Advanced Accounting and Auditing for Public Sector Organizations

Course Outline

Course Title: Advanced Accounting and Auditing for Public Sector Organizations

Learning Objectives

The main objective of this course is to give delegates a good understanding of public sector financial management. By the end of the training delegates will have acquired the following skills;

  • The financial planning cycles of government and other public sector organizations
  • How to understand and interpret financial information Basic accounting concepts
  • The elements of sound financial management in public sector organization
  • Resource allocation and costing
  • Budgeting in organizations
  • Budget reallocation and cuts
  • Cash forecasting
  • Management control
  • Elements of financial accountability both within public sector organization and outward to the public
  • Reporting
  • Accountability
  • Internal and external oversight
  • Financial Management of Donor funded projects

Main Training Modules

 Becoming a Financially Literate Manager in Government & other public sector Organizations.

  • Financial Management in the Public Sector Context
  • The public sector financial landscape
  • The Financial Management Framework
  • Financial literacy – personal and organizational

 

 

 

 Accountability and Risk: Key Concepts in Framing Financial Management

  • Nature of public sector accountabilities and views of risk: public versus private?
  • Architecture of accountability in the financial management context
  • Conceptual framework for risk
  • Risk management – concept and process
  • The concept of financial risk.
  • Risk in operations and financial control

Public Sector Accounting Principles/Accrual Budgeting and Accounting and Accrual Accounting and Budgeting

  • Defining accounting – and some history
  • Financial accounting and management accounting
  • Users of accounting information: internal and external
  • Accounting standards: GAAP/IFMS – basic principles
  • Understanding the cash and accrual basis for accounting
  • Key definitions in accounting statements

Understanding and Using Financial Statements Financial Statements

  • Double entry accounting
  • Accounting Cycle
  • The fundamental accounting equation
  • Journal and ledger functions: getting numbers right
  • Debits and credits, T-accounts
  • Core financial statements:
  • Balance Sheet/ Statement of financial position
  • Income Statement/ Statement of operations
  • Cash Flows
  • Changes in Net Debt
  • Management Discussion and Analysis
  • Relationship of Financial Statements to external reporting and internal use.

 Planning & Budgeting.

  • Understanding what a budget is in financial management terms, in policy terms and in operational terms
  • Budget architecture:
  • Budgets by general purpose: Operating and capital budgets
  • Types of operating budgets: line, function, program, performance o Flexible versus fixed budgets
  • Off budget expenditures and funds
  • Budget cycles
  • Budgets as a control tool

Financial Management in the Public Sector

  • Cutting Your Budget: Reductions and Reallocations Taking It Back: Reallocation and Budget Cutting
  • Reallocation in the budget process: internal and external
  • Strategic reviews around the world
  • Cutting tools: how to cut
  • Risks, consequences and sustainability
  • Practical considerations for budget managers

Management Control: A Risk Based Approach Managerial Control

  • The concept of managerial control
  • Risk and risk management
  • Management Control Framework – why and for whom?
  • Management Control Process
  • Core concept of variance
  • Materiality and due diligence
  • Tools of control

Cash Management Financial Management in the Public Sector

  • Cash Management: In-Year Budget Control and Monitoring
  • Defining Budget Management
  • Objectives of Effective Budget Management, Monitoring and Control
  • In-Year versus Plan Management
  • Forecasting on a Cash Basis: Cross Walking from Accrual Budgets
  • Discontinuities between Budgets and the Ability to Plan
  • Establishing a Budget Management System
  • Preparing a Budget Plan
  • Arriving at an Adjusted Budget
  • Estimating Budget Performance for the Reporting Period
  • The Basis of Forecasting
  • Monitoring Financial Performance and Variance Analysis

Reporting and Accountability

  • External Reporting and Accountability Confirming Control: Accountability and Reporting
  • Objectives of financial and performance reporting: external and internal
  • Reporting to account and reporting to manage
  • Public sector reports – range and use
  • Creating good measures, creating clear measures
  • Integrating financial and non-financial performance data
  • Balanced Scorecard-type systems of reporting: wonders and warts

Audit and Oversight in Managing Your Money

  • What is audit, how it supports management and how it has to be independent to do that
  • Risk in determining what to inspect, oversee and audit o Components of audit risk o Materiality
  • Forms of oversight – internal and external

Grants Management & Internal Compliance.

  • Identify and understand the critical terms and conditions of grant aid; for donor-funded projects
  • Ensure compliance with donor terms and conditions;
  • Providing supporting documents, correct procurement of goods and services and meeting financial reporting requirements;
  • Managing multiple-funded programmes
  • Provide tools for efficient Management of Donor- funded project
  • Describe the phases in the grant management cycle clarify key responsibilities and routines needed for successful grant management;
  • Identify the requirements for closing off a donor grant;

Way forward After the Training

Participants will develop a work plan through the help of facilitators that stipulates application of skills acquired in improving their organizations. ASPM will monitor implementation progress after the training

 

Training Evaluation:

Participants will undertake a simple need assessment before the training to identify the knowledge gaps and also after the training so as to monitor knowledge and skills gained through the training

 

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