UNIVERSITY OF CAPE TOWN

PUBLIC SECTOR FINANCIAL REPORTING

Learn to create transparent and accurate public financial reports using core accounting frameworks

Duration

12 weeks, excluding
orientation

Effort

12–13 hours per week,
self-paced learning online

Learning Format

Weekly modules,
flexible learning

ON COMPLETION OF THIS COURSE, YOU’LL WALK AWAY WITH:

1

An in-depth analysis of the differences between the IFRS, GRAP framework, and the modified cash basis, and how these relate to the creating public sector financial statements.

2

Insight into how budget information is included in financial statements, the methodology behind accounting policies, and ways to effectively manage changes in estimates and errors.

3

A conceptual framework that allows you to follow the processes required to generate annual financial statements while working with a financial reporting team in the public sector.

4

The practical skills to navigate public sector accounting principles and appropriately report on revenue, assets, liabilities, and construction contracts and working capital.

COURSE CURRICULUM

Over the duration of this online short course, you’ll work through the following modules:

Module 1
Reporting Environment for Public Sector Entities

Discover the entities involved in, and relevant reporting frameworks for, financial reporting in the public sector.

Module 2
Conceptual Framework for Public Sector Financial Reporting

Explore the various elements that comprise public sector financial statements.

Module 3
Preparing Financial Statements for Public Sector Entities

Discover how budget information is included in financial statements, how the statement of cash flows work, and how accounting policies, changes in accounting estimates, and errors are managed.

Module 4
Accounting for Revenue: Exchange Transactions

Learn how to appropriately report and disclose revenue from exchange transactions.

Module 5
Accounting for Revenue: Non-Exchange Transactions

Learn how to appropriately deal with non-exchange transactions.

Module 6
Accounting for Non-Current Assets: Property, Plant, Equipment (PPE), and Investment Property

Explore GRAP standards and learn how non-current assets such as property, plant, equipment, and investment property are accounted for and reported.

Module 7
Accounting for Non-Current Assets: Intangible, Heritage, and Living and Non-Living Assets

Discover the guidance on accounting for non-current assets, such as intangible and heritage assets.

Module 8
Accounting for Non-Current Assets: Impairment of Assets

Learn how to identify, recognise, and measure impaired assets.

Module 9
Accounting for Liabilities, Provisions, Contingent Liabilities, and Contingent Assets

Learn how to account for liabilities, provisions, contingent liabilities, and contingent assets.

Module 10
Disclosures for Liabilities, Provisions, Contingent Liabilities, and Contingent Assets

Explore how to identify adjusting and non-adjusting events, and the disclosure requirements for liabilities, provisions, contingent liabilities, and contingent assets.

Module 11
Accounting for Construction Contracts and Working Capital

Discover how construction contracts, statutory receivables, and inventory are accounted for.

Module 12
Modified Cash Basis

Explore how the accrual basis of accounting differs from the modified cash basis of accounting.

 

Please note that module titles and their contents are subject to change during course development.

COURSE CONVENOR

Shelly Herbert

Chartered Accountant (SA) and Senior Lecturer, College of Accounting, UCT

Herbert has served as a lecturer at the College of Accounting since 2009. She is currently the course convenor for the accounting honours programme, and lectures on both the postgraduate diploma in public sector accounting and on second- and third-year financial reporting courses. She is a co-author of the Financial Accounting: IFRS Principles and Financial Accounting: Groups textbooks, both commissioned and published by Oxford University Press. Herbert holds a Master of Commerce degree in financial accounting, as well as a bachelor of commerce (honours) and postgraduate diploma in accounting from UCT.

The Public Sector Financial Reporting online short course from the University of Cape Town (UCT) is based on the Postgraduate Diploma in Public Sector Accounting offered by UCT. Part of this programme has been developed into smaller online short courses that allow professionals to study specific areas of public sector structures, governance, accounting and finance, in order to bolster their skills in this important and relevant field.

AN ONLINE EDUCATION THAT SETS YOU APART

This UCT online short course is delivered in collaboration with online education provider GetSmarter, part of edX. Join a growing community of global professionals, and benefit from the opportunity to:

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Gain verifiable and relevant competencies and earn invaluable recognition from an international selection of universities and institutions, entirely online and in your own time.

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Enjoy a personalised, people-mediated online learning experience created to make you feel supported at every step.

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Experience a flexible but structured approach to online education as you plan your learning around your life to meet weekly milestones.

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