Gain an understanding of the basic principles of accrual accounting and the introduction of this financial practice into the public sector.
Finance Officer in accounts payable and/or accounts receivable in both the public and private sector
Who should Attend
- work in financial control sections
- are responsible for producing financial statements
- are managers wishing to be brought up-to-date with accrual accounting practices
To be eligible to enter this course you will need:
- to be mature age (20 years or over)
- to have access to the specific work practices and procedures required to demonstrate competency in the units undertaken
- Face to face training sessions
- Milestone activities
- In-class exercise
Minimum 8 participants
Maximum 20 participants
On completion of this course, you should be able to:
- Prepare a set of financial statements (an income statement, cash flow statement, balance sheet) from a given set of transaction information
- Describe the main principles that guide the preparation of financial statements
- Analyse transactions in terms of their impact on the accounting equation
- Describe the main reasons for preparing financial statements
- Describe the main principles of financial management and control, including the role of budgets in accounting control
- Identify the source and major features of financial management and accounting requirements in the public sector
- Use financial processes to identify and implement public sector financial requirements
This course covers the following units of study:
- Use public sector financial processes
- Prepare financial reports
- Report financial activity
- Prepare operational budgets
- Prepare financial statements
- Maintain asset and inventory records
- Reconcile and monitor accounts receivable
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