About this course

Gain a better understanding of financial frameworks and budgetary processes with this one day workshop designed for those with financial delegations.

Additional Information: Key Topics:
The key topics are:
- The Government Financial Framework
- Budget Basics – cash versus accrual, forecasting and variances, phasing the budget and the relationship between Assets, Liabilities, Revenue and Expenses
- Accrual budgeting in the public sector
- Best practices as identified by the ANAO and ACT Auditor-General
- Managing variances
- Communication and documentation

Learning Outcomes:
At the end of this course you will understand the processes involved in:
- Preparing and phasing financial forecasts;
- Developing internal budgets in a timeframe that meets the requirement of the wider organisation and, ultimately, the Government; and
- Analysing budget performance including variance analysis;

You will also:
- Be able to identify the relationship between Assets, Liabilities, Revenue and Expenses;
- Gain an understanding of the accrual accounting concepts and their application to the development of an accrual based budget; and
- Be able to document the internal budget process.

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