Budgeting and Financial Management for Police Services

Oxford Management Centre

How long?

  • 5 days
  • in person

Oxford Management Centre

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Who should attend

This Oxford Budgeting and Financial Management for the Police Services training course would be relevant to all of those involved in the preparation, presentation, and interpretation of corporate financial statements from both the private and public sectors where compliance with the IASB. The IFRS framework is required, both in commercial businesses, government, and not-for-profit organisations.

This Oxford training course is a suitably wide range of professionals but will significantly benefit:

  • Finance Managers
  • Police service departmental budget holders
  • Public sector and police service budget accountants
  • Public sector purchasing and procurement managers
  • Assistants to relevant ministry and corporate officials
  • Financial accounting team members in the police service
  • Planning managers dealing with the police and law enforcement

About the course

This leading-edge Oxford Budgeting and Financial Management for the Police Services training course is designed to provide a comprehensive briefing on the fundamental principles, key functions, and practical application in the continuously developing sphere of public sector finance, focusing specifically on how these apply to the police services. Non-financial law enforcement employees and managers are regularly required to both provide input to the budget process and respond to information presented in departmental financial reports as part of their active involvement in the financial management process.

It will provide a useful hands-on practical introduction for the non-financial manager as well as an invaluable refresher and update for finance professionals working in the policing area of the public sector. The course also incorporates a vital update on International Public Sector Accounting Standards Board (IPSASB) standards as well as recent developments in the field of New Public Management, specifically focusing on the reasons for and approaches to New Public Financial Management.

This Oxford training course will highlight:

  • The context for financial decision-making in the police services
  • Balancing the challenges of service delivery and cost constraints
  • The distinctive characteristics of public sector financial statements
  • Analysing and interpreting public sector financial reports
  • The objectives and methodology of budgeting in the police services
  • Capital investment appraisal and outsourcing decisions
  • Public sector management reforms

Seminar Objectives

The Oxford training course has been designed to provide you with up to date knowledge and practical skills in budgeting and financial management in the law enforcement function, focusing on the principles and practical use of public sector financial statements, budgets and reports.

By the end of this Oxford training course, the participants will have learned to:

  • Understand the role of financial accounting in the police services
  • Prepare financial reports in accordance with IPSASB framework
  • Analyse and interpret police service financial reports
  • Apply best practice techniques of financial management in the police service
  • Use forecasting techniques to plan for income and expenses
  • Understand and actively participate in the police service budget process
  • Understand apply capital investment appraisal methods

Seminar Methodology

The Oxford training course will be structured as a highly participative workshop with formal presentations, case studies, and interactive worked examples. Relevant examples and case studies are provided to illustrate the application of each of the topics covered, and opportunities are provided to learn and apply the key financial accounting and budgeting principles using practical examples and exercises.

Organisational Gains

The organisation will benefit from the development and practical application of skills in financial accounting and budgeting in compliance with the requirements of the IPSASB framework.

This Oxford training course will deliver benefits in raised awareness of key financial principles and improved decision-making. The organisation will specifically benefit from:

  • Up to date knowledge of the accounting requirements under the IPSASB framework
  • Raised level of awareness of key public sector and police service finance issues
  • Development of up to date accounting and budgeting techniques
  • Development of practical and effective financial management skills
  • Practical skills in capital investment appraisal methods
  • Awareness of developments in New Public Management principles

Personal Gains

The participants will benefit from updated knowledge and applied practical skills in financial accounting and budgeting in the context of public sector organisations. These skills will allow the participants to make a greater contribution to the budgeting and financial decision-making processes in their organisation, at the same time enhancing their career development potential.

The specific benefits of this Oxford training course will include:

  • Briefing on the principles of financial accounting and budgeting in the police service
  • Knowledge of the key current IPSASB accounting standards
  • Development of advanced skills in financial analysis and interpretation
  • Application of practical skills in forecasting income and costs
  • Practical techniques for accurate and efficient budgeting
  • Up to date knowledge of police service budgeting principles and methods
  • Raised awareness of recent developments in public sector management

Seminar Outline

DAY 1 Fundamentals of Public Sector and Police Service Finance

  • Basic Principles of Macroeconomic and Fiscal Policy
  • Types of Public Sector Financial Decision-making
  • Purpose of Police Service Accounting and Budgeting
  • Balancing Service Level Targets and Operating Costs
  • Basic Concepts in Financial Accounting
  • Cash vs. Accruals Accounting
  • Qualitative Characteristics of Financial Statements

DAY 2 Financial Reporting in the Police Services

  • The IPSASB compared to the IASB Framework
  • Distinctive Characteristics of Police Service Financial Accounts
  • The Five Elements of Financial Statements
  • Reporting Standards Relevant to Public Sector and Police Financial Reports
  • Assets and Liabilities: Principles for Recognition and Measurement
  • Nature and Classification of Public Sector Income and Expenses
  • Principles of Public Sector and Police Service Financial Management

DAY 3 Financial Management in the Police Services

  • Understanding and Analysing Cost Behaviour
  • The Cost-Volume-Profit Relationship
  • Why analyse financial statements?
  • The Financial Analyst’s Toolkit
  • Interpreting Financial Ratio Analysis of the Public Sector and Police Service Reports
  • Managing and Improving Spending Deficits

DAY 4 Budgeting for the Police Services

  • Setting Goals and Outcome Requirements
  • Financial and Non-financial Performance Measures
  • Objectives of Police Service Budgets
  • Outcome Focused Budgeting in the Public Sector
  • Budget Layers
  • Techniques for Forecasting Income and Costs
  • Human Aspects and Dysfunctional Budgeting
  • Principles of Capital Budgeting

DAY 5 Capital Investment Decision-making

  • Characteristics and Decision-making Process
  • Investment Appraisal Techniques
  • Principles of Discounted Cash Flow Analysis
  • Understanding Net Present Value (NPV)
  • Outsourcing Services: Objectives and Decision Criteria
  • Public-Private Partnerships and Private Finance Initiatives

Public Sector Financial Management Reforms

  • Recent Developments in Public Sector Management
  • Understanding Public Sector Management Reforms
  • The Need and Purpose of Financial Reforms
  • Implementation in the Police Services
  • Key Issues for the Future of the Public Sector and Police Services

Budgeting and Financial Management for Police Services at Oxford Management Centre

From  $4,950
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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

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