This course (Public Finance Management Training Course or Public Finance Management Course) involves
- Demonstrating an understanding of the key concepts of managerial finance.
- Interpreting financial statements.
- Drafting financial forecasts.
- Drafting budgets according to operational plans of the unit.
- Supervising the financial management of a unit against given requirements.
The objective of the Public Finance Management Act is “To control monetary management in the nationwide government and provincial governments;to make sure that revenue, expense, liabilities and assets of those government are handled effectively and efficiently; to describe the duties of individuals delegated with monetary management in government; and to attend to matters linked therewith.”
The Challenge Johannesburg (Sandton), Cape Town, Durban, Port Elizabeth, Pretoria – South Africa
Public Finance Management is key to ensure that one complies with the laws of the country and one practices proper corporate governance.
The Solution (Public Finance Management Training Course – Public Finance Management Course: Johannesburg (Sandton), Cape Town, Durban, Port Elizabeth, Pretoria – South Africa)
The outcomes of the course (Public Finance Management Course) include:
- Explain the concept of budgeting pertinent to an area of responsibility. The concept of a budget is explained with reference to expenditure in an area of responsibility. The budgeting technique employed is explained by means of worked examples. Budgeting techniques may include, but are not limited to, forecasting based on historic data, and zero-based budgeting.
- Determine the elements of a budget in an area of responsibility. The elements of the budget are identified for the resources required to meet the objectives. Internal and external constraints on a budget are identified in terms of an own organisational context.
- Monitor and control actual expenses against budget. Actual expenses are monitored according to Standard Operating Procedures. Variances are identified and corrective measures are proposed and/or taken according to Standard Operating Procedures.
- Demonstrating an understanding of the key concepts of managerial finance. The accounting cycle is explained by means of a diagram. The financial reports published by the manager’s entity are explained with examples.
- Financial statements are analysed, using data sources identified and evaluated for authenticity and accuracy.
- Recommendations are made regarding the profitability of, liquidity, working capital, return and resource utilisation by the entity using the results obtained from the application of the ratios.
- Describe and prepare financial forecasts. The types and formats of financial forecasts are identified with examples. Sources of financial forecasts are identified as per the entity’s standard practice. Factors in preparing financial forecasts are outlined in line with entity’s standard operating procedures.
- Draft budgets according to the operational plan of the unit. Budget plans are linked to operational objectives. Operational objectives are established in line with the unit’s strategic plan.
- Supervise financial management of a unit against given requirements. Monitoring systems are agreed and adhered to, according to standard operating procedures.
All delegates (for Public Finance Management Training Course: Public Finance Management Course:Johannesburg (Sandton), Cape Town, Durban, Port Elizabeth, Pretoria – South Africa) will receive:
- Material, refreshments (lunch, tea), after training assistance for 3 months (Public Finance Management Training Course)
- Memory stick (with relevant tools and models that can be easily accessed when applied back at work) (Public Finance Management Training Course)
Public Finance Management Training Course is an essential skill.
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