Many Public Service line managers receive little or inadequate training in this competency and some may even be in denial about their important role in managing financial resources. The consequences of poor financial management can seriously harm the financial stability of the service, availability of future funding, ability to deliver services, team morale and relationships between the service and the finance team. Managing incoming funds and knowing the primary sources of these funds is very important for the modern-day management accountant and corporate controller. The ability to control, use and manipulate accounting and cash flow can have a dramatic effect on how well public funds are managed and spent. This practical, highly interactive program will provide you with the necessary skills and techniques to successfully analyze and report the cost contribution to your company’s performance. 

REQUIREMENT:

. The Chartered Public Finance Management Accountant (PFMA™) In order to be authorized to use the CPFMA ™ credential, you must meet the experience, education, ethics and examination requirements determined to be competency measures for Finance.
. The Certification Board for CPFMA ™ Certification has established these standard requirements

PROFESSIONAL EXPERIENCE:

Bachelor’s Degree in Finance, or Any related Business Degree in Finance & Accounting Management from reputable Higher Learning University with at least 1 year experience in a public finance or accounting role OR A Chartered Public Accounting (CPA) designation with more than 2 year work experience in the field public finance or accounting role

PROGRAM

MODULE 1– INTRODUCTION TO FINANCIAL MANAGEMENT

 • The basics of Government finance
• The control of public money
• Where the money comes from and how it is allocated and distributed
• Debt finance
• The need for accountability

MODULE 2 – CASH ACCOUNTING AND FINANCIAL REPORTING SIMULATION

 • Cash accounting
• Accruals v cash accounting
• Link between the Income Statement, Balance Sheet and Cash Flow Statement and finance simulation
• Capital v resource
• Valuation v historic cost
• Financial reporting and financial reporting frameworks
• Migrating to accruals based accounting

MODULE 3 – STRATEGIC PLANNING AND BUDGETING

• Strategic planning
• The annual financial cycle of activities
• Service line planning
• Budgeting
• Budget execution and in year management
• Forecasting

MODULE 4 – PERFORMANCE MANAGEMENT

• Economy, efficiency and effectiveness
• Delivering services in a way which gives value for money to tax payers
• Prioritization of services
• Measuring value for money
• Performance management

MODULE 5 – REVENUE MANAGEMENT

• Sources of revenue
• Generating optimal mix of revenue from different sources
• Revenue budgeting and forecasting
• Pricing goods and services
• Revenue collection and mechanisms for closing revenue leakages
• Bidding for and claiming grants

MODULE 6 – INTERNAL CONTROL & RISK MANAGEMENT

• Risk identification in the public sector
• Risk management
• What is governance
• The link to internal controls
• Types of internal controls
• Effectiveness of internal controls

MODULE 7 – INVESTMENT APPRAISAL AND BUSINESS CASES

• Objective and components of a business case
• Financial and economic case
• Techniques for financial appraisal
• NPV calculations
• Affordability and value for money
• Capital budgets
• Property asset management

MODULE 8 – EXPENDITURE MANAGEMENT AND PROCUREMENT

• The procurement cycle
• Procurement principles and process
• Knowing the market place
• Evaluating tenders to achieve best value for money
• Controls over procure to pay
• Cost containment strategies

MODULE 9 – CONTRACT MANAGEMENT

• The Link to procurement
• Contract administration
• Supplier relationship management
• Managing the supplier’s performance
• Contract end or exit

MODULE 10 – INTERNAL AUDIT

• View of internal audit
• Attributes of an effective internal auditor
• Risk Based internal auditing
• Audit planning and execution
• Audit recommendations

WHO SHOULD ENROL?

This program will benefit Business Owners, Directors, General Managers, Managers, Division Heads, Department Heads and all those who also wish to broaden, sharpen and deepen their skills and knowledge of HR management and its Strategy implications in today business environment.
HR practitioners and non-HR practitioners with HR responsibilities seeking a fast paced review of the role of HR in today’s rapidly-evolving workplace and who wish to broaden, sharpen and deepen their HR management and related competencies