Finance

The  short course aims to create an awareness and understanding of the Public Finance Management Act (Act No. 1  of 1999) (PFMA), as amended, and its implications.  The PFMA is a very important piece of legislation that promotes good financial management in order to maximise delivery through the efficient and effective use of limited resources.
Learning Outcomes :
After completion of this short course, delegates will be able to:

1. understand the basic concepts and principles necessary for sound financial management;
2. comply with the requirements of the Public Financial Management Act;
3. comply with the Treasury Regulations;
4. apply the principals of financial management approach to managing for results
5. apply the performance requirements for financial management; and
6. apply the principles of effective reporting.

Outline of Course Content :
The short course covers the following topics :

1. Introduction to financial management
2. Financial framework applicable to public officials
3. Strategic planning and budgeting
4. Strategic planning
5. Costing
6. Expenditure classification
7. Performance measurement
8. Asset management
9. Risk management
10. Internal control
11. Payment processes
12. Supply chain management
13. In-year management monitoring and reporting
14. Financial reporting and accountability
15. Definitions

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