Certificate in Public Budgeting and Financial Management Course

Why Select this Training Course?

In many countries, reform initiatives in the public and private sectors begin and end with new budgeting and financial management approaches. Significant in developing and emerging countries are better budget procedures and creative financial management approaches in the face of rising demands for more incredible service delivery and the difficulties of dealing with budgetary emergencies and fiscal shocks.

What are the issues of public financial control?

Some challenges that public sector financing faces include lack of proper planning, issues with surpluses, the raising of loans, cost of capital, budgeting, and delegation of authority.

What is the importance of budgeting for the public good?

A budget is essential to the public as it assists the government in focusing correctly on the organizations in the public sector, which help it in introducing principles that assist it in development.

The Certificate in Public Budgeting and Financial Management Course by Rcademy will give you a beneficial practical introduction to public budgeting and financial management. This course comprises the latest budgeting and finance management standards and the current finance and budgeting management growth. Selecting to study this course at Rcademy is essential to assist you in having the necessary skills and knowledge for the success of your organization. It is an interactive course for financial and non-financial experts and will show how the current budget and finance industry works. For any organization, the primary factors are liquidity. In addition, profitability and economic structure are essential for continuous competitiveness and success. Therefore, these three aspects are comprehensively analyzed and created at all stages of the business process. You will have the chance to study accounting and the budgetary process of recording and reporting entity transactions and how they get summarised as periodic financial reports according to statutory needs. You will also learn how these financial reports get evaluated by different user teams.

Who Should Attend?

The Certificate in Public Budgeting and Financial Management Course by Rcademy is ideal for:

• Finance managers
• Project professionals
• Supply-team professionals
• Marketing and sales executives
• Human resource professions
• Senior professionals in marketing, manufacturing, and engineering
• Consultants who collaborate with the executives and professionals to help create the financial and operational process
• Department budget holders
• Planning managers
• Public sector purchasing and procurement leaders
• Public sectors budget accountants
• Finance accountant group members
• Ministry assistants and department officers

What are the Course Objectives?

The objectives of The Certificate in Public Budgeting and Financial Management Course by Rcademy are to enable professionals to:

• Learn how to assess investment projects with the use of different appraisal techniques
• Learn how to use budgetary management to compare the real against the planned performance and to recognize the corrective actions
• Learn how to apply the finance and accounting language to communicate effectively with other financial professionals
• Determine the nature and role of the financial statements

How will this Course be Presented?

The public budgeting and financial management program at Rcademy uses challenge-based learning in tackling real-life challenges, which are essential for the participants’ acquisition of knowledge and skills. There is also an incorporation of discussions, peer-to-peer teaching, and exams, which will assess the participants’ knowledge acquisition. There are also in-depth instructions for all the activities in this program at Rcademy. Furthermore, Rcademy will ensure that it exposes the participants to many learning methods to prepare them for the uncertain and agile future worldwide.

What are the Topics Covered in this Course?

Module 1: Basics of the Public Sector Finance

• Fundamentals of the Macroeconomic and fiscal policy
• The goal of public sector budgeting and accounting
• Categories of public sector financial decision making
• The aspects of the new general management (NPM)
• Basics of financial accounting
  – Accruals vs cash accounting
  – Fundamental elements in financial accounting
  – Qualitative traits of financial statements

Module 2: Financial Evaluation of Accounts in the Public Sector

• Reason for analysis of financial statements
• Analyzing and understanding the cost character
• The cost volume profit association
• Interpreting financial ratio analysis of the reports in the public sector
• The toolkit for financial analysis
• Improving and managing the spending deficits

Module 3: Financial Broadcasting in the Public Sector

• The unique traits of the financial accounts in the public sector
• Reporting principles associated with financial reports in the public sector
• Liabilities and assets: rules for the measurement and recognition
• The five aspects of financial statements
• Classification and Nature of public sector expenses and Income
• Rules of financial administration in the general area

Module 4: Capital Investment in Decision Making

• Behavior and decision-making activity
• Rules of the discounted cash flow evaluation
• Investment appraisal models
• Outsourcing services: decision and objective model

Module 5: Reforms in Financial Control in the Public Sector

• Fundamental Challenges in the public sector in the Future
• The goal and the need for economic reforms in the general population
• Knowing of the public sector control reforms

Module 6: Accounting in the Public Sector

• Monetary and non-monetary costs and income
• Results-focused on budgeting in the public
• Goals of the public sector budgets
• Financial and non-financial performance factors
• Outcome requirements and goal setting
• Outcome focused budgeting
• Dysfunctional budgeting and human factors
• Rules of capital budgeting

Module 7: The Role of Finance and the Business Environment

• The purpose and the uses of finance management
• The business surrounding
• Terminologies in finance
• The income statement-financial performance
• The dual-entry accounting system
• Cash flow vs profit
• The balance sheet-financial position
• Benefits of financial and accounting information
• The cash flow statement- the origin of the money and uses
• The connection between the income report, cash flow account, and the balance sheet

Module 8: Break-Even and Budgeting Analysis

• The importance of cost analysis-labor, material, and overheads
• Accounting management- the internal perspective
• The break-even point and cost/volume/ profit (CVP) evaluation
• Various budgeting techniques- are they associated with your organization
• Arrangement and adoption of your budget
• Using the CVP evaluation to make good decisions, the company
• Determining if budgeting is a good management model
• Understanding overheads and how to manage them in decision-making and internal analysis

Module 9: Capital Investment and Budgetary Appraisal

• The variance analysis and standard costing
• Budgetary management with monthly control reports
• Internal development methods- category of capital investment
• Case study on measuring and understanding variances
• Discounted cash flow appraisal models
• Practical Challenges to Consider in cash flow appraisal methods
• Investment appraisal exercises with the use of spreadsheets

Module 10: Financing of an Organization and Re-Planning Methods

• Financing the business-when and why
• Financing goals, debt vs equity
• Types and sources of finance
• Review of external development methods
  – Acquisition, mergers, and joint ventures
  – Determination of the price of long-term finance-the price of capital techniques
  – Cost of equity (KE)- capital asset pricing technique
  – Cost of equity (KE)-dividend evaluation model
  – Weighted average costs of capital (WACC)
  –  Cost of debt (KD)