Accounting Essentials

Training

eLearning

Accounting Essentials

April 30, 2018 to June 01, 2018

On-Demand

Offering Organization: Mango

Language: English

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Overview

This online course covers the basic elements of strong finance systems and procedures and the flow of financial information from a transaction through to a financial report, as well as taking a practical look at good purchasing practice. The course is run online over four weeks and is fully supported by expert trainers. All of your learning takes place through discussion forums so you can complete the weekly readings, individual tasks, and group activities at your own pace. The eWorkshop format is great for fitting training around work and home commitments, but you do need to make time every day to successfully complete the course. The coursework will take between 4 and 7 hours each week, depending on your pace of learning and previous knowledge. 

 

Who Should Attend

This course is suitable for NGO staff involved in programme planning, implementation and support, such as:

  • Programme staff and managers who want to improve their understanding and 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 programme staff.
  • Staff who are responsible for developing and delivering financial management capacity building sessions for smaller partners

This is an introductory-level course and no previous financial management experience or training is necessary.

 

What You Will Learn

You will discover:

  • the essential elements of strong financial management systems, including the finance manual
  • why it is important to keep accounting records, and which records we must keep
  • how the chart of accounts and cost centers are used to sort and organise financial transactions
  • two different methods for keeping accounts and the financial reports that can be produced
  • the elements of a good purchasing process
  • what impact foreign exchange variations might have
  • the meaning of lots of financial jargon!

 

Week 1

Introduction and overview of accounting

  • Getting started
  • Practical challenges
  • Four Building Blocks and Plan-Do-Review models
  • Accounting overview

Week 2

Systems design

  • Getting organized – policies and procedures
  • Coding structures
  • The books of account
  • Supporting documents
  • The 3Ps of Procurement
  • Practical assignment: Chart of accounts

Week 3

Practical accounting

  • Different accounting methods
  • Bank reconciliation
  • Accounting for 'working advances'
  • The impact of exchange rates
  • Practical assignment: The Cashbook

Week 4

Next steps

  • Turning financial data into reports
  • The finance manual
  • Review and knowledge check
  • Bonus tools and takeaways
  • Practical assignment: Financial report
  • Action plan and course review