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Course Name: Strategic Financial Management and Effective Budget Execution in Governments

Special offer for group registration:
Number of participants Fees
2-5 $ 700
6 -10 $ 650
11-50 $ 500
> 50 $ 450
To register as a group, contact us through: E: trainings@vitalextralearning.com or give us a call on T: +254707053111
Course Date Duration Location Fee: Registrations
Date: 03/06/2024 - 07/06/2024 5 Days Mombasa, Kenya $ 950 Click to register

Duration

5 Days

Our Contacts:

Email: info@ vitalextralearning.com

Telephone:
+234 (0) 8038 066705,
+234 (0) 9039055940
+254 707 053 111

Website:
www.vitalextralearning.com

Important quick links:
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How to apply
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Course Description

Strategic financial management provides the essential ingredients for achieving a sound budget preparation and execution system in government. This course focuses on the issues and challenges likely to impede the seamless operation of management and financial accounting processes and examines the techniques and tools needed to address them. It will underline what constitutes strategic financial management and effective budget execution within the context of achieving strategic and operational objectives in public governance. The course will enhance understanding of all the key processes within the accounting cycles leading up to the preparation of financial statements, including the use of performance management tools.

 

Learning outcomes

By the end of this course the participants will be able to:

•    Apply strategic financial management to add value to the budget execution process

•    Describe the differences between a management accounting system and a financial accounting system

•    Undertake cost analysis and apply strategic management and costing principles to support improved decision-making

•    Understand types of cost information and how to put that information to best use

•    Design robust and meaningful financial performance measures to help enhance financial control

•    Understand the main processes involved in the preparation of accounts for strategic and operational use by all level of management

•    Appreciate the accounting adjustments which are necessary to transform internal management accounts into statutory and regulatory financial statements

 

Who should enroll?

This course is suitable for managers who are about to take on strategic responsibility financial management and budget execution in governments.

 

Why train with us

Vital Extra Learning guarantees our clients:

•    State-of-the-art facilities and training infrastructure

•    Extended tradition of hand-holding during post engagement

•    Service delivery through highly seasoned industry experts.

•    Value for money

 

TOPICS TO BE COVERED

Module 1

Introduction to Financial Management 

  • Scope, objectives, functions and importance of finance management
  • Organization of finance capitals
  • Working capital management
  • Resource mobilization
  • Evaluation of financing options 

 

Financial Planning 

  • Objectives of financial planning
  • Developing a financial plan
  • Implementation and review of the financial planning.

 

Module 2

Internal Control Systems in Financial Management

  • Organization financial management policies
  • Role of audit
  • Financial fraud
  • Financial spending cross approvals
  • Risk management in project financial management

 

Financial and Management Reporting

  • Importance of financial reporting 
  • Understanding elements of financial statements
  • Financial statements; income statement, balance sheet, cash flow statement
  • Account management

 

Module 3

Integrating Management Reporting 

  • Identifying organizational key success factors
  • Measuring economy, efficiency and effectiveness
  • Developing Key Performance Indicators
  • Use of balanced scorecards

 

Budgeting in Financial Management 

  • Understanding the budgeting process 
  • Functions and types of budgets 
  • Budget development 
  • Budget management 
  • Budget regulations/requirements

 

Module 4

Budgeting in public sector

  • Functions of the budget process
  • Budgetary principles & budget cycle
  • Budget preparation, execution and alterations
  • Cash planning and management
  • Investment budgets and programmes

 

Approaches to Budget Reform

  • Context and issues in budget reform
  • Current initiatives in budget reform
  • Institutional arrangements for better budgetary outcomes

 

Module 5

Financial Management, Accounting and Controls in Public Sector

  • Preparation of government financial statements
  • Accounting for restricted and unrestricted funds
  • Fund accounting and encumbrance accounting
  • Interpretation of financial statements
  • Corruption and fraud issues in public expenditure
  • Capital budgeting and project financing
  • Auditing and financial control
  • Public expenditure monitoring and tracking and the role of the auditor general
  • Computerised application in recording transactions and presentation of information

TRAINING CUSTOMIZATION

This training can be customized for your institution or delivered at your preferred location upon request. For training customization, contact us through
Email: info@ vitalextralearning.com
Telephone:
+234 (0) 8038 066705,
+234 (0) 9039055940
+254 707 053 111

LANGUAGE
English

_ Nigeria _

Register for any of our short courses and get a lifetime opportunity to visit Jabi Lake/Mall for a 1 day full of fun. You will have the pleasure of enjoying panoramic view of Abuja city, speed boat riding and Nigerian best dishes. All for free!

OUR APPROACH – TADs
We THINK
We ANALYSE
We DEVELOP AND DELIVER SOLUTIONS that satisfy our clients