Financial Management and Accounting in the Public Sector

The importance of public financial management for the health and wellbeing of citizens became apparent during the pandemic, and this textbook provides a clear and concise narrative to help managers deliver value for money. It has been revised and updated to include greater coverage of transparency and accountability issues, a broader view of public procurement, and an increased focus on public spending in a post-COVID environment.

Format: Hardback
Length: 392 pages
Publication date: 14 March 2023
Publisher: Taylor & Francis Ltd

The significance of public financial management for the health and welfare of citizens became increasingly evident as governments grappled with the challenges posed by the COVID-19 pandemic in 2020. In the aftermath of this global crisis, governments and other public sector organizations are now tasked with the dual objectives of recovering from the pandemic while also striving to achieve the Sustainable Development Goals (SDGs). However, these goals are met with significant constraints, including limited budgets and escalating demands for public services.

Public sector managers face a constant barrage of targets and demands that are often conveyed in complex and convoluted accounting and financial jargon. In such a challenging environment, the book Financial Management and Accounting in the Public Sector by Gary Bandy emerges as a valuable resource for those managers seeking to deliver cost-effective programs, projects, and services. Bandy emphasizes that managing public money is an art, not a science, and his book aims to provide a clear and concise narrative to introduce the core concepts of public financial management.

The third edition of this textbook has undergone extensive revisions and updates to ensure its relevance and accuracy. It offers a more structured approach that aligns with the stages of the public financial management cycle, providing a comprehensive coverage of transparency and accountability issues. Moreover, the book expands its perspective on public procurement to encompass goods, works, and services, along with effective contract management. Additionally, a heightened focus on public spending in the context of the post-COVID environment is incorporated.

To enhance the accessibility and understanding of the material, the book includes a glossary of terms designed to assist managers in communicating with accountants. It also includes learning objectives, discussion questions, and exercises to facilitate student engagement and comprehension. This practical textbook is particularly valuable for students pursuing degrees in public management and administration, as it equips them with the financial and accounting knowledge necessary to effectively manage public services.

In conclusion, the importance of public financial management has never been more apparent, particularly in the face of the COVID-19 pandemic. By providing a comprehensive and practical guide to financial management and accounting in the public sector, Gary Bandy's book contributes to the development of skilled and knowledgeable public sector managers who can drive positive change and deliver value for money to citizens.

Weight: 722g
Dimension: 240 x 164 x 27 (mm)
ISBN-13: 9781032168913
Edition number: 3 ed