Practical Financial Management for NGOs: Getting the Basics Right

Course

In Oxford

Price on request

Description

  • Type

    Course

  • Location

    Oxford

  • Duration

    5 Days

Suitable for: Non-finance managers and finance officers

Facilities

Location

Start date

Oxford (Oxfordshire)
Chester House, George Street, OX1 2AU

Start date

On request

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Course programme

Purpose

Financial management is the lifeblood of an organisation. 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 programme implementation.

The FM1 course is designed to strengthen the financial management skills and confidence of NGO staff to:

  • integrate good financial management systems into operations management; and
  • manage and control financial resources more efficiently and effectively.

Target Audience

This course is primarily aimed at staff in small to medium-sized NGOs who are involved in programme 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 programme staff.

Previous financial management experience or training is not a requirement for this course.

Course Content

The final balance of course content will be decided by those attending the course, according to their interests and training needs. See below for a Programme Guide. The core components will 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

Learning Outcomes

    At the end of the course, participants will be able to:

Do:

  • build project, donor and consolidated budgets using the activity-based budgeting technique;
  • prepare and use a simple cash flow forecast;
  • prepare and reconcile an analysed cashbook;
  • prepare and use a simple financial monitoring report;
  • analyse financial statements and budget monitoring reports to assess performance;

  • assess strengths and weaknesses in their NGO's internal control systems;

Know:

  • describe the four building blocks and the seven principles of financial management and the role they play in achieving good practice in financial management;
  • describe the financial management roles and responsibilities of board members, managers, finance and programme staff;
  • explain the importance of budgets in planning, control and decision-making;
  • explain the key components and language of a cash accounting system;
  • explain the link between budgets, accounting records and financial reports;

Feel:

  • recognise that financial management is for everyone;
  • appreciate the central role of financial management in achieving an NGO's objectives;
  • appreciate the importance of accountability and transparency in an NGO.

Training Approach

    The Mango training approach is highly practical, participatory and often fun! We focus on real issues and help participants to use the techniques covered, rather than just discuss them. We work especially hard to de-mystify financial concepts to overcome the fear of finance.

    Training is undertaken in small groups to meet the needs of individual participants. A variety of learning methods are employed to stimulate interest and meet the differing learning styles of participants - including illustrated presentations, group exercises and discussions, case studies and practical problem-solving activities.

    Courses are supported by extensive materials for participants to take away and apply after the course, including a detailed course manual. We also offer a free follow-up service by email or phone to all Mango trainees.


Practical Financial Management for NGOs: Getting the Basics Right

Price on request