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Many organizations face serious problems that block their
development process due to ineffective financial management at
organizational and project levels. It has often been reported
that organizations fail to continue in harmony with their
stakeholders due to lack of transparency in financial
operations, ineffective operational planning and an ineffective
interface between the operations and finance of the projects /
organizations.
This workshop has been specially designed to help such
organizations and development sector professionals in overcoming
their operational, planning and financial accounting needs.
Although the first step towards growth is the willingness and
commitment of the participants to bring change in their practice
towards more professional planning, it is necessary to have some
tools for facilitating this process. This workshop will provide
participants with a framework for making these changes possible.
Objective
The objective of the course is to take you through the basic
principles and techniques of organizational finance. Financial
management is a vital part of managing operations; but we do not
have to be financial experts or qualified accountants to
understand and use financial management tools. Financial
management is based on common sense ideas; indeed, it can even
be enjoyable and rewarding.
Content
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What is financial management and why is it
important for NGOs?
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Roles and responsibilities - financial
management as a team effort
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Which accounting records you should keep in your
NGO - and why
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Structuring the accounts - understanding the
power of the chart of accounts and project cost
centres
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Managing and accounting for core costs
(overheads) - identifying direct and indirect costs,
apportioning costs between projects
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Building and using effective budgets - including
project and organizational budgets; cash flow
forecasts and funding grids; foreign currency and
multi-year budgeting
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Monitoring and controlling budgets - preparing
and using budget comparison reports
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Reporting to donors - how to access the
information that donors require to meet obligations
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An overview of internal control - using common
sense precautions to safeguard the organization’s
assets and protect staff.
Learning activity
These are quick activities, usually when a
subject is first introduced, which ask you to draw
on your own experience to provide some instant ideas
on an issue. Alternatively, learning activities may
help you learn a particular skill. Learning
activities will vary in length but usually last no
more than 15 minutes.
Exercises
Unlike learning activities, exercises are usually
evaluated to see whether you have reached an
adequate level of skill. There are no tricks in the
exercises; they are simply aimed at seeing if you
have acquired the skills in the previous sections.
Case studies
Case studies are important, as they will
reinforce your learning by looking at real-life
problems and solutions.
Learning Outcome
When you have completed this course you will be able
to
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Keep accounts
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Design budgets
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Monitor budgets
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Put in place internal control mechanisms
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Manage cash flow
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Work more effectively and efficiently
with donors and finance staff
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Use financial management to create
strategies
Who should attend
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