Course Description
This intensive 10-day course provides a comprehensive overview of financial management and reporting in the public sector, with a focus on International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS). Participants will gain practical knowledge and skills in budgeting, financial reporting, performance analysis, and decision-making for public sector organizations.
Learning Objectives
- Understand the key principles and applications of IFRS and IPSAS in public sector financial management
- Develop proficiency in preparing and analyzing financial statements for public sector entities
- Master budgeting techniques and performance measurement in government organizations
- Enhance decision-making skills through financial analysis and interpretation
- Gain insights into risk management and internal control systems in the public sector
Course Modules
Day 1: Introduction to Public Sector Financial Management
- Overview of public sector financial management
- Regulatory framework and governance
- Comparison of IFRS and IPSAS
- Public sector accounting reforms
Day 2: IPSAS Framework and Key Concepts
- IPSAS conceptual framework
- Accrual vs. cash basis accounting
- Recognition and measurement principles
- Presentation of financial statements
Day 3: Financial Reporting under IPSAS
- Statement of financial position
- Statement of financial performance
- Cash flow statement
- Notes and disclosures
Day 4: Specific IPSAS Standards (Part 1)
- Property, plant, and equipment
- Intangible assets
- Inventories
- Revenue recognition
Day 5: Specific IPSAS Standards (Part 2)
- Employee benefits
- Financial instruments
- Leases
- Provisions and contingencies
Day 6: Budgeting and Performance Management
- Budget preparation and execution
- Performance-based budgeting
- Budget reporting and analysis
- Key performance indicators (KPIs)
Day 7: Consolidated Financial Statements
- Concepts of control and consolidation
- Preparation of consolidated statements
- Eliminating inter-entity transactions
- Reporting on controlled entities
Day 8: Financial Analysis and Decision Making
- Ratio analysis for public sector entities
- Interpreting financial statements
- Cost-benefit analysis
- Financial decision-making techniques
Day 9: Risk Management and Internal Control
- Risk assessment in public sector organizations
- Designing internal control systems
- Fraud prevention and detection
- Compliance with laws and regulations
Day 10: Emerging Trends and Future Directions
- Sustainability reporting in the public sector
- Digital transformation in financial management
- Integrated reporting
- Case studies and best practices
Practical Wins for Participants
- Ability to prepare IPSAS-compliant financial statements
- Enhanced skills in budgeting and performance measurement
- Improved decision-making capabilities through financial analysis
- Knowledge of best practices in public sector financial management
Credits: 5 credit per day
Course Mode: full-time
Provider: Blackbird Training Centre
