The ICB Public Sector Accounting teaches you about the accounting method that is used in central and local governments, as well as other non-profit public sector entities. When you complete these courses you will be well equipped to become a public sector accountant.
What is the Public Sector?
The public sector refers to all the public services and public enterprises in a specific economy. It includes all institutions run by the government. It’s all the parts that make up the local, provincial, and national governments. This goes across many institutions, such as different government departments, non-profit organisations, state owned companies, and even municipalities.
What Does a Public Sector Accountant Do?
The public sector accountant ensures that the finances of the government is run smoothly. They review the financial documents of the government and the taxpayers. Their work ranges from the auditing of tax accounts as well as investigating government agencies’ financial accounts for possible fraudulent activity. The reason for specialising in this is because the aims of public sector accounting differs from accounting practices in the private sector.
Public sector accountants are monitored by The International Public Sector Accounting Standards Board, known also by the acronym of IPSASB. IPSASB is responsible for developing the standards in accounting for entities in the public sector worldwide.
Public sector accounting duties include the following:
- developing and managing financial management systems and policies
- ensuring the effective financial management of public money
- making financial decisions and advising key bodies and individuals
- preparing and monitoring budgets and accounts
- controlling expenditure and cash flow
- undertaking financial administration
- preparing reports on annual accounts and budget information for the auditor
- controlling the overall capital and revenue budgets for departments
- assessing and advising on estimates for project funding and continuing running costs
- preparing recommendations on large-scale projects
- checking that funding is properly distributed
- conducting internal audits, for example working on wage reviews
- checking creditors’ invoices
- charging customers for services
- examining financial records and statements to check for accuracy
- balancing the costs of specific public services against income
- keeping up to date with developments in public sector financial and management accounting practices
- managing and training staff, when employed at a senior level
What are the ICB Public Sector Accounting Courses?
- Bookkeeping and Trial Balance
- Computerised Bookkeeping
- Business Literacy
- Public Accounting Administration
This is a 12 month course and serves as the entry-level course for the programme. The entrance requirements for this course is Grade 11 or an NQF 3 qualification. You don’t need any accounting knowledge to do this course.
- Financial Statements
- Cost and Management Accounting
- Business Law and Accounting Control
- Technical Public Accounting
This is also a 12 month course that serves as the intermediate course for the Public Sector Accounting course programme. The entrance requirement for this course is the National Certificate: Public Sector Accounting.
- Corporate Strategy
- Management Accounting Control Systems
- Financial Reporting and Regulatory Frameworks
- Research Theory and Practice
The last and final course in the Public Sector Accounting programme. It is also 12 months in length and serves as the advanced-level course. The entrance requirement for this course is the Diploma: Public Sector Accounting.
Why Study ICB Public Sector Accounting?
This is the perfect course and ICB qualification to study if you wish to one day be a public sector accountant. Studying through the ICB offers many doors for you, as it’s accredited, internationally recognised, and offers opportunities of professional memberships.
Why Choose Skills Academy?
Here at Skills Academy we do everything in our power to ensure that you achieve success in your studies, even if it is distance learning. When signing up with Skills Academy, you are automatically signed up in a study group with other students that study the same course and subjects as you, along with a course expert. We also provide support via telephone, email, and WhatsApp. We go the extra mile to help you do the best that you can.
How Do I Register?
To register for an ICB course, you first have to sign up and register with your chosen training provider. After that you can register at the ICB on their Learner Portal. To start your journey to a better future, fill in the form on this page for a free callback, or call us toll free at 0800 39 00 27.
Written by: Maretha Lubbe
Last Updated: April 17, 2019