This two-week programme combines:
Strategic Financial Management: Frameworks, Principles and Practice 05 days
Effective Budget Execution: Critical Processes and Strategic Drivers 05 days
This toolkit is designed to enhance delegates’ understanding of all the key strategic financial management processes which fall within the budget cycle, including the use of performance measurement techniques. The course will focus on the issues and challenges which impede the seamless operation of management and financial accounting processes, and examine the techniques and tools needed to address them. It will highlight what constitutes strategic financial management and effective budget execution, aimed at achieving the organisation’s strategic and operational objectives.
In the first week, delegates will explore processes within the formulation, preparation and approval stages of the budget cycle through looking at the prevailing medium-term budget contexts and legal framework.
In the second week, the course will examine procedures and activities during execution of the budget, covering budget control, accounting and reporting and oversight of financial management operations.
On completion, you will be able to:
- Understand the principles and practices involved in applying the medium term budget frameworks
- Appreciate the public financial management reform context of strategic financial management
- Design relevant performance measures to monitor achievement of policy objectives
- Apply strategic financial management to add value to the budget execution process
- Describe the components of management accounting and its inter-connections with financial accounting
- Undertake cost analysis and allocation, and design and implement a Chart of Accounts (COA)
- Budget formulation, preparation, approval and execution processes
- The framework of management control and expenditure monitoring
- Medium-term budget frameworks
- Traditional financial reporting and results-based performance measurement
- Results-based monitoring and evaluation
- Role, design and implementation of the Chart of Accounts (COA)
- Procurement principles and importance for public financial management
- Costing principles and techniques
- Effective cash management and treasury and cash management integration
- Integrated financial management information systems
- Sources of finance including the use of Public-Private Partnerships (PPPs)
All courses will be conducted entirely in English. A proficient level of both spoken and written English is required by all delegates so that they are able to fully benefit from the course and participate in our interactive style of training.