Open Book Accounting

by CIPFA Claim Listing

A one-day course providing a solid grounding in the basic principles and concepts of open book accounting, plus practical tips on its application in managing the operation of contracts.

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img Duration

1 Day

Course Details

Open book accounting is not just about accounting, it is about smarter procurement and contract management processes.

Open book accounting offers a transparent and fair way of procuring and delivering services in the public sector. The concepts and principles supporting it are increasingly being seen as key to successfully driving efficiency in cost reimbursable or target price construction and works contracts.

This one-day training course will give you a good grounding in the basic principles and concepts of open book accounting as well as practical tips on its application in managing the operation of contracts.

 

Course Content:

Below is the typical course outline, which can be tailored to meet your and your team’s needs.

  • The context for open book
  • The history and principles of open book processes
  • Where open book is appropriate and the advantages/disadvantages of the approach
  • Overview of the open book processes
  • The end to end process, who is involved and the roles they play
  • Risks and pitfalls in the procurement and initiation of an open book contract
  • Management of open book contracts to improve performance
  • Open book contract management including managing change and variations
  • Cost reduction strategies and incentives
  • Good governance
  • Audit strategies and implementation to ensure governance and risk management are in place and effective
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    77 Mansell Street, London

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