Financial Management Training Workshop Course from 20th to 24th November 2017
Africa Institute for Project Management Studies (www.africadevelopmentresources.org) is an organization that was founded in 1999 as a capacity building expert and a development think tank that proposes solutions for development problems facing third world countries with a big capacity building portfolio in Africa.
We have delivered timely and professional capacity building services to a wide variety of organizations in the development sector. These include donor organizations, Government agencies, co-funding agencies, International and local NGOs, Government agencies and private sector firms. We have conducted successful consultancies for many organizations.
Overall Course Overview:
This is an interdisciplinary training course that places particular focus on Financial management, related jargons and knowledge in understanding financial management information and interpreting financial statements and ratios for decision making…
Financial information and is interpretation is important in all aspects of our lives. All users of financial information, from students, donors, financial advisors, investors, management, regulators and parties interested in the progress of an organization are keen to know how it performs over time and its financial position at any given time.
At the same time, financial management decisions are made in light of available financial information. Underneath all these information, it is crucial that one is able to make sense of presented information and in one way or another, analyze to understand if there is any important information that may have been left out either by omission or commission.
This course is designed for finance and finance project managers, NGO staff involved in programme planning, implementation and support. It gives the skills needed to set up strong finance systems and procedures, create project budgets, keep basic accounts, and prepare and read financial reports.
Programme officers and Finance managers who want to improve their skills in financial planning, control and reporting and government officers working in development projects.
At the end of the course participants will be able to:
o build project, donor and consolidated budgets using the activity-based budgeting technique
o prepare and use a simple cash flow forecast
o prepare and reconcile an analyzed cashbook
o analyze financial statements and budget monitoring reports to assess performance
o assess strengths and weaknesses in your NGO’s internal control systems
o describe the four building blocks and the seven principles of financial management and the role they play in achieving good practice in financial
o prepare and use simple financial monitoring reports
o describe the financial management roles and responsibilities of board members, managers, finance and programme staff
o explain the link between budgets, accounting records and financial reports
o recognize that financial management is for everyone
o appreciate the central role of financial management in achieving an NGO’s
o explain the importance of budgets in planning, control and decision-making
o explain the key components and language of a cash accounting system
o appreciate the importance of accountability and transparency in an NGO
Day 1. Introductions, expectations and course overview
• Key principles and concepts of financial management
• What is financial management?
• Why is it important for NGOs?
• Good practice systems: the building blocks of financial management
• Finance Health Check
• System-design techniques
Day 2. Financial planning
• The Financial planning process
• Cost Benefit Analysis
• Functions and types of budgets
• Practical approaches to building good budgets
• Cash flow forecasting
• Consolidated budgets and budgeting for core costs
Day 3. Accounting Records
• Which records should you keep?
• The accounting process: cash or accruals
• Practical accounting: completing the cashbook
• Bank reconciliation
• Procurement - steps, people and paperwork
Day 4. Financial monitoring
• Financial information – whoneeds what, when and why?
• Using financial statements
• Using budget monitoring reports
• Overview of donor reporting
Day 5. Internal control systems
• How to minimize theft and fraud
• The role of audit
• Internal control policies and procedures development
• Summary and close
• Summary of key messages
• Group discussions
• Individual and group tasks
• Case studies
• Role plays
• Action planning
• Experiential learning games
Venue: Meridian Hotel in Nairobi, Kenya
Date: 20th to 24th November 2017
The fees will cater for tuition, writing materials, lunch and tea break snacks and a certificate. Participants will be expected to take care of their travel expenses, accommodation and any other out of pocket expenses. Accommodation can be reserved on prior arrangement.
Mode of payment
Payment shall be made through electronic fund transfer to AIPMS bank account 5 days prior to the commencement of the course for effective planning.