Public Sector Finance Fundamentals

This introductory one-day course provides you with an understanding of the fundamentals of the New Zealand Government financial management systems and processes.

Recommend course:

Description

This introductory one-day course provides you with an understanding of the fundamentals of the New Zealand Government financial management systems and processes.

Who should attend:

Anyone who works in government departments, crown entities or non-governmental organisations that interact with the Government, and requires an introduction to the government financial management systems and processes.

If you also need to know more about the wider government budget processes then check out Understanding Financial Management and Budgets in the Public Sector.

Learning objectives:

  • Learn key concepts underpinning the financial management system and how these are reflected in financial recommendations in policy initiatives.
  • Understand the accountability framework, including the roles of the Treasury, Ministers, auditors, Select Committees in the accountability cycle, that creates the context within which staff are empowered to expend resources.
  • Examine the art of accounting: the terminology; how the numbers are built on assumptions, estimates and biases; the difference between accrual and cash reporting, and how this impacts on the performance of your public sector organisation.
  • Understand the difference between operating and capital expenditure, the importance of depreciation, and the cost of capital.

Course outline:

  • Understanding the concepts
  • The Government—what types of entities?
  • Concepts underlying the Government’s financial system:
    • Purchase/ownership
    • Inputs, outputs, outcomes
    • Departmental/non-departmental
    • Capital/expense.
  • The accountability framework
  • Understanding financial information
    • Accounting reports and how they can help you manage your resources.
  • Using accounting concepts to help you manage
    • What are accruals?
    • Concepts—revenue and expenses, assets, liabilities
    • Importance of accounting policies
    • Depreciation, provisions and capital charge
    • Cost allocation
    • Reporting standards
    • The link to financial recommendations in policy initiatives
  • Incentive effects in reporting
    • How does accounting information affect behaviour?

Course format:

This course emphasises the practical application of the financial concepts covered. Real-world examples will be used.

Presenter:

Lynley Hutton

Further details:
If you would like more information about this programme, please contact us on:
Ph: 64 4 463 6556 Email: profdev@vuw.ac.nz

Customised workshops:
Victoria Professional and Executive Development are able to customise many of our workshops to meet specific individual or organisational requirements. Please contact us for further information.

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