Advanced Business & Financial Reporting - Next Generation Excel

Introduction to Public Sector Accounting

• Meaning and Coverage of Public Sector
• Objectives of Public Sector Accounting
• Nature of Work, Qualities and Problems Facing Public Sector Accountants
• Users of Public Sector Accounting Information
• Uses of Public Sector Accounting Information
• Distinction between Public and Private Sector Accounting
• The Concept of Funds in Government Accounting

Basis, Units, Processes and Structure of Public Sector Accounting

• Concepts/Principles Applicable to Public Sector Accounting
• Basis of Government Accounting
• Accounting Units
• Government Accounting Processes
• Structure of Government Accounting

Regulatory and Professional Framework of Government Accounting

• Nature of the Framework
• Legal Framework (CFRN, FCMA, Financial Regulation)
• Professional Framework and GAAPs
• Professional Pronouncement on government accounting
• Purposes of Financial Regulations

Government Revenue and Expenditure

• Meaning of Revenue
• Sources and Classification of Government Revenue
• Taxation as a Source of Government Revenue
• Meaning of Public Expenditure
• Basic Functions of Government Expenditure
• Purposes of Government Expenditure
• Guiding Principles of Public Expenditure
• Financing Public Expenditure
• The Impact of Government Expenditure

Accounting Record Keeping in the Public Sector

• Books of Accounts (Cash Book, Ledger and Trial Balance )
• Ministerial Accounting System (Self and Non-Self Accounting Units)
• Preparation of Transcript
• Preparation and Posting of Monthly Payroll and Variation Control and Report

Treasury and Expenditure Control System

• The Treasury
• The Benefits of Expenditure Control
• Public Expenditure Control
• Types of Control (Executive, Legislative, MoF, Treasury, Departmental Control)
• The Role of Auditing in Expenditure Control

Pension and Gratuity Accounting

• The Concept of Pension and Gratuity
• Transfer/Merger of Service
• Statutory Age of Retirement
• Pension, Gratuity and Retirement Benefits
• Computation of Pension and Gratuity
• Non Pensionable Service
• Death Benefits
• Pension Acts 102 and 103 of 1979
• Pension Reform Act 2004
• Retirement Benefits
• Pension Fund Commission
• Pension Fund Administrator (PFA)
• Pension Assets Custodian (PAC)
• Investment of Pension Fund

Government Statutory Financial Statements and Schedules

• The Federation Account
• Statutory Allocation Formula
• Consolidated Revenue Fund or Federal Government Account
• Development Fund
• Contingencies Fund and its operation
• The Revenue Mobilization Allocation and Fiscal Commission
• Federal Government Final Accounts
• The Annual Report of the Accountant General
• The Financial Statements, Cash flow and Value Added Statements

The IPSAS Standards

• Review of current IPSAS Standards
• The correct application of individual IPSAS Standards
• Overcoming key challenges
• Obtaining guidance and support from International Federation of Accountants

IPSAS compliant financial statements

• Key IPSAS requirements within financial statements
• Producing the statement of financial position
• Producing the statement of financial performance
• Producing the cash flow statement
• Reporting changes in net asset position
• Producing compliant notes to the accounts