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PSM825Management Sciences3 Unitsintermediate

Financial Management In Government

This course introduces students to the principles and practices of financial management within the government sector. It covers the Nigerian financial system, capital market operations, and various sources of finance. Students will learn investment appraisal techniques, working capital management, and budgetary control. The course also explores variance analysis and cost-volume profit analysis, equipping students with the skills to manage government finances efficiently and ethically.

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150h
Study Time
13
Weeks
12h
Per Week
intermediate
Math Level
Course Keywords
Financial ManagementPublic SectorBudgetingInvestment AppraisalWorking Capital

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📊
Math Level
Moderate Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Financial Management

2

Nigerian Financial System

3

Capital Market Operations

4

Investment Appraisal

5

Working Capital Management

6

Budgeting and Budgetary Control

7

Variance Analysis

8

Cost-Volume Profit Analysis

9

Public Sector Financial Management

Total Topics9 topics

Ready to Start

No specific requirements needed

This course is designed to be accessible to all students. You can start immediately without any prior knowledge or specific preparation.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Financial Analyst

Apply your skills in this growing field

Budget Analyst

Apply your skills in this growing field

Public Sector Accountant

Apply your skills in this growing field

Financial Manager

Apply your skills in this growing field

Auditor

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

Government AgenciesPublic Sector OrganizationsNon-Profit OrganizationsFinancial InstitutionsConsulting Firms

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1:

4h

Unit 1: The meaning and nature of Financial Management

4 study hours
  • •Read the unit introduction to understand the scope of financial management.
  • •Define financial management and its importance in government.
  • •Discuss the functions of financial managers and their roles in resource allocation.
  • •Explain the agency problem and its implications for financial decision-making.
Week
2

Module 1:

4h

Unit 2: Evolution and Development of Nigerian Financial System

4 study hours
  • •Trace the evolution of the financial system from barter to modern finance.
  • •Describe the colonial and post-colonial phases of the Nigerian financial system.
  • •Discuss key legislations that shaped the Nigerian financial system.
  • •Analyze the impact of government intervention and deregulation on the financial sector.
Week
3

Module 1:

4h

Unit 3: Regulatory and structure of Nigerian Financial System

4 study hours
  • •Identify and explain the roles of regulatory authorities such as CBN, NDIC, and SEC.
  • •Describe the structure of the Nigerian financial system, including banks and non-bank institutions.
  • •Discuss the functions of the Federal Ministry of Finance and the National Insurance Commission.
  • •Differentiate between the money market and the capital market.
Week
4

Module 1:

8h

Units 4: THE DEVELOPMENT OF NIGERIA CAPITAL MARKET

4 study hours
  • •Trace the evolution of the Nigerian capital market and its role in mobilizing long-term funds.
  • •Examine the characteristics of the capital market, including instruments traded and users of funds.
  • •Discuss factors influencing activities in the capital market, such as government stock holdings.
  • •Explain the opportunities available to investors through participation in the capital market.

Units 5: THE CAPITAL MARKET OPERATIONS

4 study hours
  • •Examine the functions of the Nigerian capital market, including financial intermediation and valuation of securities.
  • •Discuss the roles and benefits of the Central Securities Clearing System (CSCS).
  • •Examine the techniques of going public, such as offer by prospectus and offer for sale.
  • •Understand the benefits of the Central Securities Clearing System
Week
5

Module 2:

4h

Unit 1: SOURCES OF FINANCE

4 study hours
  • •Explain the various sources of finance, including short-term, medium-term, and long-term sources.
  • •Examine the factors to consider before granting bank borrowing.
  • •Discuss the various ways of raising ordinary shares, such as public subscription and rights issue.
  • •Understand the techniques of conversion
Week
6

Module 2:

4h

UNIT 2: RIGHTS ISSUE

4 study hours
  • •Explain the meaning of rights issue and its purpose.
  • •Discuss the factors to be considered when setting the price of a rights issue.
  • •Understand the options available to shareholders when a rights issue is made.
  • •Work through examples of theoretical rights issues.
Week
7

Module 3:

4h

Unit 1: TRADITIONAL METHODS OF INVESTMENT APPRAISAL

4 study hours
  • •Explain the meaning of payback period and its advantages and disadvantages.
  • •Calculate payback period for different investment projects.
  • •Understand the concept of average return on investment (ARR).
  • •Calculate ARR for different investment projects.
Week
8

Module 3:

4h

Unit 2: SCIENTIFIC METHODS OF INVESTMENT APPRAISAL

4 study hours
  • •Explain the investment appraisal method.
  • •Understand the problems associated with Net Present Value Method
  • •Understand the concept of Time Value of Money
  • •Calculate the Net Present Value of a project
Week
9

Module 3:

4h

Unit 3: INVESTMENT DECISION UNDER CONDITION OF UNCERTAINTY

4 study hours
  • •Define risks in investment decision
  • •Understand the meaning and nature of Expected Net Present Value/Expected Value Method
  • •Explain sensitivity analysis
  • •Understand the methods used under Risk and Uncertainty
Week
10

Module 3:

4h

UNIT 4: LEASING

4 study hours
  • •Understand the meaning and types of leasing agreement
  • •Know the merits and demerits of Leasing
  • •Understand the process in Lease Finance Calculations
  • •Explain the major types of leasing agreement
Week
11

Module 4:

8h

Unit 1: COST OF CAPITAL

4 study hours
  • •Understand the meaning of cost of capital and its usefulness
  • •Examine the opportunity Cost of Capital
  • •Understand the major usefulness of cost of capital
  • •Explain the meaning and various types of cost

UNIT 2: WEIGHTED AVERAGE COST OF CAPITAL

4 study hours
  • •Examine the importance of Weighted Average Cost of Capital
  • •Understand the short Comings of Weighted Average Cost of Capital
  • •Discuss the short-comings of Weighted Average Cost of Capital
  • •Explain the importance of Weighted Average Cost of capital
Week
12

Module 4:

8h

UNIT 3: WORKING CAPITAL MANAGEMENT

4 study hours
  • •Understand factors affecting working capital
  • •Financing Working Capital
  • •Explain the working capital concepts
  • •Explain the major factors affecting working capital

UNIT 4: MANAGEMENT OF WORKING CAPITAL COMPONENTS

4 study hours
  • •Management of Working Capital Components
  • •Factors Influencing Credit Control Policy
  • •Explain the management of working capital components
  • •Explain the factors Influencing Credit Control Policy
Week
13

Module 4:

8h

UNIT 5: MEANING AND NATURE OF BUDGET

4 study hours
  • •Discuss the meaning and various types of budget
  • •Examine the purpose of budget in an organisation
  • •Explain various types of budget you know
  • •Explain the importance of budgeting in an organisation

UNIT 6: BUDGETARY CONTROL IN THE ORGANISATIONS

4 study hours
  • •Understand the meaning of control and its various types
  • •Examine budgetary control methods
  • •Explain the meaning of control and its various types
  • •Explain the concept "Control"

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Review all key definitions and concepts from each unit.

2

Practice solving numerical problems related to investment appraisal and working capital management.

3

Create summaries of the main points in each module to aid retention.

4

Focus on understanding the differences between various budgeting techniques.

5

Review past examination papers to familiarize yourself with the question format.

6

Allocate sufficient time to practice variance analysis calculations.

7

Create concept maps linking Units 3-5 investment concepts.

8

Practice Cost-Volume-Profit analysis from Units 7-9 weekly.

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