In the rapidly evolving landscape of public sector finance, this cutting-edge program is meticulously crafted to offer a thorough exploration of core principles and essential functions. Non-financial personnel within the public sector frequently find themselves involved in budgetary processes and tasked with interpreting financial reports, making this course indispensable for their professional growth.

This training initiative serves as a practical primer for non-financial managers and a valuable refresher for finance professionals operating within the public sector. It incorporates a crucial update on International Public Sector Accounting Standards Board (IPSASB) guidelines and delves into recent advancements in New Public Management, with a specific focus on the rationales behind and strategies employed in New Public Financial Management.

Objectives of the Accounting & Budgeting for Public Sector Course:

Gain insight into the pivotal role of financial accounting in public sector governance.
Proficiency in preparing accounts in alignment with the IPSASB framework.
Ability to analyze and interpret public sector financial statements.
Utilize forecasting methodologies for effective income and expenditure planning.
Participate actively in the budget formulation process.
Apply capital investment evaluation techniques effectively.
Course Outline for Accounting & Budgeting in the Public Sector
Day 1: Fundamentals of Public Sector Finance

Core Tenets of Macroeconomic and Fiscal Policy
Various Approaches to Public Sector Financial Decision-making
Significance of Public Sector Accounting and Budgeting
Exploring the Dimensions of New Public Management (NPM)
Basics of Financial Accounting
Day 2: Financial Reporting in the Public Sector

Comparative Analysis: IPSASB versus IASB Framework
Unique Attributes of Public Sector Financial Statements
Breakdown of Financial Statement Elements
Reporting Standards Applicable to Public Sector Financial Reports
Recognition and Measurement Principles for Assets and Liabilities
Understanding Public Sector Income and Expense Categories
Day 3: Financial Analysis of Public Sector Accounts

Deconstructing Cost Behavior and Analysis
Cost-Volume-Profit Relationships
Importance of Financial Statement Analysis
Tools for Financial Analysis
Interpretation of Financial Ratios in Public Sector Reports
Addressing and Enhancing Spending Deficits
Day 4: Public Sector Budgeting

Setting Objectives and Outcome Expectations
Utilizing Financial and Non-financial Performance Metrics
Objectives of Public Sector Budgets
Outcome-centric Budgeting in the Public Sector
Budgetary Layers and Forecasting Techniques
Human Elements and Challenges of Budgeting
Principles of Capital Budgeting
Day 5: Capital Investment Decision-making

Characteristics and Decision-making Procedures
Evaluation Techniques for Investment Appraisal
Understanding Discounted Cashflow Analysis
Grasping Net Present Value (NPV) Concepts
Objectives and Decision Criteria for Outsourcing Services
PPI and PFI Considerations
Reforms in Public Sector Financial Management
Evolution of Public Sector Management Reforms
Necessity and Objectives of Financial Reforms
Future Challenges and Opportunities in the Public Sector landscape
By the course's conclusion, participants will possess a comprehensive understanding of public sector financial intricacies, equipped with the skills and knowledge necessary to navigate the complexities of financial management within the public domain successfully.