If you’re looking to enter the world of public finance, the ICGFM Foundation Course in Public Financial Management is the perfect place to start. This course offers a well-rounded introduction to all the essential concepts of public financial management, taught by Dr Michael Parry, a globally renowned PFM expert.

The course is delivered entirely online, through a mix of prerecorded video presentations, workbooks and other reference materials. And at the end of each module, you’ll put your new knowledge to the test with a self-administered assessment.

Once you’ve successfully completed the course and final exam, you’ll be awarded the ICGFM Foundation Certificate – an internationally recognized credential that will open doors and help further your career.

So don’t delay – sign up today and take your first step towards success in the world of public finance!

Course Objectives

  • Facilitate or enhance career opportunities in the Public Sector
  • Complete basic tasks required for a career in PFM
  • Understand how governments account for public money
  • Prepare and understand cash and accrual government financial reports
  • Prepare, manage, and report on government budgets
  • Be familiar with international standards on financial reporting and transparency
  • Understand how the whole public financial management process is controlled and audited
  • Understand public financial management assessment and reform
  • So much more…

Course Content

ModuleCoverage summaryCase study tasks
1Introduction, concepts, government accounting and the application of double entry to government accountingRecording simple transactions of a government
2Public sector accounting, cash and accrual basis, cash flow statements, computerised accountingRecording transactions in ledger accounts, trial balance, cash and accrual final accounts
3Financial reporting standards for governments – International Public Sector Accounting Standards (IPSAS) and IMF Government Finance Statistics (GFS). Detailed study of cash basis IPSASPreparing financial reports in accordance with the cash basis IPSAS and on an accrual basis
4Government budgeting, budget preparation, the concept of a ‘basic budget’, fiscal forecasts and budget ceilings, budget to actual financial reportsPreparation of a budget Budget to actual comparison
5Introduction to MTEF, budget classification and the chart of accounts, budget implementation and commitment managementRecording commitments in vote ledger Revised budget
6PFM laws, institutions, governance, internal control and audit, external audit, international Standards for Supreme Audit Institutions, PFM assessment, and PFM reformControl and audit reports Reform plan

Target Audience

  • Individuals who want to embark on a career in the public sector
  • Government employees who want to enhance their career opportunities
  • Consultants working within the PFM environment
  • Donor-funded Projects that include a PFM element
  • Literally anyone who wants to understand PFM in the real world

Additional Benefits

Every student receives 12 months access to the following:

  • 10 hours of video micro-lessons teach the foundations of PFM
  • 6 detailed Study Guides carefully navigate students through each module
  • Scenario-based case studies equip students with real-world, practical skills
  • Short quizlets reinforce important information and maintain interest
  • Unlimited attempts at all exams optimises chance for success
  • 6 module tests, plus the final examination validate student understanding
  • No printer required – course is all online
  • A guaranteed pathway to the ICGFM Diploma in Public Financial Management or a solid foundation for other professional qualifications

From Turks and Caicos to the USA, Denmark to Mozambique, the ICGFM Foundation Course in PFM has helped individuals achieve career goals and assisted governments in training staff all over the world. The course has also played an important role in numerous doner-funded projects.

ICGFM is a non-profit association that was established in 1978. Through training, education and advocacy, and awareness, ICGFM promotes best practices in public financial management globally. If you’re looking for a real-world understanding of Public Financial Management, this course is for you.

Dates On Demand
Length 50-70 hours
Pace Self Paced
Fees $500 – No CPE credits
$525 – 50 CPE credits
Language English

Offered By


ICGFM is a non-profit association that was established in 1978. It was founded by a distinguished group of international financial management professionals from government and academia.

ICGFM members include government entities, private sector firms, professional associations, and university departments as well as individuals dedicated to improving financial management around the world.

ICGFM’s dedication to excellence and membership of highly qualified PFM organisations and professionals sets ICGFM apart as an organisation that is uniquely qualified to deliver PFM Courses around the world.

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