Certificate in Public Financial Management (PFM) Training Course

Why Select this Training Course?

The nature and extent of government expenditures are undergoing significant transformation. Public sector professionals rely on the norms of PFM as the foundation for overall financial management; thus, familiarity with these guidelines is essential. This Public Financial Management course is designed to expose learners to the fundamental concepts and procedures of the expanding field of public sector finance. The non-financial public sector workers and leaders are commonly needed to input the budget activity and replay the data presented in the departmental financial documents. This Rcademy course focuses on participants who want to improve their knowledge and skills in the practical application of financial control. The course modules address the finance, valuation, risk management, and investments fundamental to the financial management of industries, letting learners get a high level of experience in these areas.

Public finance management controls capital within the public sector, including federal and state government agencies, ministries, and municipal authorities. This Rcademy program comprises the best financial evaluation and planning practices using economic concepts. These concepts include the time value of money and financial performance ratios, security and valuation of organizations, risk and return, capital cost, working with capital control, and long-term financial budgeting. This Rcademy curriculum seeks to provide learners with the skills and understanding of fundamental economic concepts to improve their financial decision-making in an ever-changing market. Furthermore, it will ensure that the participants understand how their decisions impact their organization’s financial performance.

Public financial management factors include external audit security, budget formulation, reporting, accounting, and budget execution.

The Certificate in Public Financial Management (PFM) Training Course by Rcademy will give participants an in-depth and detailed understanding of theoretical and practical factors of financial control in government entities. Participants will gain an understanding of how the application of public financial management aids in the assessment, monitoring, and documentation of financial risk in support of collective decision-making, operational effectiveness, and adherence to governing policies. They will be able to learn about the legislative requirements for financial reporting in the public sector by studying the recorded activities and reports of such transactions. Also, they will be educated on the various PFM strategies.

Who Should Attend?

The Certificate in Public Financial Management (PFM) Training Course by Rcademy is ideal for:

• Policymakers working in the public sector
• Envois, Diplomats, and Ambassadors
• Auditors with a role in the supreme auditing organizations
• Accountants working in public sector entities
• Various government officials
• Policymakers and government financial planners

What are the Course Objectives?

The objectives of The Certificate in Public Financial Management (PFM) Training Course by Rcademy are to enable professionals to achieve the following:

• Understanding of the challenges involved in budget implementation
• Determine how to implement the internal management principles in budget adoption
• Learning how to assess the regulations adopted and how to take the corrective actions
• Understanding of the budget planning techniques
• Understanding the cycle of public financial management (PFM)
• Determining the various challenges associated with the sequencing and prioritization of PFM changes and the issues faced in the execution of these reforms
• Understanding the simple medium terms budget design, public investment control reform, and cash control plan methods
• Determining how to evaluate the budget cycle and its essential factors
• Understanding why PFM is a crucial equipment to adapt to the public policies
• Determining how the civil community, supreme audit organization, and public engagement maintain the government accountability
• Understand the role of the situations and the political institutions in structuring and adopting reforms

How will this Course be Presented?

This Rcademy course will involve several teaching techniques with professional instructors that will give a good presentation and analysis of the critical concepts of the unit. In addition, there will be several learning activities, such as:

• Question and Answer chances,
• Presentations
• Analytical Practice Models
• Demonstrations
• Team Exercises
• Illustrations using current market and company data sources
• Case Studies

While there will be an explanation and justification of the theoretical background of financial control, the main focus will be on implementing the actual world concepts by giving a practical toolkit of the methods in finance.

What are the Topics Covered in this Training Course?

Module 1: Overview of the Public Financial Management (PFM)

• Fiscal policy
• Goals of general financial control
• Budgetary cycle
• Public financial management design 

Module 2: Strategy of Budgeting

• Revenue control
• Budgeting and budgeting models
• Project management

Module 3: Formulation of Budget

• Yearly budget
• Medium-term budget

Module 4: Approval of the Budget

• Legal factors of budget approval
• Legislative approval
• The budgeting approval acts

Module 5: Budget Implementation

• Cash planning
• Budget execution process
• Budget execution method
• Procurement
• Debt control

Module 6: Internal and Accounting Management

• Financial management information design
• Accounting factors-cash and accrual basis
• Internal audit
• Internal management principles

Module 7: External Auditing

• Legislative oversight
• Fiscal councils
• Internal auditing principles
• Supreme audit institutions
• Public engagement

Module 8: Evaluation of the Budget

• Comparing actuals vs budgets
• Feedback on budgets
• Updating the budget models
• Fiscal transparency

Module 9: Reporting and Accounting

• Accounting process
• Accounting standards
• Financial statements

Module 10: Governance, Audit, and Oversight

• Audit procedures
• Auditing standard
• Governance
• Types of audits
• Ethics

Module 11: Capital Cost

• Factors of capital costs
• Aspects determining the price of capital
• The significance and the concepts of capital cost
• Aspects Determining the capital design decisions
• Finance Risk and capital structure in the public sector
• Margin cost of capital (MCC) in the public sector

Module 12: Financial Markets in the Public Sector

• Categories of financial industries: the primary and secondary markets: capital markets, and money markets
• Nature and the Responsibility of the financial industries
• Stock market indices
• Cross-listing and stock exchange listing
• The burden of capital market authority
• The central depository system (CDS) in the public sector
• The financial intermediaries and institutions
• Industry efficiency: efficient industry hypothesis