Program Overview

The countries improve public financial management systems as they are important for democratic governance, macroeconomic stability, effective use of resources available and poverty reduction. Public Financial Management is an essential part of the development process. Sound PFM supports aggregate control, prioritization, accountability, and efficiency in the management of public resources and delivery of services, which are critical to the achievement of public policy objectives. This program provides the necessary context to foster efficient and effective tax systems, results-driven budgeting, transparent and accountable public expenditure management, and robust macro-fiscal planning, optimising public sector performance and contributing to broad-based, sustainable economic growth.

Target Audience

Advanced Public Financial Management Workshop in Bucharest, Romania is suitable for:

• Public sector finance staff from around the world
• Financial Managers, Officers and analysts who are interested or involved in Public Sector
• Part qualified and qualified accountants who want to move into public sector roles.

Program Objectives

By the end of this course the delegates will gain strong understanding of advanced public financial management and be prepared to work directly with financial professionals and auditors in public or third sector organizations.

• Understand various types of financial analysis
• Understand the different financial evaluation methods used to support submissions for new initiatives
• Implement a financial management plan for an organization or agency
• Create a set of financial controls for accountability
• Link the financial management structure to the strategic plan
• Predict long term revenue and expense requirements, and Benefits to you
• Thoroughly analyze and evaluate the finances of organizations, teams, projects and specific initiatives.

Program Contents

• Introduction and Foundations of Public Finance
• Understanding government funds
• Role of profits in different organizational structures
• Capital Budgets VS Operating Budgets
• Calculating Time value of money over different periods
• Strategies for debt VS capital financing
• Developing asset management plan for the organization
• Detecting and explaining budgetary variances
• Implementing fiscal controls for an organization
• Local Government Financial Reporting
• Types of financial reports to be used for different circumstances
• Interpreting and analyzing the different sections of financial reports
• Developing any additional funds necessary to provide improved accounting
• Describing the difference of government from other public organizations, financially
• Creating the balance sheet based financial analysis, income, and other financial statements
• Creating long-term funding plan for the organization
• Memo on a Nonprofit Annual Report
• Different types of financial analysis (with public sector focused)
• Financial evaluation techniques
• Improving the presentation of numbers
• Prerequisites for Managing Budget and Financial Plans
• Developing financial sustainability; effective resource development and management.
• Improving financial risk management
• Long term financial planning; developing a reserve fund
• Dealing with an audit
• Developing and implementing effective financial controls
• How to interpret information in basic forms and reports
• How to notice trends and negative indicators
• Actions to counteract negative information and trends.

Program Methodology

The presenter will use various modern adult learning techniques in order to achieve successful results for the attendees. Focus will be made on practical activities and tools, in order to ensure the instant appliance of material covered. The methods used will include presentation, open discussion, group assignment, individual tasks and field visit. The consultant will encourage maximum participation of delegates and request feedback after every session in order to improve the delivery of program contents.