# Introduction to Financial Management Course (Self-Paced)

Canonical URL: <https://www.graduateschool.edu/courses/introduction-to-financial-management-course-self-paced>

## Overview

Obtain a comprehensive overview of the significant aspects of financial management. Gain an understanding of the fundamentals of the laws, critical concepts, procedures, and policies involved with sound financial management. Learn to link management, budgeting, and auditing to performance measurement; recognize the primary requirements of financial systems; and adhere to government-wide policies.

## What you'll learn

- Describe financial management in the Federal Government.
- Identify key roles played by various financial management personnel.
- Identify the phases of the federal budget process.
- Describe the role of financial information in performance management.
- Explain basic principles of federal accounting.
- Distinguish federal financial systems from other types of systems.
- Explain the purpose of internal controls and control systems.
- Adhere to government-wide policies regarding cash and debt management.

## Curriculum

**Module 1: Overview of Financial Management**

- Define financial management in the federal government and explain its importance.
- Identify key components of sound financial management and central agencies that set financial standards and policies.
- Understand stewardship, accountability, and the role of budgeting in government operations.
- Examine how planning, control, communication, cost-effectiveness, evaluation, and personnel contribute to effective management.

**Module 2: Personnel—Important Component of Good Financial Management**

- Recognize the roles of budget analysts, accountants, economists, auditors, and financial analysts in federal financial management.
- Understand human resource requirements and core competencies for financial management positions.
- Apply ethical standards from law, professional organizations, and personal values to decision-making.
- Identify and resolve ethical dilemmas in the financial management context.

**Module 3: The Federal Budget Process**

- Describe the history, purpose, and key legislation guiding the federal budget process.
- Explain the three major phases—formulation, congressional action, and execution—and their timelines.
- Understand roles of OMB, CBO, GAO, and congressional committees in budget development and oversight.
- Recognize requirements for appropriations, apportionments, allotments, and budget execution controls.
- Understand the role of review and audit as an ongoing process in the budget cycle.

**Module 4: Financial and Performance Management**

- Understand the relationship between financial information and performance measurement under GPRA and the GPRA Modernization Act.
- Develop strategic plans, performance budgets, and annual performance reports linked to measurable outcomes.
- Use performance indicators to assess program results and improve decision-making.
- Explore recent initiatives to improve transparency, accountability, and cross-agency collaboration.

**Module 5: Accounting Principles and Standards**

- Describe proprietary (accrual) and budgetary accounting in the federal sector.
- Understand fund structures, fund control, and the U.S. Standard General Ledger (USSGL).
- Recognize the role of the Federal Accounting Standards Advisory Board (FASAB) in setting GAAP for federal entities.
- Apply accounting standards to prepare accurate and timely financial statements.

**Module 6: Financial Systems**

- Identify characteristics and requirements of federal financial systems, including integration with mixed and program systems.
- Describe core functions such as general ledger management, funds management, payment management, and reporting.
- Understand OMB policies for developing and maintaining compliant, standardized, and efficient systems.
- Explore trends toward standardization, elimination of redundancy, and improved information consistency.

**Module 7: Internal Controls**

- Explain the purpose and goals of internal controls under the Federal Managers’ Financial Integrity Act (FMFIA).
- Apply OMB Circular A-123 guidance to develop, assess, and report on internal control systems.
- Understand GAO’s Green Book standards for environment, risk assessment, control activities, information/communication, and monitoring.
- Identify and correct control deficiencies, including material weaknesses and reportable conditions.

**Module 8: Other Financial Management Functions**

- Manage cash and debt in compliance with the Prompt Payment Act, CMIA, and the Debt Collection Improvement Act.
- Apply financial management principles to federal assistance programs, grants, and cooperative agreements.
- Follow uniform administrative requirements, cost principles, and audit standards for recipients of federal funds.
- Ensure proper financial reporting, cost-sharing, and program monitoring for assistance programs.

## Pricing

**Tuition:** $1199