CERTIFICATE COURSE ON PUBLIC FINANCE & GOVERNMENT ACCOUNTING

DETAILED MODULES

Modules Topics
Module 1 Public Finance
1. Public Finance - Meaning, Importance, Scope and Categories
2. Fiscal/Budgetary functions (Introduction)
3. Union-State-Local Governments’ Fiscal Relations
4. Role of Finance Commissions
5. Fiscal Federalism
Module 2 Public Revenue & Taxation
1. Sources of Tax and Non-tax Revenue for Centre, States and Local Govts.
2. Efficiency and Equity in Tax Policy Design
3. Principles of Income Taxation: Classical and Neo-classical
4. Tax Policy and Tax Administration in India
5. Tax collection by Government- Union, State & Local Governments
Recommendatory Inclusions:
• Best Practices adopted by the Various Developed Countries in improving the
Public Revenue & Taxation.
• World Bank / IMF Guidelines to the member countries on Public Revenue &
Taxation.
Module 3 Public Debt
1. Debt Profile of the Union Government and Debt Monetisation
2. Fiscal Deficit, Primary Deficit, Revenue and Effective Revenue Deficit
3. Fiscal & Monetary Policies and their objectives
4. Public Debt Management & Role of Finance Commission
5. Role of Fiscal Policy Towards Public Goods & Externalities
Recommendatory Inclusions:
• Best Practices adopted by the Various Developed Countries in minimizing
the Public Debt and Bench Marks.
• World Bank / IMF Guidelines to the member countries on: Public Debt.
Module 4 Public Expenditure
1. Public Expenditure-Meaning, Role, Canons and Classification
2. Effects of Public Expenditure on:
▪ Production
▪ Distribution (including subsidies)
3. Budget Cycle:
▪ Planning,
▪ Preparation,
▪ Execution,
▪ Monitoring,
▪ How to interpret data from Budget document
4. Public Investment Management
5. Project Financial Structuring: Infrastructure financing, PPP, Viability Gap
Funding, Bonds, Externally Funded Projects
6. General Financial Rules, 2017
7. Procurement Manual, 2017:
▪ Audit of Public Procurement
▪ DoE circular of 29th Oct., 2021 on General Instructions on Procurement
and Project Management.
 8. Delegation of Financial Power Rules (DFPRs)
9. CVC Guidelines
Module 5 Government Accounting
1. Constitutional Provisions
2. Structure of various ministries/departments of Government of India
3. Controller General of Accounts - Hierarchy and Functions
4. Structure of Government Accounts and Flow of Funds
5. Classification of Government Accounts - Consolidated Fund, Contingency
Fund and Public Accounts
6. Classification of Government expenditure in India including introduction to
Chart of Accounts
7. Receipts and Expenditure and Other than Revenue – Capital (Receipts &
Expenditures), Public Debt, Loans and Advances, Appropriations to the
Contingency Fund.
8. Public Accounts, Banking Arrangements, Bankers to the Government
9. Consolidation of Account
Module 6 Accounting Rules, Process, in general & at specific Ministries
1. Study of
o The Government Accounting Rules, 1990
o Government of India (Transaction of Business) Rules, 1961 (introduction
only)
o The Government of India (Allocation of Business) Rules, 1961 (introduction
only)
2. Flow of accounting process
3. Accounting of Work departments.
4. Reference of IGAS
5. Treasury Single Accounts System and working system of treasuries
6. Role of the Pay and Accounts Office (PAO), DDOs, Principal Accounts Office
7. Compilation of Accounts.
8. Duties and functions of the Secretary of Principal Accounting Authority to
various Ministries/ Departments.
9. Revenue Accounting in case of CBDT/CBIC
Module 7 Union Accounts
1. Study of the Consolidated Union Accounts prepared by the CGA
2. Study of the Annual Appropriation Accounts and Union Finance Accounts and
its preparation
3. Analysis of expenditures, revenues, borrowings and the deficit
Module 8 State Accounts
Organisational framework, Accounting structure, Accounting classification,
and Accounts compilation (Monthly and Annual) in State Governments.
Module 9 PFM Structure – Introduction
International & National best practices
Module 10 Accounting/Auditing of Constitutional, Statutory, Autonomous and
Regulatory Bodies
1. Structure of the Constitutional, Statutory, Autonomous and Regulatory
Bodies
2. Benefits, Rules and Regulations covering Constitutional, Statutory,
Autonomous and Regulatory Bodies
3. Accounting/Auditing of Constitutional, Statutory, Autonomous and
Regulatory Bodies
 4. Presentation and Disclosure of the Government Grants to these bodies.
Module 11 Urban Local Bodies
1. Introduction:-
a. NMAM
b. National Municipal Asset Valuation Manual
c. State Municipal Accounts Manuals/Rules
2. Taxation
3. Audit
Module 12 Panchayati Raj Institutions (PRIs)
1. Introduction and Structure of Panchayati Raj
2. Introduction of e-Gramswaraj and e-Gramswaraj - PFMS Interface
3. Accounting and auditing of Panchayati Raj Institutions
• Model Accounting System/Introduction of PRIASoft
• Guidelines for Financial Audit of PRI/ Audit Online Accounting of
PRIs -Model Accounting System
4. Taxation of PRIs
5. Role of MoPR
Module 13 Internal Control and Risk Management
1. Internal Control Systems in Government
2. Internal Audit
3. Internal Orders issued by Individual Government Agencies.
4. Outcome Budgeting & Reporting
5. Procurement Control, Asset Controls, Cash Controls, etc.
6. Type of Audit – Role of CAG & PAC
7. Fiduciary Wide Risk Management
8. Fiscal Responsibility: Objectives, International Experience & Practices-
FRBM Act
9. Contingent liability
10. Parliamentary Control
Module 14 Accounting and Auditing of Externally Aided Projects (EAPs) in India

Module 15 Professional Opportunities for Chartered Accountants in Government

National prospects
1. Commitment Control
2. PFMS
3. Externally Aided Projects
4. ULB/RLB
5. IGAS
6. IGFRS