Finance & supply chain · Short course
Generally Recognized Accounting Practices
The accounting practices used to organise and present public-sector financial information.
The programme
Programme overview
Expanded indicative outline. The subject areas are described below; proposed activities and final delivery requirements are confirmed with Ratomac before booking.
The accounting practices used to organise and present public-sector financial information.
The programme brings together reporting foundations, recognition and measurement, financial presentation and application review. The expanded outline below shows how these areas can be explored through explanation, discussion and the preparation of relevant work products.
A proposed workshop runs through the programme: A public-sector finance team needs to review the consistency of its accounting records and reporting decisions. Participants would examine the situation in stages, use the information provided and explain the basis of their decisions. The workshop is fictional and can be adapted when the final training plan is agreed.
Who should attend
Is this programme for you?
This outline is relevant to the following roles. Suitability and any formal entry requirements should be checked for the selected programme.
- Public-sector accountants, finance officers and reporting staff.
- Individuals preparing to take on responsibilities in this area.
- Teams seeking a shared approach to the work described in the programme.
Purpose of the learning
Intended learning outcomes
- Explain the purpose and users of a fictional financial report.
- Identify recognition and measurement questions needing an accounting decision.
- Review statement presentation and supporting disclosures.
- Prepare a working-paper checklist recording judgements and unresolved questions.
- Combine the module outputs into a reasoned response to the programme’s workplace scenario.
5 learning blocks
Detailed programme outline
01Reporting foundations
This part of the programme examines reporting foundations, with attention to purpose and accounting information. The practical task connects the subject to the programme’s workplace scenario and gives participants a specific output to discuss.
Topics to explore
- Purpose.
- Accounting information.
- Applied work: explain the purpose and users of a fictional financial report.
Illustrative practical exercise
Explain the purpose and users of a fictional financial report. Explain the information used, identify any assumptions and take part in a review of the proposed approach.
02Recognition and measurement
This part of the programme examines recognition and measurement, with attention to understanding accounting treatments. The practical task connects the subject to the programme’s workplace scenario and gives participants a specific output to discuss.
Topics to explore
- Understanding accounting treatments.
- Identifying the facts needed before an accounting treatment can be assessed.
- Documenting assumptions and unresolved questions for review by an appropriate specialist.
- Applied work: identify recognition and measurement questions needing an accounting decision.
Illustrative practical exercise
Identify recognition and measurement questions needing an accounting decision. Explain the information used, identify any assumptions and take part in a review of the proposed approach.
03Financial presentation
This part of the programme examines financial presentation, with attention to statements and supporting disclosures. The practical task connects the subject to the programme’s workplace scenario and gives participants a specific output to discuss.
Topics to explore
- Statements.
- Supporting disclosures.
- Applied work: review statement presentation and supporting disclosures.
Illustrative practical exercise
Review statement presentation and supporting disclosures. Explain the information used, identify any assumptions and take part in a review of the proposed approach.
04Application review
This part of the programme examines application review, with attention to records, consistency and accounting judgements. The practical task connects the subject to the programme’s workplace scenario and gives participants a specific output to discuss.
Topics to explore
- Records.
- Consistency.
- Accounting judgements.
- Applied work: prepare a working-paper checklist recording judgements and unresolved questions.
Illustrative practical exercise
Prepare a working-paper checklist recording judgements and unresolved questions. Explain the information used, identify any assumptions and take part in a review of the proposed approach.
05Integrated workplace workshop
A public-sector finance team needs to review the consistency of its accounting records and reporting decisions. The final workshop connects the earlier work rather than treating each topic as an isolated activity.
Topics to explore
- Bring together the outputs from the earlier modules into one coherent response to the scenario.
- Check that the recommendation addresses the original problem and is supported by the information available.
- Identify responsibilities, dependencies and matters that require specialist input or further evidence.
- Present the proposed response and revise it after questions from the facilitator and other participants.
Illustrative practical exercise
Prepare a concise presentation for the fictional organisation. Include the proposed response, the evidence supporting it and the decisions still required. Finish with a reflection on which aspects could be relevant to your own work.
From discussion to application
How the programme could be delivered
The proposed learning approach combines facilitator-led explanation, discussion of the subject areas and guided work on the fictional scenario. Each module produces a practical output that can be reviewed and improved.
Participants can work individually or in small groups to compare interpretations, explain their decisions and identify missing information. Feedback focuses on the connection between the task, the evidence used and the proposed response.
The final workshop brings the module outputs together. Ratomac will confirm the delivery format, learning resources, entry requirements and any formal assessment or certification arrangements for the selected programme.
Discuss your requirements
Dates, duration & arrangements
Contact Ratomac to agree the final programme, duration and delivery format. Include your preferred timing, location and whether the enquiry is for yourself or a team.
Discuss this programme ↗Indicative outline for discussion. The final syllabus is agreed with Ratomac before booking. The expanded learning activities and workplace scenario are original proposals for discussion with Ratomac.