PED-203M: The Basics of Public Financial Management

Semester: Spr Mod3

Credit: 0.5

Faculty: Stephen Peterson

Schedule

Day Time Location
First Day 1/29
Meet Day T/Th 10:10 AM - 11:30 AM RG-20
Review F 11:40 AM - 1:00 PM L332

Description

This course provides the analytic tools needed to understand the fundamentals of public sector budgets and accounts and assess the quality and sustainability of a country’s financial position. Using data from a variety of central governments in developed and developing countries, students learn how to analyze three key documents: Statement of Government Operations, Budget, and Financial Statements. Mastery of these three sources of financial data gives students the skill set used by the IMF in their consultations with governments.  The structure of financial systems which is established by the budget classification and chart of accounts is presented as is their international standards. The core of the course is how to analyze budgets and public financial statements in terms of composition of expenditure and sustainability given their sources of finance. The techniques of double entry bookkeeping are practiced and the four bases of accounting (cash, modified cash, modified accrual and accrual) are presented. International standards of public sector financial reporting for cash and accrual accounting are reviewed.