Finance Training: Accounting & Finance for the Public Sector


Course Delivery

Live Instructor-Led Training

Course Description

The course Accounting & Finance for the Public Sector (Finance Training) is a solid introduction to corporate accounting. The training includes a introduction to the balance sheet and its various components. This is followed by an exploration of credits & debits within the Canadian operating environment together with a discussion of practical methods & tools for the production of financial documents.

Course Dates and Pricing


Nov 5 - 8, 2024$3,350.00

Course Outline

Accounting Basics

What is Accounting?
Who uses Accounting Information?
The Basic Principles of Accounting
Overview of Financial Statements
Understanding the Standards: US GAAP vs IFRS
Delving into US GAAP
A Note on Financial Statement Quality

The Basics of Financial Statements

About Accounting Processes
Understanding Double Entry Bookkeeping
Understanding the Fundamental Accounting Equation
Working with Debits and Credits
Relating Information to the Fundamental Accounting Equation
Working with the Journal and the Ledger
About Assets and Liabilities
Fixed Assets and Depreciation
About Cash and Non-Cash Items

Exploring Financial Statements

Overview of Financial Statements
Understanding the Balance Sheet
Understanding MD and A
Understanding the Income Statement
Understanding the Cash Flow Statement
Putting it All Together

Accrual Accounting and Budgeting

Applying Accrual Basis to the Public Sector
About Cash Based Accounting
Exploring Cash Based Accounting in the Public Sector
About Accrual Based Accounting
Exploring Accrual Based Accounting in the Public Sector
Accrual Based Accounting and Non-Cash Transactions
Exploring Pros and Cons of Accounting Methods

Exploring Budgets

Budgets in a Public Sector Context
What is and is not a Budget
The Budget Lifecycle
Types of Budgets
Revenue Budgets vs Operating Budgets
Budget Purpose and Use

Budgets by Type

Structure of an Operating Budget
Line-Item Budgets
Responsibility Center Budgets
Functional Budgets
What If Budgets
Other Budget Types

The Budget Process

What is an Effective Budget Process?
Strategic Planning and the Budget Process
The Role of Forecasts and Budgets
About Controllable and Non-Controllable Costs
Basic Costing Tools and Definitions
Direct and Indirect Costs
Fixed and Variable Costs in Forecasts and Cost Calculations
Breakeven Cost Analysis

Financial Concepts of Capital Budgets

About the Time Value of Money
Estimating Reasonable Expected Return
Calculating Net Present Value and Internal Rate of Return
About Payback Period and Discounted Payback Period
Determining Cash Flows for an Investment
Dealing with Replacement Projects
Factoring in Real Options and Conditional Scenarios
Capital Rationing and its Implications

Capital Planning and Budgets

More on Capital Budgets?
About Depreciation: Straight-Line vs Accelerated
Factoring in Social Value
Distinguishing Capital Expenditures from Other Expenditures
About Capital Assets
Capital Planning and Budgets
Capital Improvement Plans
Making Decisions on Real Value

Management Control

What is in Scope?
Exploring a Management-Control Framework
Understanding Risk and Risk Management
Understanding and Defining the Risks
Control Procedures and Policies
Protective and Facilitative Controls

KPIS and Reporting

What is and is not a Key Performance Indicator?
Defining Financial KPIs
Implementing Intermediate Controls
Implementing End of Year Controls
Implementing Effective Reporting

Closing Remarks


Course Locations

  • Ottawa

  • Montreal

  • Toronto

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