Budgeting and financial management

The study of public finance, including budgeting, revenue generation, and financial reporting.

Introduction to Budgeting and Financial Management: This topic covers the basic concepts and principles of budgeting, financial management, the difference between budgeting in the public and private sectors, and the role of budgeting and financial management in the public administration.

Budget Preparation: This topic covers the steps involved in preparing the budget, the budgetary process, and the budget calendar. It also includes budgetary forms and budgetary sources.

Revenue Generation: This topic covers the sources of government revenue, the methods of revenue generation, and the challenges faced in revenue generation.

Budget Decision Making: This topic covers the criteria for budget decision-making, the budgetary policies, decision-making structures, and the relationship between budgeting and public policy objectives.

Budget Implementation: This topic covers the steps in which the budget is converted into action, including the approval process, administrative procedures, and management systems.

Fiscal Planning: This topic covers the development of fiscal plans and how they can be used to achieve long-term fiscal control and stability.

Budget Monitoring and Accountability: This topic covers the monitoring and evaluation of budget implementation, the role of internal and external auditors, and the establishment of budgetary controls.

Public Finance Management Reforms: This topic covers the reasons for reform in public finance management, the types of reforms, and the effects of reform on budgeting and financial management.

Financial Reporting and Transparency: This topic covers the requirement for financial disclosure, financial statement analysis, and the role of financial transparency in public finance management.

Cost-Benefit Analysis: This topic covers the method of assessing and weighing the costs and benefits of public projects and programs. It provides a framework for governmental decisions on allocating resources.

Financial Regulation and Supervision: This topic covers the legal and institutional framework for financial regulation and supervision. It includes the regulatory agencies’ responsibilities and the laws governing financial transactions.

Public Debt Management: This topic covers the government’s management of public debt, the instruments used to issue public debt, and debt management policies and strategies.

Accounting and Auditing Standards: This topic covers the accounting and auditing standards used in the public sector. It also includes the requirements for internal controls in financial management.

Taxation Policy and Revenue Collection: This topic covers the design of tax policies, the tax structure, and the administration of tax laws. It also includes the challenges of revenue collection.

Public Private Partnership: This topic covers the concept of public-private partnership (PPP) in public finance management. It includes the benefits of PPPs, the PPPs structure, and challenges of implementing PPPs.

Zero-Based Budgeting: A budgeting technique that starts from zero and requires every expense to be justified and reviewed from scratch rather than basing it on the previous year's budget.

Incremental Budgeting: A budgeting technique that involves adjusting the previous year's budget by taking into account the expected changes in expenses for the upcoming year.

Performance-Based Budgeting: A budgeting technique that measures the performance of each program or project against specific objectives and allocates funds accordingly.

Activity-Based Budgeting: A budgeting technique which focuses on specific activities or tasks that contribute to the organization's overall objectives and goals.

Cash-Flow Budgeting: A budgeting technique that tracks the flow of cash into and out of an organization and budgets based on this information.

Capital Budgeting: A budgeting technique that identifies long-term investments, such as equipment or buildings, and allocates funds accordingly.

Participatory Budgeting: A budgeting technique that engages the public in the budgeting process, allowing citizens to provide input on how funds should be allocated.

Flexible Budgeting: A budgeting technique that allows for adjustments in expenditure targets based on unforeseen circumstances or changes in priorities.

Program Budgeting: A budgeting technique that groups expenses by program, making it easier to track costs and evaluate the effectiveness of each program.

Rolling Budgets: A budgeting technique that involves regularly revising the budget based on changes in the organization or external factors.

Balanced Budgeting: A budgeting technique that ensures spending does not exceed revenue, with the aim of achieving financial stability.

Multi-Year Budgeting: A budgeting technique that plans for multiple years in advance, allowing for long-term financial planning and stability.

Line-Item Budgeting: A budgeting technique that looks at each expense separately and allocates a specific amount to each line item.

Performance-Based Contracting: A budgeting technique that links funding to measurable outcomes, with the aim of increasing accountability and improving performance.

Cost-Benefit Analysis: A budgeting technique that weighs the costs of a program or project against its potential benefits to determine whether it is financially feasible.

Risk Management: A budgeting technique that involves identifying potential financial risks and developing strategies to mitigate them.

Bottom-Up Budgeting: A budgeting technique that involves input and feedback from front-line employees or lower-level managers, treating them as experts on the day-to-day operations of the organization.

Top-Down Budgeting: A budgeting technique that involves input only from higher-level managers, who set the budget targets and delegate responsibility for implementation to lower-level managers.

What is the primary focus of public finance?

What are the three main areas within the purview of public finance?

Who proposed a framework to assess public finance?

What are the two central motivations for government intervention?

What factors influence how governments intervene in the economy?

What type of effects do government interventions have on economic outcomes?

Why do governments choose to intervene in the economy?

How does public finance contribute to achieving desirable effects?

What are the consequences of market failure?

How does government influence the distribution of income among citizens?

What is the role of public provision in government intervention?

How does taxation impact government intervention?

What are the potential outcomes of government subsidization?

How do specific government interventions impact economic outcomes?

What are the factors considered in political economy when making public policy?

How do governments determine the appropriate timing for intervention in the economy?

What methods are used to assess the efficient allocation of resources?

How do governments address income inequality through public finance?

How does government intervention impact the stability of the economy?

How do political considerations influence government intervention in the economy?