Financial Management and Accounting in the Public Sector
By Gary Bandy
Routledge – 2011 – 286 pages
In light of the worldwide economic crises, the public sector is coming under increasing financial pressure as budgets are reduced on a large scale whilst demands for public services are on the rise.
In such austere times managers working in the public sector are confronted daily with targets and demands that are often set in confusing accounting and financial language. In Financial Management and Accounting in the Public Sector, Gary Bandy employs a clear and concise narrative to introduce the core concepts of accounting and financial management in the public sector and how to deliver services that are value for money.
With a glossary of terms to help managers understand and be understood by accountants, as well as learning objectives and discussion questions, this 'hands-on' textbook will help students of public management and administration to understand the financial and accounting aspects of creating public value.
'Gary Bandy has written the book on Public Financial Management which we've all been secretly hoping for, but were too embarrassed to admit we needed. He unlocks the secrets of budgeting and reveals the mysteries of financial management, in plain intelligible language which non financial managers can understand. Never again will Treasurers be able to mystify us with their jargon! Gary has managed to provide clear explanations of complex concepts and procedures. It is a long overdue resource for public leaders and managers. This is a major milestone'
Emeritus Professor John Benington, Warwick University Business School, UK
"This book is an innovative and wonderful addition to the literature on public sector management and it is, therefore, very useful to new students of this subject and practitioners in this area. As this book has originated from the author’s consultancy work in training public servants responsible for financial management in public sector organisations, it is an excellent resource to run short courses for training public servants responsible for financial management in public sector organisations around the world."
Prof. Sardar M. N. Islam, CSES, Victoria University, Australia
1. The Context of Managing Public Money 2. Budgets and Budgeting 3. Taxation and other Sources of Income 4. Controlling Income and Expenditure 5. Financial Aspects of Decision Making 6. Partnerships and Contracts 7. Accountability and Financial Reporting 8. Audit 9. Measuring Performance and Value-for-Money 10. Conclusion: Ten Principles for Managing Public Money
Gary Bandy is an independent consultant who assists a range of public sector organizations on financial and commercial issues. He is also an Associate Fellow of Warwick Business School, UK where he teaches financial management on public sector programmes.