Purpose
Every firm needs a strong finance department because it controls how much goods and services cost.
Proper financial operation leads to the proper and suitable use of resources to achieve the desired goals.
Non-financial managers must develop the necessary financial abilities because they also manage finances as part of their job duties.
The goal of this course is to better the non-financial managers’ ability to make financial decisions in the present, fast-paced corporate environment.
Course Objectives
By the end of the course, Participants will be able to:
- Analyze the sources of funding and their availability inside the organization.
- Recognize the institution’s financial information
- Budget planning, creation, execution, and management
- Understanding performance through financial statement analysis
- Adopt cash management strategies
- Determine how financial decisions affect an organization’s performance.
Duration: 5 Days
Target Audience
This program is intended for managers who do not have a background in finance or accounting but whose job requires them to make financial decisions.
Managers who wish to learn about financial processes will benefit greatly from taking this course.
Course content
TOPIC 1: Financial Management in NGOs: An Introduction
Financial management definition
The significance of money management
The role of finance
The project financial management life cycle
Best financial management practices
Standards and project management guidelines
TOPIC 2: Project Budgeting and Financial Planning
Financial planning procedure
Budgetary types and purposes for projects
Best practices for project budgeting strategies
Budgetary restrictions for donors
Budget alterations/changes
TOPIC 3: Cash Flow Control
Estimating future financial flows
Including cost budgets in the mix
Cashflow components
Gain versus money
Managing money
Controlling bank accounts
Payouts for joint projects should be documented.
TOPIC 4: Controlling costs
Decision-making utilizing cost information
Sorts of costs
Cost factors
Cost structures and methodologies
Procurement
The division of project expenses
Costs administration
TOPIC 5: Project Financial Reporting
Importance of financial reporting
Principles and objectives of financial accounting
Balance sheet, cash flow statements, and income statements are financial statements.
TOPIC 6: Financial Performance Measurement
Intro to financial analysis
Steps in financial analysis
Sources of financial analysis data
Monetary ratios
Keeping track of budgets
Keeping an eye on cash flow
TOPIC 7: Earned Value Administration
Overview of earned value analysis
Estimating earning value
Monitoring project performance through EVM analysis
Project value for money
ÂTopic 8: Internal Control Mechanisms
Audit’s purpose
Theft of money
Expenditure that has received multiple approvals
Project Financial Management Risk Control
Due diligence in grant handling