Training Course on Public Sector Accounting and Budgeting

Training Course on Public Sector Accounting and Budgeting

Introduction

Training Course on Public Sector Accounting and Budgeting is meticulously designed to equip participants with essential knowledge and practical skills for effective financial management within governmental and public organizations. Participants will gain a strong understanding of the unique principles and standards governing public finance, including the crucial role of transparency and accountability. The course delves into the intricacies of public sector financial reporting, budgeting processes, and compliance requirements, ensuring that learners can contribute significantly to sound financial governance.

Through a blend of theoretical learning and practical application, this training addresses the growing need for expertise in managing public funds responsibly. It covers key aspects such as the application of International Public Sector Accounting Standards (IPSAS), budget preparation and execution, financial analysis, and audit functions. By focusing on real-world case studies and interactive methodologies, the course aims to enhance participants' ability to navigate the complexities of public sector finance and make informed decisions that promote fiscal sustainability and public trust.

Course Duration

10 days

Course Objectives

This training course aims to enable participants to:

1. Understand the fundamental principles of public sector accounting.
2. Apply the International Public Sector Accounting Standards (IPSAS) framework in financial reporting.
3. Master the processes of public sector budgeting and budget execution.
4. Analyze and interpret public sector financial statements.
5. Utilize forecasting techniques for financial planning in the public sector.
6. Comprehend the role of auditing and accountability in public finance.
7. Evaluate capital investment appraisal methods relevant to the public sector.
8. Implement robust internal controls and financial management practices.
9. Stay updated with emerging trends in public financial management.
10. Enhance financial transparency and accountability within their organizations.
11. Improve resource allocation efficiency in the public sector.
12. Understand the legal and regulatory frameworks governing public finance.
13. Develop skills in financial analysis for effective decision-making.

Organizational Benefits

Organizations that invest in this training will benefit from:

• Improved financial accountability and transparency.
• Enhanced budgeting and financial planning processes.
• Better compliance with regulatory requirements and IPSAS standards.
• More efficient allocation and utilization of public resources.
• Strengthened internal controls and risk management.
• Increased staff competency and confidence in financial roles.
• Enhanced decision-making based on sound financial analysis.
• Greater stakeholder trust through transparent financial practices.

Target Audience

1. Public Sector Accountants
2. Budget Officers and Analysts
3. Finance Managers in Government Entities
4. Auditors and Compliance Officers
5. Government Officials involved in Financial Oversight
6. Policy Makers dealing with Fiscal Issues
7. Non-Financial Managers with Budgetary Responsibilities
8. Anyone seeking to understand public sector finance

Course Outline

Module 1: Foundations of Public Sector Accounting

• Overview of public sector finance and its unique characteristics.
• Distinction between public and private sector accounting principles.
• The role of accounting in public sector management and accountability.
• Key stakeholders in public sector financial reporting.
• Case Study: Comparing financial reporting objectives in public vs. private sectors.

Module 2: International Public Sector Accounting Standards (IPSAS)

• Introduction to IPSAS: objectives and framework.
• Key IPSAS standards relevant to financial reporting.
• Accrual vs. cash-based accounting under IPSAS.
• Presentation of financial statements according to IPSAS.
• Case Study: Application of IPSAS 1 (Presentation of Financial Statements).

Module 3: Public Sector Budgeting: Principles and Processes

• The objectives and importance of public sector budgeting.
• Different types of budgets: line-item, program, performance-based.
• The budget cycle: preparation, approval, execution, and audit.
• Techniques for revenue and expenditure forecasting.
• Case Study: Analyzing a government budget preparation process.

Module 4: Budget Execution and Control

• Mechanisms for budget implementation and monitoring.
• Managing budget variances and deviations.
• The role of internal controls in budget execution.
• Performance measurement in budgeting.
• Case Study: Addressing challenges in budget execution in a public entity.

Module 5: Public Sector Financial Reporting

• Components of public sector financial statements.
• Reporting requirements and compliance.
• Consolidated financial statements in the public sector.
• Interpretation and analysis of public sector financial reports.
• Case Study: Analyzing a set of public sector financial statements.

