Principles Of Financial Accounting In The Public Sector (NQF Level 7)

Principles of Financial Accounting in the Public Sector course is offered by PSAAA (Public Sector Accountancy And Audit Academy). We are an accredited institution, offering training to public sector accounting and auditing professionals.

We help to increase your knowledge, skills, and abilities to improve competency and productivity. We increase the knowledge and skills to ensure accountability in the prudent management of public financial resources.

Outline:

• Distinguish between the different reporting frameworks
• Outline the principles underlying the reporting standards Public Sector institutions should apply
• Demonstrate an understanding of the key concepts, theories and principles related to Financial Accounting and Reporting using IFRS Standards of Accounting
• Interpret Financial Statements that have been drawn up using IFRS principles
• Demonstrate the ability to record transactions (bookkeeping of transactions) considering the relevant standards of IFRS
• Interpret recorded transactions according to the relevant standards and note deficiencies in the reporting as required by IFRS Standards of Accounting
• Analyse accounts and make decisions based on the analysis (Management Accounts and Financial Statements)
• Understand and interpret budgeting deficiencies and areas of concern through analysis of budget versus actual
• Understand, record and analyse notes to the financial statements as requires by the relevant IFRS Standard of Accounting