The Chart of Accounts (COA) is at the heart of a government’s financial management system. It enables fiscal controls, discipline, and transparency while supporting performance and policy management. It likewise facilitates reporting and data analysis. A carefully designed unified COA is a prerequisite for Public Financial Management modernization and digitalization.
The Chart of Accounts (COA) Course is designed to help government financial managers explore the fundamental design criteria for creating a modern and effective COA. Through this course, participants will learn how a well-designed COA can streamline reporting, provide global visibility and improve compliance.
- Explore fundamental design criteria for creating a forward-thinking COA.
- Learn how a well-designed COA streamlines reporting, provides global visibility and improves compliance.
- Understand how to leverage FMIS features like roll-ups, reporting, and mapping.
- Designing a COA
- Harmonizing budget and accounting classifications
- Standard classification systems like the Government Finance Statistics (GFS) and Classification of the Functions of Government (COFOG)
- Configuring a COA
- Mapping and migrating a COA
- PFM consultants
- GRP Consultants
- Business Analysts
- Civil Servants
Purchasing encompasses all activities related to the acquisition of goods, services, and works. A good purchasing and public procurement system ensures that the needs of the end-users in organizations are met while maximizing value-for-money. Because most organizations implement its mandate through contracting third-party providers, an efficient purchasing system that enforces sufficient internal controls and that promotes transparency and ease of audit is key to government operations.
Expenditure refers to the payment of a sum of money by an organization, arising from a valid commitment or obligation.
Budgeting and Appropriations
Executing a fiscal budget is a crucial responsibility of any government. To ensure that spending stays within the approved limits, various budget controls are put in place during the budget execution phase. The Budgeting and Appropriations course trains government officials in these vital expenditure controls.