Accounting & Budgeting for Public Sector

Created by LEC Team
Last updated Mon, 27-Mar-2023
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This training course will certainly supply a valuable functional intro for the non-financial manager as well as a very useful refresher and also upgrade for financing professionals operating in the general public sector. This training likewise includes an important update on International Public Sector Bookkeeping Specification Board (IPSASB) standards as well as current developments in the field of New Public Management, specifically concentrating on the factors for and also approaches to New Public Financial Administration.

Program Goal of Accounting & Budgeting for Public Market


  • Recognize the role of economic audit in public market monitoring
  • Prepare accounts in accordance with IPSASB structure
  • Analyse as well as translate public field economic reports
  • Usage forecasting methods to prepare for revenue and also expenditures
  • Understand as well as actively participate in the spending plan procedure
  • Understand use capital investment assessment methods


Day 1
Fundamentals of Public Sector Finance
  • Basic Principles of Macroeconomic and Fiscal Policy

  • Types of Public Sector Financial Decision-making

  • Purpose of Public Sector Accounting and Budgeting

  • The Dimensions of New Public Management (NPM)

Financial Accounting Basics

  • Basic Concepts in Financial Accounting

  • Cash vs. Accruals Accounting

  • Qualitative Characteristics of Financial Statements



Day 2
Financial Reporting in the Public Sector

  • The IPSASB Compared to the IASB Framework

  • Distinctive Characteristics of Public Sector Financial Accounts

  • The Five Elements of Financial Statements

  • Reporting Standards Relevant to Public Sector Financial Reports

  • Assets and Liabilities: Principles for Recognition and Measurement

  • Nature and Classification of Public Sector Income and Expenses

  • Principles of Public Sector Financial Management



Day 3
Financial Analysis of Public Sector Accounts

  • Understanding and Analysing Cost Behaviour

  • The Cost-Volume-Profit Relationship

  • Why analyse financial statements?

  • The Financial Analyst’s Toolkit

  • Interpreting Financial Ratio Analysis of Public Sector Reports

  • Managing and Improving Spending Deficits



Day 4
Public Sector Budgeting

  • Setting Goals and Outcome Requirements

  • Financial and Non-financial Performance Measures

  • Objectives of Public Sector Budgets

  • Outcome Focused Budgeting in the Public Sector

  • Budget Layers

  • Techniques for Forecasting Income and Costs

  • Human Aspects and Dysfunctional Budgeting

  • Principles of Capital Budgeting



Day 5
Capital Investment Decision-making
  • Characteristics and Decision-making Process

  • Investment Appraisal Techniques

  • Principles of Discounted Cashflow Analysis

  • Understanding Net Present Value (NPV)

  • Outsourcing Services: Objectives and Decision Criteria

  • PPI and PFI: Objectives and Decision Criteria

Public Sector Financial Management Reforms

  • Understanding Public Sector Management Reforms

  • The Need and Purpose of Financial Reforms

  • Key Issues for the Future of the Public Sector

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