This course will provide you with a broad overview of the key governance processes used in the Public Sector when formulating budgets. It will also assist you to understand the linkages between the whole-of-government budget processes and organisational budgets.
Public Sector context -The whole-of-government governance principles (including examples of rules, legislation and accountability mechanisms)
Budgeting framework - The approach used in setting Public Sector budgets (including the external whole-of-government contexts and key outputs)
Organisational budgeting - The purpose of organisational budgeting and various accountability and transparency mechanisms; how the internal organisation budget links to the whole-of-government process; the approach, systems and techniques of internal budgeting; common issues in the budgeting process and how these might be overcome
Budget estimation and forecasting - How the set budget is managed over time, aligning the financials with future expectations
Performance reporting - A typical reporting framework, and how budgets are analysed to provide insight as well as information
Budget modelling practice - Preparing detailed budgets
Glossary and abbreviations - The common language used by the Public Sector in managing budgets
Explain the context, framework and governance elements of Public Sector budgeting
Assess the appropriateness of the principle budgeting techniques for Public Sector organisations
Implement budgeting techniques using basic scenarios
Outline the forecasting and performance reporting elements
Analyse your own organisation’s budgeting processes and identify opportunities for implementation of improvements
Communicate budgets and budgeting processes to relevant stakeholders
This course has been specifically designed for finance and accounting professionals working in the Public Sector.