TrainingS
Empower your organisation with our expert-led training and courses.
Non-governmental organisation executives strive every day to achieve outstanding missions, visions, and results in their respective fields. Yet, they must continuously seek funds to sustain their missions. In this endeavor, donors and stakeholders demand the highest levels of accountability, boards of directors require precise and meaningful financial management, and executives need high-quality financial information for accurate decision-making.
Course 1 - Financial Management for NGO
This course aims to gather NGO executives, with or without financial backgrounds, who wish to elevate their knowledge of non-profit sector finances.
The course is designed to be delivered both online and in-person over a span of two days. It integrates theoretical concepts with practical examples across all modules, ensuring a comprehensive and applicable learning experience.
1- Course modules
Introduction to NGOs’ financial management:
o Understand the importance and distinctions of NGO financial management compared to corporate finance.
o Learn how financial management integrates with all programmatic aspects of the organization.
o Recognize that finance should not be seen in isolation from other organizational activities.
Accounting for NGOs:
o Explore detailed accounting practices for NGOs.
o Learn how finance managers should maintain accounts, including types of income and expenses.
o Understand the timing for recognizing income and expenses.
Financial planning and budgeting:
o Discover why budgets are crucial for NGOs.
o Learn how to create and maintain budgets.
o Understand the importance of keeping budgets updated.
Recognition of income:
o Examine the International Accounting Standards regarding income.
o Understand the specific nuances of NGO income compared to corporate income.
o Engage with case studies and exercises to reinforce learning.
Foreign currency accounting treatment:
o Address the challenges of receiving funds in foreign currencies and the risks of exchange losses.
o Learn how exchange differences should be recognized in accounting.
o Understand how International Accounting Standard 21 treats foreign currency transactions.
o Discover strategies for NGOs to manage and cover exchange losses.
Financial reporting and audit:
o Gain a comprehensive understanding of the two main financial statements: Statement of Profit and Loss and Statement of Financial Position.
o Learn how these statements are prepared, how to interpret them, and how to extract relevant information for decision-making.
o Explore the importance of internal control systems in building strong, accountable organizations.
o Delve into the role of ethics and fraud prevention in creating an ethical working environment.
o Understand the audit process and its significance, as every organization will undergo an audit at some point.
2- Learning outcomes
These learning outcomes ensure that participants will have gained both the theoretical understanding and practical skills needed for effective financial management within the non- profit sector.
We are dedicated to offering five pro-bono courses annually. If your organization is interested, please complete this form and provide a compelling explanation of why we should select your organization for a complimentary course. We will respond within one week of receiving your application.
Differentiate NGO financial management from corporate finance:
Identify the unique aspects of financial management specific to NGOs and how it differs from corporate finance.
Create and maintain budgets:
Develop comprehensive budgets and maintain them, understanding their critical role in NGO operations and accountability.
Integrate financial management with organizational programs:
Demonstrate an understanding of how financial management is interconnected with programmatic activities within NGOs.
Apply accurate accounting practices:
Implement detailed accounting practices, including the proper recognition of various types of income and expenses according to International Accounting Standards.
Handle foreign currency transactions:
Manage foreign currency transactions effectively, recognize exchange differences, and apply International Accounting Standard 21 to mitigate financial risks.
Establish and evaluate internal control systems:
Develop and assess robust internal control systems to enhance organizational integrity and accountability.
Prepare and analyze financial statements:
Prepare key financial statements such as the Statement of Profit and Loss and the Statement of Financial Position, and analyze them for decision-making purposes.
Promote ethical practices and prevent fraud:
Foster an ethical working environment and implement strategies to prevent fraud and corruption within the NGO.
Navigate and prepare for audits:
Understand the audit process, prepare for audits, and ensure compliance and transparency throughout the organization.
Apply theoretical knowledge to real-world scenarios:
Utilize theoretical knowledge in practical scenarios through engagement with real case studies and exercises, demonstrating an ability to apply learned concepts to actual financial management situations in NGOs.
Enhance organizational capacity and independence:
Increase the NGOs’ capacity for independent operation and informed decision-making, thereby improving its ability to secure donor trust and funds.
Develop strong financial systems:
Build and maintain robust financial systems that increase the organization’s chances of being entrusted with donor funds.
3- Course fee
The course fee is EUR 569 per participant. For organizations enrolling multiple participants, a 30% discount is offered for the second participant, and a 50% discount is provided for the third participant and beyond. We are dedicated to offering five pro-bono courses annually. If your organization is interested, please complete this form and provide a compelling explanation of why we should select your organization for a complimentary course. We will respond within one week of receiving your application.