Getting the Financial Management Basics Right

Learning Opportunities

Workshop

Getting the Financial Management Basics Right

March 12, 2018 - 8:00am to March 16, 2018 - 5:00pm

Nairobi , Kenya

Offering Organization: Mango

Language: English

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Overview

Financial management is the lifeblood of an organization. Everyone working to achieve an NGO’s objectives has an important role to play in ensuring effective and proper use of financial resources. However, basic financial management skills are often lacking and financial management too often gets side-lined during program implementation. This course is designed to strengthen the financial management skills and confidence of NGO staff to:

  • Integrate good financial management systems into operations management
  • Manage and control financial resources more efficiently and effectively.  

Who Should Attend

This course is primarily aimed at staff in small to medium-sized NGOs who are involved in program implementation and/or the management and control of financial resources. It is designed specifically for:

  • Non-financial officers and managers who want to improve practice in financial planning, control, and reporting
  • Finance officers interested in developing their financial management skills and knowledge to improve finance systems and support for program staff.

Previous financial management experience or training is not a requirement for this course. We recommend that you read this course outline carefully to make sure the content is relevant and meets your learning requirements. If you have any questions please do contact us. 

What You Will Learn

The final balance of course content will be decided by those attending the course, according to their interests and training needs. The core components of the course include:

  • The ‘what, why and who’ of financial management for NGOs
  • How to achieve good practice in financial management – key principles and frameworks
  • Building and using effective budgets – including project and donor budgets, and cash flow forecasts.
  • Which accounting records you should keep in your NGO – and why?
  • Budgeting and accounting for central support (‘core’) costs
  • Demystifying the Balance Sheet – how to make sense of annual financial statements
  • Monitoring and controlling budgets – preparing and using budget comparison reports
  • Reporting to donors – how to meet donors requirements
  • Safeguarding our assets – internal control systems and procedures
  • Managing the audit process 

Day 1

Welcome and overview

  • Introductions, expectations and program overview

Key principles and concepts of financial management

  • What is financial management?
  • Why is it important for NGOs?
  • Structure and governance of NGOs
  • Good practice systems: the building blocks of financial management
  • Mango's Finance Health Check
  • System-design techniques

Day 2

Financial planning

  • The Financial planning process
  • Cost structures
  • 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 – who needs 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
  • Evaluation
  • Certificates