Key accounting and financial principles

The council executive team has a critical role in relation to abiding by local government financial requirements, monitoring the council’s financial performance, and ensuring its longer-term financial sustainability.  

All members of this team therefore need a solid understanding of key accounting and financial principles.  This half-day workshop is designed to provide such understanding.

Key content:

• Basic accounting concepts and principles
• Financial management requirements for local government
• The strategic, financial, and operational plans and their links to financial accountability
• Accounting standards and statutory obligations of councils and senior executives
• Understanding and interpreting financial statements and their links to each other
• Monitoring the performance of your council through trends, ratios and KPIs
• The board’s role in setting budgets, signing off on reports and monitoring performance
• Case studies/skills practice