Overview and objectives
Board members, trustees and other senior leaders in the public sector, both executive and non-executive, enhance their ability to ask the right questions, challenge, scrutinise and evaluate plans and proposals when they have a strong grasp of financial terminology and techniques. A consistent foundation in financial literacy is a key factor in enabling leaders to make better decisions, prioritise issues and maximise opportunities.
This course is aimed at equipping board members, trustees and other senior professionals in the public sector who have little or no formal finance training with the skills and knowledge to interpret and challenge board-relevant financial information.
The training is highly interactive and considers the real-life experiences of all delegates. Multiple case studies are drawn from the public sector to bring the sessions to life and help delegates visualise the application of course content in practice.
Participants should expect to find this a challenging, and highly rewarding, programme.
The course covers:
Financial reporting and management accounting in the public sector
- Fundamental financial concepts and terminology
- Financial reporting in the public sector - the Statement of Comprehensive Income / Net Expenditure, Balance Sheet, Statement of Change in Taxpayers’ Equity / Movement in Reserves, Cash Flow Statement
- Budgets, forecasts, what-if scenarios and sensitivity analysis
- Sources of finance in the public sector
- Solvency, liquidity and going concern
- Analysing and interpreting financial statements and reports
- Strategic financial management in the public sector
Governance and finance
- The Board’s financial responsibilities and accountability
- Stakeholder expectations and public policy
- Internal Audit, External Audit and Audit Committees
- Current issues