2.
Understand how to use financial information for decision-making and control
Management accounting information Setting of budgets, costing and budgeting information, management accounts Information on proposed expenditure, capital projects including PFI, problems of annual financial cycle Monitoring The budgetary process, monitoring variance from budget, monitoring expenditure (capital and revenue), monitoring the different revenue collection streams, review by politicians – local and national Financial decision making Role of Central Government and funding, information available and required for decision making, Indicators to meet organisational aims or given targets, non-financial factors in public sector decision making, capital projects and investment appraisal techniques (use to evaluate large items of expenditure), ratio analysis, cost benefit analysis 3.
Understand how to manage a public sector tender process
Tender process Political issues, parameters for putting projects out to tender including government and international/EU requirements, using previously approved suppliers, process for approval of suppliers, process for putting projects out to tender and where to find them, importance of fair process including equality issues, case studies e.g. Thames link railway contract Evaluation of tenders Setting criteria to evaluate tenders, guidelines and parameters to be applied e.g. value for money guidelines, requirements in terms of contractor suitability e.g. financial stability, monitoring and recording of evaluation process, feedback to unsuccessful suppliers, case studies e.g. MOD contract
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