PUB4870 2025 ASSIGNMENT 5 2025 PUB4870 2025
DISCLAIMER
THE DOCUMENT PRESENTED IS A DEMOSTRATION ON HOW STUDENTS CAN
APPROACH THE ASSIGNMENT FOR PUB4870. IT IS BASED ON PRESCRIBED
MATERIAL AND EXTERNAL RESEARCH. THE DOCUMENT CONTAINS BOTH SHORT
NOTES AND A RESPONSE EXAMPLE FOR EACH QUESTION. STUDENTS ARE
THEREFORE ADVISED NOT TO COPY AND PASTE BUT USE THE DOCUMENT AS A
RESEARCH GUIDE THAT WOULD HELP THEM DRAFT THEIR OWN FINAL COPIES.
, PUB4870 2025 ASSIGNMENT 5 2025 PUB4870 2025
QUESTIONS
Section A: Financial Planning Perspectives
1.1 Discuss the significance of functional objectives, future planning, and
resource scarcity in public sector financial planning.
The process of financial planning within the public sector is a crucial functional activity
concerned with determining objectives and correctly associating them with
corresponding costs. This planning is necessary because formal institutions, including
those in the public sector, must manage their monetary value, scope, and objectives
effectively. The significance of this process is underscored by three essential
dimensions: the establishment of functional objectives, commitment to future planning,
and the constraints imposed by resource scarcity.
The first vital dimension is the establishment of functional objectives in financial
planning. Objectives must be geared toward achieving determined results that can be
physically ascertained, such as particular products or profits (Goldstein, 2023). This
concept emphasizes that planning must clearly identify the specific outcomes intended
to be achieved, ensuring that the process is purpose driven. The identification of non-
functional objectives is considered a complete waste of time in this context. Financial
planning is subsequently conducted strictly according to these established functional
objectives. For instance, although planning is typically oriented toward specific
outcomes, preliminary planning might be undertaken as a viability study to determine
whether a complex project or objective is even feasible before full financial
commitment is made.0717513144
The second critical dimension is the importance of future planning, as financial
planning inherently includes looking ahead (Gcabashe & Pillay, 2025). By necessity,
financial planning is directed toward the future because it seeks to identify the costs
linked to achievable outcomes over time. The timeframes for planning vary
significantly within formal public institutions, generally encompassing short, medium,
and long terms. Short-term planning typically spans one financial year (or book year),
which in the public sector context usually starts on April 1st and ends on March 31st
of the ensuing year. Medium-term planning covers a timeframe of three to five years.
This is necessary particularly for developmental or capital projects, or large-scale
ventures where the final objective cannot be realized in a single year, requiring the
DISCLAIMER
THE DOCUMENT PRESENTED IS A DEMOSTRATION ON HOW STUDENTS CAN
APPROACH THE ASSIGNMENT FOR PUB4870. IT IS BASED ON PRESCRIBED
MATERIAL AND EXTERNAL RESEARCH. THE DOCUMENT CONTAINS BOTH SHORT
NOTES AND A RESPONSE EXAMPLE FOR EACH QUESTION. STUDENTS ARE
THEREFORE ADVISED NOT TO COPY AND PASTE BUT USE THE DOCUMENT AS A
RESEARCH GUIDE THAT WOULD HELP THEM DRAFT THEIR OWN FINAL COPIES.
, PUB4870 2025 ASSIGNMENT 5 2025 PUB4870 2025
QUESTIONS
Section A: Financial Planning Perspectives
1.1 Discuss the significance of functional objectives, future planning, and
resource scarcity in public sector financial planning.
The process of financial planning within the public sector is a crucial functional activity
concerned with determining objectives and correctly associating them with
corresponding costs. This planning is necessary because formal institutions, including
those in the public sector, must manage their monetary value, scope, and objectives
effectively. The significance of this process is underscored by three essential
dimensions: the establishment of functional objectives, commitment to future planning,
and the constraints imposed by resource scarcity.
The first vital dimension is the establishment of functional objectives in financial
planning. Objectives must be geared toward achieving determined results that can be
physically ascertained, such as particular products or profits (Goldstein, 2023). This
concept emphasizes that planning must clearly identify the specific outcomes intended
to be achieved, ensuring that the process is purpose driven. The identification of non-
functional objectives is considered a complete waste of time in this context. Financial
planning is subsequently conducted strictly according to these established functional
objectives. For instance, although planning is typically oriented toward specific
outcomes, preliminary planning might be undertaken as a viability study to determine
whether a complex project or objective is even feasible before full financial
commitment is made.0717513144
The second critical dimension is the importance of future planning, as financial
planning inherently includes looking ahead (Gcabashe & Pillay, 2025). By necessity,
financial planning is directed toward the future because it seeks to identify the costs
linked to achievable outcomes over time. The timeframes for planning vary
significantly within formal public institutions, generally encompassing short, medium,
and long terms. Short-term planning typically spans one financial year (or book year),
which in the public sector context usually starts on April 1st and ends on March 31st
of the ensuing year. Medium-term planning covers a timeframe of three to five years.
This is necessary particularly for developmental or capital projects, or large-scale
ventures where the final objective cannot be realized in a single year, requiring the
