Certificate of Achievement
has completed the following course:
You will examine the essential differences between public and private sector financial management, and begin to develop the skills to prepare and interpret budgets for public organisations. Also covered are the expectations placed on public sector financial managers, and how to work with third parties who may come from the commercial sector. You will gain practical insights into the key concepts of value for money, and how to exercise accountability for public spending.
4 weeks, 3 hours per week
Dave Hall
University Secretary
The Open University
Transcript
Learning outcomes
- Apply and understand the purpose of public financial management.
- Evaluate and understand budgets in the public sector.
- Demonstrate and understand incremental budgeting and zero-based budgeting.
- Explain and appreciate the important of value for money and ways in which public spending is managed.
- Assess and understand accountability mechanisms and the role of auditors in the public sector.
Syllabus
- The differences between financial management in the public and private sectors.
- The basics of taxation, including different types of taxes and their features.
- Different approaches to budgeting and their strengths and weaknesses.
- The key internal controls for managing the finances of any organisation.
- The prevention of fraud and corruption.
- The five Es of value for money: effectiveness, economy, efficiency, equity, ethics.
- How to put a value on the costs and benefits of public services.
- The importance of accountability and transparency in the management of public money.
- The role of external and internal auditors and what an audit opinion means.
Issued on 27th October 2018
The person named on this certificate has completed the activities in the transcript above. For more information about Certificates of Achievement and the effort required to become eligible, visit futurelearn.com/proof-of-learning/certificate-of-achievement.
This certificate represents proof of learning. It is not a formal qualification, degree, or part of a degree.