Public Financial Management Defined
Public financial management refers to the process of collecting adequate economic resources in the most appropriate manner and then efficiently and effectively allocating and utilizing the collected resources. A good public management system also requires three vital components including resource allocation, resource generation and resource utilization or expenditure management. If you have longed to take up a public financial management course, then it is important for you to have a little background about public finance. Public finance actually refers to the study of the government’s role in the economy of a country. Public finance is also based in three major elements and these include the efficient resource allocation, macroeconomic stabilization and income distribution.
When attempting to get your public financial management certification, then you should keep in mind that the whole public finance management process requires you to deal with all the phases linked to expenditure management and resource mobilization in the government. Public finance management is extremely important in the governance process. Its importance is similar to effectively managing the financial aspects of a business organization to increase its chances of achieving growth. It should also be noted that becoming a public finance management expert requires you to improve your skills in resource mobilization and in the prioritization of certain government and public programs. You should also become aware of how the budgetary process works and how you can exercise effective controls especially in managing public resources. You should also understand the importance of accountability and transparency when it comes to promoting aggregate fiscal discipline.
Brainmeasures Public Financial Management Certification Program
If you are planning to work for the public through your public financial management certification, then the certification course offered by Brainmeasures linked to this process can be extremely useful for you. Everything that you need to learn about public finance and resources and the secrets in effectively managing it is covered in the program so you can expect to receive the kind of training that you have hoped for. Brainmeasures is an online certification company which has already received its ISO certification so you can expect all its programs to run based on high quality and legitimate standards. To determine if you are worthy to receive your public finance management certificate, Brainmeasures will require you to take its online management test linked to the course at the end of the program. Passing the public financial management exam will show that your skills and knowledge are already enough to become successful in the field.
Highlights of the Public Financial Management Certification Program from Brainmeasures
Being part of the public financial management certification from Brainmeasures can provide you with the most detailed and enjoyable learning experience. At Brainmeasures, your knowledge and skills in handling public finances and resources will be honed. To give you a short background of what the program will offer, here are some of the major topics that are covered in it:
- Overview of the public expenditure management with a touch of topics linked to its themes and issues
- Understanding effective capital budgeting and planning
- Financial public management process as it relates to the development of a country’s economy
- Tips in long-range planning and annual budgeting
- Understanding property tax
- Taking a look on the state sales tax system in the future
- Tax compliance lessons for tax administrators, legal professionals and lawmakers
- Taking advantage of limited public resources
- Promoting economic growth and development through tax incentives
- Assessing public debt
- Certain implications that there is scarcity in public resources
- Understanding the theories and practices behind debt capacity and limits
- Tips in effectively undertaking the working capital management process in the government
- Overview on working capital, net assets and fund balance
- A more comprehensive background on performance budgeting and management
- Importance of public participation when it comes to improving local performance budgeting and measurement
- Connection between accounting and performance measurement in the local government
- Requirements that the government needs to meet when it comes to reporting federal performance
- Understanding the Public Finance Reform in a few British
- Commonwealth countries
- Overview on the public budgeting modernization and public financial management in the Republic of China
Beneficiaries of the Public Financial Management Certification Program
Brainmeasures make it a point to create a public financial management certification program which is capable of meeting the needs of individuals and professionals who are interested in gaining a more comprehensive background about the field. This program is more beneficial for professionals and administrators in both government and not for profit organizations who are planning to improve their skills and knowledge in organizational budget development, governmental and fiscal budgeting and financial management and governmental accounting.
Job Opportunities after Completing a Public Financial Management Certification Program
Honest and transparent individuals who hold public financial management certification are in great demand at present so expect to be able to access a wide array of jobs after finishing up the certification course. Here is a short list of the many jobs that you can access:
- Public Financial Management Associate
- Public Sector Financial Management Manager
- Public Sector Risk Management Senior Associate
- Public Financial Management Analyst
- Public Sector Program Manager
- Public Financial Management Systems Engineer
Expected Salary for Public Financial Management Certification Holders
It should also be noted that the average annual salary for public financial management certification holders is now $70,000.
We Guarantee Brainmeasures Certifications Are Just Worth
Brainmeasures is an ISO 9001-2008 certified company, Brainmeasures is a leading online skill testing company. Our certifications are acknowledged by employers worldwide. Reason behind this trust is our world class testing standards. Brainmeasures offers skills tests in over 1200 varied fields and over 100 professionally developed courses and certification programs.
- Certification tests are developed by experienced professionals and subject matter experts.
- Each test goes under four rounds of proofreading to make it 100% error free.
- All tests developed are first taken by experts who judge its standards and then give their feedback.
- Tests are developed to check actual understanding of candidate’s knowledge of the subject and not mere on basis on difficulty level.
- While developing each test this fact is considered that what is the motive and purpose of testing.
- Each test developed checks complete knowledge of the test taker on that particular subject.
- Complete testing is so designed that a candidate has to finish the test within given time frame thus ruling out chances of using unfair means.
- Our Certifications determine the performance capability of an individual critical to the job.
- Minimum standard of achievement is set by subject matter experts All certifications are updated regularly to include latest additions to the field.