This popular text provides a step-by-step guide on how to use financial management and budgeting tools in the public sector. Students as well as professionals will benefit from the book's practical, case-study approach, and plentiful examples and exercises.

This updated edition features new chapters on two urgent topics for many governments—debt capacity analysis and financial risk assessment. The text also includes a new appendix on Excel functions; a new, detailed glossary for easy identification and look up of key terms; updated examples and cases throughout the book; and larger page size for greater clarity of figures and tables.

“Among the textbooks I have used for teaching public financial management and budgeting, my MPA students found Shawn's book most accessible, readable, and valuable. The examples and the step-by-step explanations on the use of Excel spreadsheets in the book are extremely helpful for students without any prior experiences in budgeting and finance.” — Hua Xu, Auburn University-Montgomery (*)

“This book is a gem. One of its important strengths is that it enables the reader to understand financial statements, which empowers them to use this information to make vital decisions for their organizations. No manager in government can be competent without this ability, and I know of no better source for learning it than Wang's book.” — John R. Bartle, University of Nebraska at Omaha

“My students found the first edition of Professor Wang's book an inviting and valuable addition to their professional understanding of public financial management, and I am pleased that the new edition continues in that tradition. I am sold on this book!” — W. Bartley Hildreth, Georgia State University

“Wang's chapter on Financial Risk Assessment was helpful in providing some of the tools needed to help understand and manage financial risk. I appreciate how easy to understand the chapter was. Over the course of this semester I have found the chapters written by Wang to be some of the most helpful in understanding the concepts and providing the tools. They have served as a great resource and I will continue to use them as a reference in the future.” — Jessica G. Jones, MPA Student, University of Nebraska at Omaha

“This book will serve as an excellent text in public budgeting and financial management courses that focus on political processes, budgetary theories, historical development, and substantive public policies. The author's pedagogical approach manifests an effective way to bridge theory and practice and enhance learning. Wang demystifies the nature of and clarifies the application of many of the financial management tools that I had employed during my time in a budget office.” — Jerry Gianakis, Suffolk University (on the previous edition)