Skip to 0 minutes and 13 seconds In Week 1, we had a look at how we can understand the financial position of an organisation by looking at the financial reports. They can tell us a lot about whether a business or a public sector organisation is performing well or not in financial terms. And hopefully you’re feeling more confident about interpreting financial statements now. We also got to grips with the consequences of fiscal and financial imbalances and understood how good management requires us to anticipate and prevent imbalances from happening. Next week, we will focus our attention on how public sector organisations spend money. The public sector typically provides a number of public programmes, from education to health, from national defence to the protection of the environment.
Skip to 1 minute and 4 seconds Public sector entities need to spend money in order to fulfil their statutory mandate. The issue is, however, how well they make decisions about public spending. What do they spend money on? How can we know if public money is well-spent? We’ll be travelling around the globe to study examples of public sector spending and also looking at the hard choices governments often have to make. Join us next week to discover more about public financial management.
Coming up next week
In this round-up, we recap some of the issues explored in the first week of the course.
After making sense of the numbers through financial statements, we cast our gaze forward to examine exactly how public money is spent.
Now that you have reached the end of Week 1, you might like to check your progress by selecting the Progress tab at the top of this page.