Module 6: Revenue and Expenditure Management

• Sources of public sector revenue: taxation, grants, fees.
• Classification and management of public expenditure.
• Principles of cost control and efficiency measures.
• Managing intergovernmental fiscal transfers.
• Case Study: Strategies for enhancing revenue collection in a public agency.

Module 7: Public Sector Auditing and Accountability

• The role of internal and external audit in the public sector.
• Types of audits: financial, compliance, performance.
• Reporting audit findings and recommendations.
• Mechanisms for ensuring accountability in public finance.
• Case Study: Reviewing an audit report of a public sector organization.

Module 8: Capital Investment Appraisal in the Public Sector

• Specific considerations for capital budgeting in government.
• Techniques for evaluating capital investment projects.
• Public-Private Partnerships (PPPs) and financial implications.
• Risk assessment in public sector investments.
• Case Study: Evaluating a proposed infrastructure project using NPV.

Module 9: Financial Management and Internal Controls

• Principles of financial management in the public sector.
• Designing and implementing effective internal control systems.
• Risk management frameworks in public finance.
• Preventing and detecting fraud and corruption.
• Case Study: Developing an internal control framework for a government department.

Module 10: Legal and Regulatory Frameworks

• Overview of key legislation governing public financial management in Kenya.
• Understanding treasury regulations and circulars.
• The role of the Public Finance Management Act.
• Compliance requirements and implications of non-compliance.
• Case Study: Analyzing the impact of a new financial regulation on public entities.

Module 11: Ethics and Governance in Public Finance

• Ethical considerations for financial management in the public sector.
• Principles of good governance and their application to finance.
• Transparency and access to information.
• Accountability mechanisms and oversight bodies.
• Case Study: Addressing an ethical dilemma in public sector financial management.

Module 12: Performance Measurement in Public Sector Finance

• Developing and using financial and non-financial performance indicators.
• Linking performance to budgeting and resource allocation.
• Reporting on performance outcomes.
• Challenges and best practices in public sector performance measurement.
• Case Study: Implementing a performance-based budgeting system.

Module 13: Emerging Trends in Public Financial Management

• The impact of technology on public finance (e.g., digital budgeting).
• Sustainability considerations in public sector finance.
• Fiscal decentralization and management of intergovernmental finances.
• Innovative financing mechanisms for public services.
• Case Study: Exploring the use of blockchain in public financial transactions.

Module 14: Financial Analysis for Decision Making

• Techniques for analyzing financial data and ratios.
• Assessing the financial health of public sector entities.
• Using financial analysis to inform policy decisions.
• Communicating financial information effectively.
• Case Study: Analyzing the financial sustainability of a local government.

Module 15: Public Procurement and Financial Management

• The link between procurement processes and public expenditure.
• Financial controls in the procurement cycle.
• Ensuring value for money in public procurement.
• Legal and regulatory aspects of public procurement.
• Case Study: Identifying financial risks in a public procurement process.

Training Methodology

This training course will employ a variety of interactive and engaging methodologies, including:

• Lectures and Presentations: To convey core concepts and principles.
• Interactive Discussions: To encourage participation and knowledge sharing.
• Case Studies: To apply learned concepts to real-world scenarios.
• Group Exercises: To foster teamwork and problem-solving skills.
• Practical Illustrations: To demonstrate the application of tools and techniques.

Register as a group from 3 participants for a Discount

Send us an email: info@datastatresearch.org or call +254724527104 

 

Certification

Upon successful completion of this training, participants will be issued with a globally- recognized certificate.

Tailor-Made Course

 We also offer tailor-made courses based on your needs.

Key Notes

a. The participant must be conversant with English.

b. Upon completion of training the participant will be issued with an Authorized Training Certificate

c. Course duration is flexible and the contents can be modified to fit any number of days.

d. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

e. One-year post-training support Consultation and Coaching provided after the course.

f. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.