All assets must have a source of financing. For private sector financing the alternatives can include the use of equity through a new stock issuance or by utilizing undistributed profits, combined with the use of debt financing. Public sector entities are limited to using debt. This workshop gives an expanded explanation of the differences between these sources of financing in terms of definition, rationale for use, risk considerations and impact on the user’s wealth. Much attention will be placed on the theoretical underpinning of finance that provide guidance to decision makers’ regarding the use of debt, the extent of its use and its impact on risk and return. The types of debt instruments used will be fully addressed along with discussions highlighting the different characteristics of public sector vs. private sector debt.