Course Details
Understanding Public Sector Finance
6 Dec 2013
Professional Development
Accounting / Finance
Victoria University Professional and Executive Development
Rutherford House, 23 Lambton Quay, Wellington City
Full Day
9:00am - 4:30pm
9:00am - 4:30pm
$675.00
Early Bird Discount available until 28 days prior to the course start date $607.50 excl GST
Early Bird Discount available until 28 days prior to the course start date $607.50 excl GST
Overview:
The art of finance can be daunting to the uninitiated manager. This practical one-day course provides you with a sound grounding in the fundamentals of finance in the public sector.
Who Should Attend:
Public sector managers who work in government departments; crown entities or non-governmental organisations that interact with the Government and require an understanding of government information and processes.
Learning Objectives:
* Learn key concepts underpinning the financial management system and how these provide the framework for financial recommendations in policy initiatives. Understand the accountability framework.
* Understand the roles of the Treasury, Ministers, auditors, Select Committees in the accountability cycle.
* Learn about the context within which staff are empowered to expend resources.
* Examine art of accounting - the terminology, and how the numbers are built on assumptions, estimates and biases and the difference between accrual and cash reporting.
* Learn the difference between operating and capital expenditure and the importance of depreciation and the cost of capital.
* Gain familiarity with accrual information and how to use it to understand the performance of your public sector organisation.
Course Outline:
* Understanding the concepts
* The Government - what types of entities?
* Concepts underlying the Government's financial system:
o Purchase/ownership
o Inputs, outputs, outcomes
o Departmental/non-departmental
o Capital/expense.
* The accountability framework
* Understanding financial information:
o Accounting reports and how they can help you manage your resources.
* Using accounting concepts to help you manage: what needs to be included in the costing for policy proposals and/or how to manage a budget
o What are accruals?
o Concepts - revenue and expenses, assets, liabilities
o Importance of accounting policies
o Depreciation, provisions and capital charge
o Cost allocation
o Reporting standards
* Incentive effects in reporting
o How does accounting information affect behaviour?
Course Format:
This course emphasises the practical application of the financial concepts covered. Real-world examples will be used.
The art of finance can be daunting to the uninitiated manager. This practical one-day course provides you with a sound grounding in the fundamentals of finance in the public sector.
Who Should Attend:
Public sector managers who work in government departments; crown entities or non-governmental organisations that interact with the Government and require an understanding of government information and processes.
Learning Objectives:
* Learn key concepts underpinning the financial management system and how these provide the framework for financial recommendations in policy initiatives. Understand the accountability framework.
* Understand the roles of the Treasury, Ministers, auditors, Select Committees in the accountability cycle.
* Learn about the context within which staff are empowered to expend resources.
* Examine art of accounting - the terminology, and how the numbers are built on assumptions, estimates and biases and the difference between accrual and cash reporting.
* Learn the difference between operating and capital expenditure and the importance of depreciation and the cost of capital.
* Gain familiarity with accrual information and how to use it to understand the performance of your public sector organisation.
Course Outline:
* Understanding the concepts
* The Government - what types of entities?
* Concepts underlying the Government's financial system:
o Purchase/ownership
o Inputs, outputs, outcomes
o Departmental/non-departmental
o Capital/expense.
* The accountability framework
* Understanding financial information:
o Accounting reports and how they can help you manage your resources.
* Using accounting concepts to help you manage: what needs to be included in the costing for policy proposals and/or how to manage a budget
o What are accruals?
o Concepts - revenue and expenses, assets, liabilities
o Importance of accounting policies
o Depreciation, provisions and capital charge
o Cost allocation
o Reporting standards
* Incentive effects in reporting
o How does accounting information affect behaviour?
Course Format:
This course emphasises the practical application of the financial concepts covered. Real-world examples will be used.