- Plan future operations
- Appraise those in the authority, inefficiency and effectiveness
TRAINING METHODOLOGY
This collaborative Public Sector Accounting Course will comprise of the following training methods:
- Lectures
- Seminars & Presentations
- Group Discussions
- Assignments
- Problem Solving Exercises
- Case Studies & Functional Exercises
ZTS follows the ‘Do-Review-Learn-Apply’ model.
Organisational Benefits
Companies who nominate their employees to participate in this Public Sector Accounting Course can benefit in the following ways:
- Evaluating and assessing the economy, efficiency and effectiveness with which Public Sector Organisations pursue their goals and objectives
- Confirming that costs are matched by at least equivalent benefits accruing therefrom
- Provide the specifics on outstanding long-term commitments and financial obligations
- Stipulating the means by which actual performance may be compared with the target set
- Tendering solutions to the various bottlenecks and/or problems identified
Personal Benefits
Individuals who participate in this Public Sector Accounting Course can gain from it in the following ways:
- Establishing the legitimacy and authenticity of transactions and their compliance with the established norms, regulations and statutes
- Providing evidence of stewardship
- Assisting planning and control
- Assisting objective and timely reporting
- Providing the basis for decision-making
- Enriching the appraisal of the efficiency of management
WHO SHOULD ATTEND?
This Public Sector Accounting Course would be suitable for:
- Public Sector Purchasing and Procurement Managers
- Departmental Budget Holders
- Financial Accounting Team Members
- Finance Managers
- Planning Managers
- Public Sector Budget Accountants
- Assistants to Ministry and Departmental Officials
COURSE OUTLINE
Module 1: Public Sector Finance Management
- Introduction to Public Sector Finance Management (PSFM)
- Effective Public Sector Finance Management
- Objectives of Public Sector Finance Management
- Role of Fiscal Policy
Module 2: Budget Cycle & Formulation
- Key Stakeholders in Budget Formulation
- Budget Preparation
- Budget Approval
- Role of Central Treasury
- Annual v/s Mid-Term Budget
Module 3: Budget Execution
- Budget Execution strategies
- Factors to Control Public Revenue
- Revenue Management
- Public Sector Management and Accountability
Module 4: Project Management
- Project Identification
- Project Planning & Execution
- Project Monitoring & Closing
- Benefits accruing in future
Module 5: Public Sector Governance
- What is Public Sector Governance?
- Responsibilities of Board of Directors / Governors
- Consequences of Poor Governance
- Necessity of Internal Controls
- Internal Control Procedures
- Functions of Audit Committees
Module 6: Auditing Public Sector Enterprises
- Role of Internal Audit
- Supreme Audit Institution
- Functions of Supreme Audit Institution
- Report of Supreme Audit Institution
Module 7: International Public Sector Accounting Standards
- Presentation of Public Sector Accounting Standards
- Cash Flow Statement
- Property Plant & Equipment
- Presentation of Budget Information in Financial Statement
Module 8: General Accounting Concepts
- Historic Cost
- Prudence
- Consistency
- Materiality
Module 9: Public Sector Financial Statements
- Balance Sheet
- Income Statement
- Cash Flow Statement
- Statement of Equity
- Horizontal Balance Sheet and Income Statement
- Vertical Balance Sheet and Income Statement
Module 10: Public Sector Financial Statements
- Special Funds
- Case Study
