Finance for the Public Sector

The University of Auckland Business School
Auckland, New Zealand

Course Format: Classroom | E-learning | Virtual Class | Online/Live | On-site/In-house | Blended | Self-paced

Course Description:

'' This course is specifically aimed at non-Financial managers in the Public Sector, including Local Government, who are responsible for preparing or managing budgets and need to understand ‘the numbers�to make effective business decisions. It would also be suitable for managers of ‘not for profit�organisations who are continually being challenged to get more out of their limited resources.
Often the language of Finance is seen as an entry barrier. We will try and overcome this by explaining key concepts and commonly used terms.

Each participant will receive a copy of "Simply Finance" by Susan Hansen, Bateman 2008.

Why you should attend this course
Accountability and informed decision making are core themes in the Public Sector.

It is not uncommon for people to be given a budget to prepare, manage and/or review without having the necessary skill base. Not only is this stressful and inefficient, it can also lead to incorrect decision-making.

Acquiring basic financial management skills is going to lead to better, more efficient utilisation of resources. You will also find it empowering to understand the drivers behind the budget to see where you can make a difference and how. Seeing the ‘big picture�of the Financial Accounting model will help you understand the parameters within which the Public Sector operates.

Topics Covered
Understanding the Financial Management Structure
Financial Management supports and assists management to link strategy to financial objectives, to make informed decisions and to ensure accountability.
Generally Accepted Accounting Practices (GAAP) is central to the Public Sector’s financial management system. Understanding GAAP is an essential skill for any manager responsible for any of the links in the financial management system, such as preparing and/or reviewing budgets, implementing benchmarking practices and demonstrating progress made towards achieving fiscal targets.

Understanding Financial Accounting
This course outlines the principles of GAAP and the accounting concepts, such as accruals. It is not trying to make you into an accountant, but will help you to understand the financial impacts of your decision making.
You will also be given a framework to help you understand any organisation’s Annual Report, including that of your own organisation. You are invited to bring your own organisation’s Annual Report to assist you in applying your learning.

Understanding Management Accounting
It is the Government’s premise that Government organisations should be as efficient and effective as those in the private sector. Understanding costs and implementing good cost allocation systems is fundamental to achieving this objective. Different cost allocation systems will be identified and evaluated with as much practical application as possible.

Planning & Budgeting
Understanding the basics of budgeting gives confidence in questioning and challenging budgets that are under review. The machinations of preparing budgets are reasonably straightforward, the challenge is getting the appropriations right. We will discuss the most reliable techniques and apply them to practical examples.
It is also essential when budgets are being prepared that there is a clear link to strategy. There are many tools that have been developed to ensure the budget links to strategy, which we will discuss. We will review key budgeting and forecasting techniques and discuss the pitfalls that need to be avoided.
We will also look at the most appropriate ways to analyse and interpret variances in order to add value to the organisation.

Capital Budgeting
Alternative techniques to evaluate Capital Budgeting expenditure, or Capex will be evaluated. In particular we will look at the Discounted Cash Flow technique, which involves a review of forecasting techniques and understanding the Capital charge, or discount rate.

...''

Elements of this syllabus are subject to change.

Phone:0800 800 875

School Address/Venue(s):

The University of Auckland - Business School,
Graduate School of Enterprise.
Private Bag 92019, Auckland
New Zealand

Jobs & Resumes: Auckland
Houses & Roommates: Auckland
Travel Agencies: Auckland

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