Introduction to Financial Management (FINC7000)

Introduction to Financial Management

Introduction to Financial Management


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.

Who Should Attend?

Anyone who will benefit from a comprehensive overview of financial management in the federal government, but especially program analysts, administrative officers, auditors, financial analysts, management analysts and interns/trainees in financial management career fields.




24 CPE's

Class Type:

This course is currently being offered in the following training modalities:

Learning Outcomes:

  • 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 governmentwide policies pertaining to cash and debt management

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Day one of three
Module 1: Overview of Financial Management

  • Introduction/ Learning Outcomes
  • What is financial management and why is it important
  • Central financial organizations
  • Central agency collaboration
  • Knowledge Check

Module 2: Personnel—Important Component of Good Financial Management

  • Introduction/Learning Outcomes
  • Who works in financial management
  • Human resource requirements
  • Ethical standards for financial managers
  • Exercise 2-1: Ethical Decision Situations
  • Exercise 2-2: Progressive Case Study, Part 1
  • Knowledge Check

Module 3: The Federal Budget Process

  • Introduction/Learning Outcomes
  • History of the federal budget process
  • Basic concepts of federal budgeting
  • Overview of the federal budget process
  • Preparation of the President’s Budget
  • Overview of the Congressional Action phase
  • Overview of the Budget Execution phase
  • Overview of the Audit and Review process
  • Exercise 3-1: Progressive Case Study, Part 2
  • Knowledge Check

Day two of three
Module 4: Financial and Performance Management

  • Introduction/Learning Outcomes
  • Nature of performance measurement
  • Overview the Government Performance and Results Act (GPRA)
  • Key features of GPRA
  • GPRA Modernization Act of 2010
  • Recent initiatives to improve performance
  • Exercise 4-1: Progressive Case Study, Part 3
  • Knowledge Check

Module 5: Accounting Principles and Standards

  • Introduction/Learning Outcomes
  • Overview of federal accounting
  • Fund control and account structure
  • Federal accounting standards
  • Financial reporting
  • Exercise 5-1: Progressive Case Study, Part 4
  • Knowledge Check

Day three of three
Module 6: Financial Systems

  • Introduction/Learning Outcomes
  • Nature of financial systems
  • Functions of financial systems
  • Financial management systems policy
  • Human resource requirements
  • Exercise 6-1: Progressive Case Study, Part 5
  • Knowledge Check

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