Financial Management in the Public Sector – Level 1

KEY INFORMATION

  • Course Code: PS105A
  • Duration: 1 week
  • Fee: £2625

COURSE OUTLINE

Revenue Forecasting

  • Simple moving average (SMA)
  • Exponential smoothing (EXS)
  • Transformation moving average (TMA)
  • Regression against time
  • A quasi-casual forecasting model
  • Determining forecast accuracy

Resource Development Analysis

  • Defining the issue: revenue shortage
  • Estimating revenue shortage
  • Developing revenue options
  • Assessing revenue options
  • Making decisions

Cost Estimation

  • Cost classification
  • Total cost estimation
  • Average cost estimation

Cost Comparison

  • Calculating present value
  • Calculating annualised cost

Incremental Cost Analysis

Cost-Benefit Analysis

  • Introduction to cost-benefit analysis
  • Issues in cost-benefit analysis

Financial Performance Monitoring

  • Determining monitoring indicators
  • Detecting unacceptable performance
  • Understanding the causes and taking action

Target audience

  • Financial and budget personnel in governments.
  • Anyone who is interested in governmental finance.

Learning outcomes

Upon completion of this course, you will be able to:

  • Use forecasting tools.
  • Determine forecast accuracy.
  • Apply the most accurate tool for forecasting.
  • Define a resource development issue.
  • Estimate revenue shortage.
  • Develop revenue options.
  • Assess revenue options.
  • Determine optimal revenue options.
  • Calculate total cost, average cost, direct cost, indirect cost, personnel cost, operating cost, and capital cost.
  • Perform cost allocation.
  • Use cost depreciation methods.
  • Apply average cost to determine efficiency.
  • Understand the concepts of present value, future value, time value of money, discount rate.
  • Apply present value of cost in cost comparison.
  • Apply annualized cost in cost comparison.
  • Understand fixed cost, variable cost, marginal cost, and incremental cost.
  • Apply marginal cost in decision making.
  • Apply incremental cost in decision making.
  • Calculate the net present value and the benefit/cost ratio.
  • Understand conditions to which a cost-benefit analysis applies.
  • Apply the cost-benefit analysis in decision making.
  • Determine proper indicators for monitoring.
  • Detect unacceptable performance.
  • Detect performance trends.
  • Develop a complete picture of financial performance.
  • Identify causes of underperformance.
  • Take proper actions to improve performance.

WHAT IS INCLUDED:

  • 30 hours of classroom-based training
  • Apple iPad
Program taught in:
  • English (US)

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Last updated September 10, 2019
This course is Campus based
Start Date
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Feb 3, 2020
Duration
1 week
Full-time
Price
2,625 GBP
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