Aim:
Value based investment or expenditure is the essence of the Financial Management.
Every suitable financial concept must be analyzed and applied from the viewpoint of
each stake holder before final decisions are taken. New financial concepts including
derivatives, portfolio management etc., are introduced in this training design in order to
enable Financial Managers and Senior Executives to arrive at better alternative
investment decisions. Analysis of financial portions of economics will also enable them
to draft legislation or improve existing legislation to protect the interest of stake holders
and to curb the speculations and malpractices.
Therefore, the aim of this training programme is to facilitate practicing Finance Managers
from the Finance Department of State Governments and Senior Executives from
Administrative Departments to understand and analyze financial statements with a view
to taking corporate finance decisions.
Training Need
There is an ever-increasing need to meet the changing scenario in the management of
government departments, local bodies, autonomous bodies and PSUs. The changes are
felt from the following angles:-
ß Public interest
ß High quality and understandable documentation
ß Uniform internal and external accounting and financial documentation system
ß Uniforms internal and external financial rules and regulations
ß Enforceable global accounting standards.
ß Transparency in financial information and procedures.
ß Uniform financial statements from the point of view of effective comparison.
ß Uniformity in financial reporting system.
ß Introduction of enforceable penal provisions.
ß Consultation system to determine high quality solutions.
ß Quick availability of financial information, to all.Implementation of some of the above ideas may take fairly a long time. But the felt need
is to prepare the present financial managers and the senior executives for changes in the
system with a view to orienting them to improved levels of efficiency and effectiveness.
Phases of Training
To achieve the above aims, training is designed in the following 7 Learning Units in two
phases.