Upon completion of the course, participants should be able to:

• Explain the basic concepts, definitions, and accounting principles in the integrated GFS framework.

• Classify basic government flows and stock positions according to GFSM 2014.

• Apply the general principles to classify an entity in the public sector and in relevant subsectors, such as the general government and public corporations.

• Record the fiscal flows and stocks associated with the activities of public sector entities, following the GFSM 2014 guidelines and classifications.

• Explain how the main GFS aggregates and analytical balances are calculated, and what they show about the government’s impact on the economy.

• Develop a migration plan to adopt the GFSM 2014 methodology, and compile and disseminate GFS following international guidelines.

• Recognize the value of comprehensive, consistent, and internationally comparable GFS, and the use of the key GFS indicators in the design, monitoring, and evaluation of fiscal policy.