This course is designed for non-financial managers who have responsibility for a budget. It provide the financial knowledge needed to be a financially savvy manager, giving non-finance managers an overview of financial concepts, language and tools to assist in managing budgets successfully. The workshop is for anyone who manages or who has responsibility for a budget but is not a ‘finance whiz’.
- Gain a better understanding of basic finance and accounting principles
- Strengthen your ability in budget and financial management
- Increase your ability in budget planning including the cost-benefit analyses of various options
- Understand how funding allocations are developed and how to influence them
- Know the rules about expenditure, including regulations and Acts governing the use of different types of funds
- Prepare unit budgeting, including salary budget; for example: components of budget, classifications of staff, treatment of leave allocations
- Prepare budget planning including the ability to provide cost-benefit analyses of various options, account for employee expenses, plan cash flow over time and focus on a realistic basis for planning
- Understand budget development approaches; for example, zero-based or incremental, accounting for leasing costs
- Understand internal controls and monthly reporting
- Prepare budget performance reporting
- Manage across several project budgets and identify from financial reports when allocated funds should be reallocated.
NSW Public Sector Framework Capabilities
This course is targeted at Foundational to Intermediate level. The following behaviours from the framework are covered:
Business Enablers: Finance
- Understand that government services budgets are limited and must only be used for intended purposes.
- Appreciate the importance of accuracy and completeness in estimating costs as well as calculating and recording financial data and transactions.
- Be aware of financial delegation principles and processes.
- Understand compliance obligations related to using resources and recording financial transactions.
- Understand basic financial terminology, policies and processes, including the difference between recurrent and capital spending.
- Take account of financial and budget implications, including value for money in planning decisions.
- Present basic financial information to a target audience in an appropriate forma.
- Understand financial audit, reporting and compliance obligations and the actions needed to satisfy them.
- Display an awareness of financial risk and exposure and solutions to address these.
Enquiries: For more information on our learning programs, please contact the IPAA NSW Learning Team on 02 8066 1900 or email [email protected].