What is pufmarp?

The introduction of Public Financial Management Reform Programme (PUFMARP) in 1996 was purposely to take care of procurement of goods, works and services in the country. Public Procurement is the process by which government purchases goods, works and services using public funds.

What is Bpems?

BPEMS, the core component of PUFMARP, is. aimed at reforming the budgeting. (preparation and implementation), accounting and financial reporting system, and to provide for a computerised platform to.

What is Gifmis Ghana?

Commission’s answer:The Ghana Integrated Financial Management Information System (GIFMIS) is a project for the improvement of Public Financial Management, in substantially decentralised management by the Controller and Accountant General’s Department of the Ghanaian Ministry of Finance.

What are PFM reforms?

The objective of the PFM Reform Strategy is to ensure a public finance system that is based on the principles of transparency, accountability, equity, fiscal discipline and efficiency in the management and use of public resources for improved service delivery and economic development.

What makes Gifmis important?

The GIFMIS is aimed at improving the acquisition, allocation, utilisation and conservation of public financial resources using automated and integrated, effective, efficient and economic information systems.

What are the challenges of Gifmis?

Finally, the study found that the challenges facing GIFMIS comprise legislative limitations, inadequate ICT infrastructure, low computer literacy rate in the Ghana Education Service and poor change management.

What are the benefits of using cash based budgeting?

Cash-based budgeting promotes better discipline and accountability in fiscal management and improves the government’s capacity in delivery of basic services (DBM 2018a). It responds well to the need for expenditure control and budget administration.

What are the components of Gifmis?

GIFMIS has three components which include the GIFMIS financial, GIFMIS budget module and the Human Resource Information System (HRMIS).

When was Gifmis introduced Ghana?

2009
In 2009, MoF launched the Ghana Integrated Financial Management Information System (GIFMIS) with the objective of improving budget comprehensiveness and transparency, consolidated cash management, monitoring and control of outstanding commitments, and payroll management.

What is the biggest advantage of cash based budgeting?

One of the biggest advantages of this system is that it is fairly simple to stick with. Once you take your cash out, you leave all of your debit cards and credit cards at home. Then, when you go out, the only way that you can pay for anything is with cash.

What are the advantages and disadvantages of budgeting?

Advantages & Disadvantages of Budgeting

• coordinates activities across departments.
• Budgets translate strategic plans into action.
• Budgets provide an excellent record of organizational activities.
• Budgets improve communicationwith employees.

Why cash budget is important?

A cash budget is very important, especially for smaller companies. It allows a company to establish the amount of credit that it can extend to customers without having problems with liquidity. A cash budget helps avoid a shortage of cash during periods in which a company encounters a high number of expenses.