Public Sector Financial Management (The C & H Series in Accounting and Finance) - Softcover

Coombs, Hugh; Jenkins, D. E.

Softcover

ISBN 10: 0412565609 ISBN 13: 9780412565601

Publisher: Cengage Learning Emea

Synopsis

The speed of change affecting the world of the public sector manager shows no sign of slowing down. The third edition of Public Sector Financial Management keeps pace with these changes. The text emphasises the dynamic nature of change and the increasing role of markets and competition in the public sector, examines current practices, and, where appropriate lessons to be learned from the private sector. Completely revised and up-dated this new edition explains how modern financial management techniques are applied to the public sector. The authors adopt a practical approach, using real world examples and useful case studies. Their clear and lucid style makes this book an invaluable aid to learning.

About this title

Review:

Preface To Third Edition 1. INTRODUCTION 1.1 The Public Sector Planning Process 1.2 The Citizen?s Charter 1.3 The Financial Management Initiative 1.4 The National Health Service 1.5 Local Government 1.6 The Nationalized Industries and Public Corporations 1.7 Summary 1.8 Conclusion 1.9 Appendix 1.1: Summary of the Supply Process 2. OPERATIONAL AND SERVICE-BASED COSTING 2.1 The Use of Costs In Efficiency and Value-for-Money Studies 2.2 Unit Cost Statements 2.3 The Measurement and Control of Overheads 2.4 The Advantages of Full Apportionment 2.5 Criticisms of Apportionment 2.6 An Example of Overhead Recovery 2.7 Some Applications within the NHS 2.8 Summary. Questions 3. COST VARIABILITY AND RELEVANT COSTS 3.1 Cost Classification by Behaviour 3.2 Revenue and Contribution 3.3 The Importance of Cost Behaviour 3.4 Problems Relating to the Cost of Behaviour Approach 3.6 Relevant Costs and the 1990s 3.7 Costing and Survival3.8 Summary. Questions 4. BUDGETING 4.1 The Objectives of Annual Budget Preparation 4.2 Approaches to the Budgetary Process 4.3 The Bid System 4.4 Financial Planning Systems 4.5 Planning Programming Budgeting Systems (Ppbs) 4.6 Zero-Based Budgeting (ZBB) 4.7 Formula Funding 4.8 A Practical Approach to Budgeting 4.9 Budgeting in a Competitive Environment 4.10 Summary. Questions 5. BUDGETING CONTROL 5.1 Essentials of a System of Budgetary Control 5.2 Commitment Accounting 5.3 Expenditure Profiling 5.4 Virement 5.5 Supplementary Estimates 5.6 Reports 5.7 Controlling Central Government Expenditure 5.8 Flexible Budgeting and Performance Measurement 5.9 Control By Standards 5.10 Examination of Variances 5.11 Control of Fixed Overheads 5.12 Control of Capital Programmes 5.13 Human Aspects of Budgetary Control 5.14 Summary. Questions 6. THE MANAGEMENT OF WORKING CAPITAL 6.1 Treasury Management 6.2 Cash Management 6.3 Bank Reconciliation 6.4 Transfer of Money 6.5 Alternative Investment Instruments 6.6 Borrowing 6.7 The Practice of Investment Management 6.8 Management of Debtors 6.9 Management of Creditors 6.10 Management of Stock 6.11 Summary. Questions 7. THE FINANCING OF CAPITAL EXPENDITURE 7.1 The Central Objective in Capital Financing 7.2 Financing from Revenue 7.3 Financing by Borrowing 7.4 Financing from Reserves 7.5 Financing by Leasing 7.6 Capital Expenditure Controls and Local Authorities 7.7 Capital Expenditure Controls and the National Health Service 7.8 Special Topic 1: Setting a Borrowing Strategy 7.9 Special Topic 2: A Property Leaseback Deal 7.10 Special Topic 3: Derivatives 7.11 Summary. Questions 8. CAPITAL BUDGETS AND CAPITAL PROGRAMMES 8.1 The Definition of Capital Expenditure 8.2 The Generation of New Products 8.3 The Multi-Year Capital Programme 8.4 Detailed Project Appraisal 8.5 The Administrative Ranking of Projects 8.6 Summary. Questions 9. PROJECT APPRAISAL 9.1 Discounted Cash Flow 9.2 Ranking Projects 9.3 Risk and Uncertainty 9.4 The Cost of Capital 9.5 Inflation 9.6 Other Techniques of Investment Appraisal 9.7 Cost-Benefit Analysis 9.8 Cost-Effectiveness Analysis 9.9 Summary. Questions 10. THE AUDIT OF PUBLIC SECTOR ORGANIZATIONS 10.1 The Audit of Central Government 10.2 The Health Service 10.3 Local Government 10.4 The Public Corporations 10.5 Value-for-Money Auditing 10.6 Sources of Value-For-Money Study 10.8 Effectiveness Auditing 10.9 Summary. Questions. Appendix: Present Value of 1. 11. Case studies, References, Further reading, Index.

About this edition

• Publisher: Cengage Learning Emea
• ISBN 10: 0412565609
• ISBN 13: 9780412565601
• Binding: Paperback