Training on Project Financial Management for Non-Financial Professionals
In any organization, the finance function plays a key role in developing business and determining service or product costs. Proper financial management assists the organization in effectively and efficiently utilizing its limited resources to achieve its objectives. Non-financial managers are also involved in managing finance for their business functions, hence the need for them to acquire the requisite financial skills.
This training on project financial management for non-Financial professionals aims to equip the non-financial managers with knowledge in core financial principles and improve their financial decision making in this ever changing business environment. This course will help managers understand how the decisions they make will affect the financial performance of their organization.
Target Participant
This training on project financial management for non-Financial professionals designed for managers who are not from the financial or accounting background but whose role involves financial decision making. This course is ideal for managers who want to acquire skills in financial processes.
What you will learn
By the end of the course you will be able to:
- Understand the sources and availability of finance for an organization
- Understand relevant financial information within the organization
- Plan, develop, implement and control budget
- Analyze financial statements to understand performance
- Implement cash management practices
- Comprehend the impact of various business decisions on the organization’s performance.
Course Duration
Online 7 Days
Classroom-based 5 Days
Introduction to Financial Management in NGOs
- What is financial management?
- Importance of financial management in projects
- The finance function and its relation with other business functions
- Project financial management cycle
- Good practice systems: the building blocks of financial management
- Key supporting policies and standards
Project Financial Planning and Project Budgeting
- The Financial planning process
- Functions and types of budgets in projects
- Practical approaches to building good project budgets
- Donor budget regulations/requirements
- Budget change/modifications
Cash Flow Management
- Cash flow forecasting
- Consolidated budgets and budgeting for core costs
- Elements of cash flow
- Cash Vs Profit
- Managing cash
- Bank Accounts management
- Project payments supporting documents
Cost Management
- Use of cost data in decision making
- Types of Costs
- Elements of Cost
- Cost Structures and Methods – Costing services and products
- Procurement
- Project cost allocations
- Admin cost allocations
Financial Reporting in Projects
- Importance of Financial Reporting
- Principles and Objectives of Financial Accounting
- Types of Accounts
- Financial Statements; Income Statement, Balance Sheet, Cash Flow Statement
Measuring Finance Performance
- Introduction to financial Analysis
- Steps in financial analysis
- Sources of data for financial analysis
- Financial ratios
- Budget monitoring
- Cash flow monitoring
Earned Value Management
- Introduction to Earned Value Analysis
- Earned Value Calculations
- Application of EVM analysis in project performance monitoring
- Value for Money in Projects
Internal Control Systems
- Organization financial management policies
- Role of audit
- Financial fraud
- