The Fundamentals of Public Sector Finance (2 days)

Introduction

This two-day interactive workshop is designed to give you practical skills in accruals accounting (and making the transition from cash accounting if appropriate) in any public sector organisation. It will also help you understand how public sector bodies are allocated money to use a variety of resources to deliver their objectives, using the UK as good practice. It will help you to understand the behaviours that public sector finance staff should demonstrate as well as providing you with models to take back to the workplace to ascertain whether services are provided in a way that delivers good value for money. The workshop allows you the opportunity to try out techniques in a safe environment so that you can adapt and use them for the specific circumstances in your own organisation.

At the end of this workshop you will:

• have practical models you can take back to your organisation;
• be equipped to produce accounts consistent with internationally accepted best practice;
• be able to demonstrate the ethical behaviours and values that are fundamental when dealing with and managing public money;
• be able to help colleagues improve how they deliver good value for money services and to evidence it.

Please note that this course is part of a more comprehensive public financial management programme which lasts 9 days. Click the links for more details.

Please note that this course is one in a series of management accounting titles. See all related courses below:

• The Public Sector Bootcamp (9 days)
• Planning & Budgeting in the Public Sector (1 day)
• Implementing Effective Controls in the Public Sector (2 days)
• Working with Suppliers to Deliver Public Sector Projects and Services (3 days)
• Communicating Financial Information Effectively in the Public Sector (1 day)

Learning Objectives

• To understand how to produce compliant informative accounts in an efficient way
• To understand how to help colleagues to improve the economy, efficiency and effectiveness of their service delivery
• To know how to demonstrate the required behaviours of a public sector finance professional

Who Should Attend

The course is aimed at junior finance professionals in the public sector, those in charge of public services or budgets or anyone else who would benefit from an improved understanding of public sector finance. You are likely to:

• Have some contribution to or responsibility for producing financial information
• Have a desire to be able to demonstrate that your service area is well run
• Be interested in the financial performance and position of your organisation

Topics

• Day 1 am – Introduction to public sector finance
  • What is public sector financial management
  • Role of finance staff in that process
  • Accountability and managing public money
  • Expected behaviours of finance staff
  • The allocation of central resources using UK as good practice
• Day 1 pm – Public sector financial reporting
  • Flow of information and users of financial reports
  • Cash accounting
  • Accruals v cash accounting
  • Key financial statements in accruals accounting
• Day 2 am – Public sector financial reporting continued
  • IPSAS – accruals accounting standards
  • Public sector specifics
  • Asset accounting
  • Non exchange transactions
  • Migrating to full accruals based IPSAS
• Day 2 pm – Delivering value for money services
  • What is value for money?
  • Assessing and measuring value for money
  • ResourcePrioritisation
  • ProcessImprovement and Efficiency

Teaching Method

• Group instruction, discussion and illustrative examples
• Practical workshop exercises using realistic scenarios, case studies, examples of best practice and the models you can use back in the workplace
• All participants will receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials

Instructors

Venue

CPE/CPD Accreditation

IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org .

 

Field of study: Accounting

Prerequisites

No advance preparation is required for this course.