Introduction to Public Financial Management Explained | Summary Guide for Accounting Officers | PFM

Описание: Public Finance Management (Or PFM) relates to how the resources available to the government are utilized and accounted for.

An accounting officer for a department must ensure that that government has and maintains effective, efficient and of financial and risk management and internal control.

The objective of Public Financial Management is to achieve value for money in meeting the goals of government through being transparent and complying with all relevant legislation.

Public Financial Management integrates all components in government and affects service delivery.

Public Financial Management relates to how available resources are managed in the government in an effective, effective and economical way.

Government should therefore safeguard the resources from abuse and misuse through implementing proper processes and being transparent.

One of the mandates of government is service delivery, and this is achieved through the effective and efficient management of finances and economical utilization of resources.

Therefore, there is a close inter-dependency between service delivery and financial management. 

Better financial management = Better utilization of resources = Service delivery.

Reference

https://gsdrc.org/professional-dev/pu...

https://oag.treasury.gov.za/Publicati...

https://oag.treasury.gov.za/Publicati...

http://www.treasury.gov.za/legislatio...

In this video, we provide a summary to Public Financial Management:
0:00 Introduction
0:38 Welcome To Our Channel
1:05 Table of Contents
2:24 Other Related Videos
2:58 Defining Public Financial Management.
3:44 Objectives of Public Financial Management.
4:09 Segments of Public Financial Management
4:57 Concepts under Financial Management in the Public Sector.
6:19 General Responsibilities of an Accounting Officer in relation to:
10:14 How the financial management is linked to Service Delivery and Supply Chain Management

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Disclaimer:
This publication and the information included in it are not intended to serve as a substitute for consultation with a professional. Specific issues, concerns and conditions always require the advice of an appropriate professional advisor. The use of the contained information is at the user's own discretion.