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Short Course
on
Financial Management for Non-Financial Managers
The Public Finance Management Act, Act 1 of 1999 (PFMA) and Treasury Regulations (TR), require the National and Provincial government sphere departments in South Africa to align their budgets to the achievement of their strategic plans. Management in the public sector must be empowered to apply strategic planning for effective public service delivery and budget implementation. There is a need to plan, strategise, share with representatives and stakeholders measurable objectives and evaluate their mandated activities, to meet not only the Government performance and results requirements, but also, at the same time, they have to deal with a number of management reform initiatives. The PFMA is designed to prevent wastage of public finances and failure to comply with the prescribed regulations could put the performance and more effective public service delivery at risk. Through a risk management process, potential risks should be identified that could negatively impact on public service delivery. Effective internal control systems should be incorporated to manage the risks. The Short Course assists the managers and senior leading public officials to effectively comply with the legislation and public financial management reform initiatives in the South African public sector

Purpose of the course:

All managers and senior leading public officials are involved in financial management and related process to a greater or lesser extent. It is not only the responsibility and function of the Financial units of the governmental institutions. The purpose of the Short Course to assist the aforementioned managers and senior leading public officials to effectively comply with the legislation and public financial management reform initiatives in the South African public sector

Admission requirements:

Admission requirements: 
Proficiency in the use of a Scientific calculator for doing exercises and case studies during the workshop for the purpose of formative assessment.
Learning assumed to be in place: 
Grade 12 and proficiency in English. In addition, a basic understanding of financial and management accounting, economics, mathematics and statistics concepts within a public sector institution in South Africa is required. Understanding basic accounting, financial concepts and limited mathematical skills (NQF level 4 and/or 5)

Course outcomes and assessment criteria :

Course outcomes and the associated assessment criteria: 

Study Unit

Outcomes

Assessment Criteria

  After completion of this course, participants will: Participant will be assessed on the following criteria:
  • Use the working capital management policy applicable to the public finance management and administration sector. 
  • Use financial information to inform working capital decisions. 
  • Manage accounts receivable. 
  • Manage inventory. 
  • Manage cash resources
  • The working capital policy utilised in the public finance management and administration sector is explained. 
  • The elements covered by the working capital policy are identified. 
  • The understanding of the effect of working capital management policy in relation to revenue management in the public sector is clearly demonstrated, and its implications explained in the context of service delivery. 
  • The need to manage the overall working capital position to meet overall financial management policy is demonstrated. 
  • Liquidity rations are calculated and analysed. 
  • Reports are prepared in relation to significant liquidity ratios. 
  • The nature of accounts payable in the public sector is explained. 
  • Credit management policy of the institution and credit information sources are used to enhance credit control. 
  • Different processes and procedures are used to collect amounts owed. 
  • Appropriate economic models are applied to inventory management. 
  • Economic inventory levels and delivery periods are used to determine inventory models. 
  • Government guidelines relating to procurement and inventory are applied. 
  • Budgets for consumable inventory items are prepared and used to guide reporting of utilization of inventory items. 
  • Provisioning management techniques and practices are used with reference to various inventory items. 
  • External requisitioning procedures for inventory items are determined using quantitative tools. 
  • Liquidity and the different forms of solvency are understood in the context of certain policies.
  • A working management approach to cash management is adhered to within the boundaries of legislation

 

Method of assessment: 
Outcomes are assessed in an integrated manner wherein not only the student’s evidence of the mastering of discipline-specific knowledge and skills are assessed, but also writing and communication skills, computer literacy and ability to critically analyse and effectively evaluate work-place related problems. The workshop commences with a self-assessment (open-book test) to determine the participant’s current level of knowledge and skills within his / her work context and experiences. Formative assessment will be conducted at the end of the workshop on day three to assess the extent of the participant’s learning experience. Summative assessment will be conducted through an individual assignment to be presented within 60 days after the termination of the workshop. The assignment will assess the participant’s ability to apply the principles and formulae covered during the workshop in his / her workplace situation. The Summative Assignment will reflect the Credits allocated to this Programme in respect of its complexity, critical and extend of reading required, group work and self-study in order to research and compile the assignment. 20-25 Pages per assignment will be a norm that will generally be applied to facilitate this process

Additional information

Mode of delivery: 
Contact
Target group: 
Junior and Middle Management members as well as Supervisory and Leading Public Officials.
Contact us
Name: 
UCE
E-mail: 
Telephone number: 
018 285 2821