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Course detail

Chartered Public Financial Accountant

Course Description

The Chartered Public Financial Accountant (CPFA) designation equips professionals with advanced knowledge and expertise in public sector financial management. This prestigious qualification focuses on fiscal accountability, budgeting, auditing, financial reporting, and policy development for government entities and public organizations. CPFA holders are adept at navigating complex financial systems, ensuring transparency, and driving sustainable economic decisions in the public sector.

Details

The Chartered Public Financial Accountant program is designed for professionals aiming to excel in public sector finance and governance. It offers in-depth training on government accounting standards, public financial management systems, auditing practices, and fiscal policy formulation. Through comprehensive modules and practical case studies, participants will master the skills to enhance financial integrity, optimize resource allocation, and contribute to economic development. This course is ideal for finance professionals, policymakers, and auditors seeking to advance their careers in public financial administration.

Course Outline

Module 1: Introduction to Public Sector Accounting and Financial Management

  • Overview of Public Sector Accounting
    • Definition and principles
    • The role of public sector accountants
  • Public Sector Financial Reporting
    • Key differences between public and private sector accounting
    • Key financial statements in the public sector (e.g., government balance sheets, income statements)
  • International Standards in Public Sector Accounting
    • Overview of IPSAS (International Public Sector Accounting Standards)
    • Comparison between IFRS and IPSAS
  • Ethical Considerations in Public Sector Accounting
    • The role of ethics in public finance and accountability
    • Public sector accountability frameworks

 

Module 2: Budgeting and Financial Planning in the Public Sector

  • Public Sector Budgeting Frameworks
    • Types of budgets (e.g., cash-based, accrual-based)
    • The budget cycle in government
  • Government Financial Management Systems
    • Budget preparation, approval, and implementation
    • The role of oversight agencies (e.g., auditor general, budget office)
  • Fiscal Policy and Public Debt Management
    • Understanding fiscal policies and their impact on public sector financial planning
    • Managing public debt in the public sector
  • Legal Framework for Public Sector Budgeting
    • Government budgeting laws and regulations
    • Role of the legislature in public budgeting

 

Module 3: Taxation in the Public Sector

  • Overview of Public Sector Taxation
    • Taxation principles and objectives
    • Types of taxes in the public sector
  • Tax Policy and Administration
    • Tax policies, compliance, and collection methods
    • Role of tax authorities and agencies
  • International Taxation Standards
    • OECD guidelines on tax administration
    • Cross-border taxation issues
  • Tax Ethics and Compliance
    • Addressing tax evasion and fraud
    • Ethical issues in tax policy and administration

 

Module 4: Public Financial Reporting and Accountability

  • Government Financial Statements
    • Preparing financial reports: income statement, balance sheet, cash flow
    • Key reporting standards: IPSAS and IFRS
  • Auditing and Accountability
    • The role of internal and external audits in public sector accounting
    • Public sector financial audits and their impact on transparency
  • Performance-Based Budgeting
    • Linking budget decisions to performance outcomes
    • Measuring efficiency and effectiveness in public spending
  • Public Sector Sustainability and Financial Reporting
    • Reporting on environmental, social, and governance (ESG) factors in public sector entities

 

Module 5: Advanced Public Sector Taxation and Compliance

  • Complex Taxation Issues in the Public Sector
    • Handling international tax laws, VAT, and customs duties
    • Managing tax exemptions, reliefs, and incentives
  • Taxation for Non-Profit and Government Entities
    • Tax-exempt status and compliance for government bodies
    • Corporate social responsibility in the public sector
  • Tax Dispute Resolution
    • Managing tax disputes, audits, and litigation
  • Ethics in Public Sector Taxation
    • Balancing revenue generation with fairness and equity

 

Module 6: Public Sector Financial Management Systems and Technology

  • Introduction to Financial Management Systems (FMS)
    • Role of technology in public sector financial management
    • Key FMS tools and software used in government accounting
  • Digital Transformation in Public Finance
    • E-government initiatives and the impact on public finance
    • Automation of public sector accounting and budget systems
  • Cybersecurity in Public Financial Systems
    • Protecting government financial data and systems from cyber threats
  • Legal and Ethical Issues in Financial Technology
    • Legal considerations in implementing technology in public finance
    • Ethical concerns surrounding data privacy and financial transparency

 

Module 7: Financial Analysis, Risk Management, and Sustainability

  • Financial Analysis in the Public Sector
    • Financial ratio analysis for government entities
    • Financial forecasting and budgeting techniques
  • Risk Management in Public Finance
    • Identifying and mitigating financial risks in public sector entities
    • The role of risk management frameworks in financial planning
  • Sustainability and Public Sector Financial Strategy
    • Understanding sustainability in public financial management
    • Sustainable investment and resource allocation in government
  • Legal and Ethical Aspects of Risk Management
    • Risk management laws and compliance in public sector organizations
    • Ethical considerations in managing financial risks

 

Module 8: Exam Preparation, Ethics, and Legal Frameworks

  • Review of Key Topics
    • A comprehensive review of all previous modules to consolidate learning
    • Exam preparation: strategies for essay and multiple-choice questions
  • Public Sector Accounting Ethics
    • Ethical decision-making in the public sector
    • Managing conflicts of interest and corruption
  • Legal Framework in Public Financial Management
    • Legal aspects of budgeting, taxation, and financial reporting
    • Understanding public procurement laws and government contracting
  • Professional Conduct and Standards
    • Adhering to GAFM’s ethical and professional standards
    • Case studies on ethical dilemmas in public financial management

What You Will Learn?

  • Comprehensive understanding of public sector financial management principles and practices.
  • Application of government accounting standards and frameworks, including IPSAS and GASB.
  • Development of effective budgeting, forecasting, and resource allocation strategies for public entities.
  • Advanced auditing techniques and methods for ensuring fiscal transparency and accountability.
  • Mastery of public financial reporting, including compliance with regulatory requirements.
  • Techniques for evaluating and managing financial risks in government and non-profit organizations.
  • Strategies for aligning fiscal policies with economic development goals.

Target Audience

  • Public sector finance professionals seeking advanced qualifications.
  • Auditors and accountants working with government entities and non-profits.
  • Policy advisors and fiscal planners involved in budgeting and economic strategies.
  • Graduates in accounting, finance, or public administration aiming for specialization in public finance.
  • Financial consultants and analysts interested in public financial systems.
  • Government officials responsible for financial oversight and compliance.
  • Non-profit organization leaders managing financial operations.

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