Getting the Financial Management Basics Right
All NGO staff have an important role to play in ensuring effective and proper use of financial resources during program implementation.
During this five-day course, you will learn the key principles of good financial management and how to apply them in your workplace.
Designed in a highly participatory style, this course will build your skills and confidence in how to:
- integrate good financial management systems into operations management
- manage and control financial resources more efficiently and effectively.
During the course participants will gain the knowledge and skills needed for the FMD Pro 1 certification examination.
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 managers and officers who want to improve practice in financial planning, control and reporting, and
- 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.
What You Will Learn
By the end of the course, you will be able to:
- Describe key tools and concepts which help an organization achieve good practice in financial management
- Build and use effective budgets, including project and donor budgets and cash flow forecasts
- Explain which accounting records we need to keep and why
- Describe the key processes and methods used to keep accounting records
- Use financial reports to monitor project performance and identify actions to keep project finances on track
- Explain how internal controls protect NGO assets and minimize the risk and impact of fraud and errors
- Assess the strengths and weaknesses of your NGO’s financial management system
Our training puts the learner at the center, using practical and fun learning activities supported by easy-to-use materials. We share tools and techniques that can be immediately used in your work.
Welcome and Overview
- Introductions, expectations and program overview
Key concepts of financial management
- What is financial management and why is it important for NGOs?
- Structure and governance of NGOs
- Good practice frameworks: Seven principles and four building blocks of financial management
- Financial management systems: the health check approach
- Financial management systems: key organizing tools
- Financial planning process
- Types of budgets and their function
- Practical approaches to building good budgets
- onor budgets and budget narratives
- Consolidated budgets and core costs
- Cash flow forecasting
- Which records should you keep?
- Practical accounting basics: advances, cash book and petty cash
- The accounting process: cash or accruals
- Producing simple financial reports
- Procurement: process, people and paperwork
- Financial information: who needs what, when and why?
- Understanding financial statements
- Using budget monitoring reports
- Taking action to keep things on track: variances, out of date budgets and exchange rates
- Overview of donor reporting
- The four internal control actions
- The role of audit
- Fighting fraud, bribery and corruption
Summary and close
- Action planning
FMD Pro Level 1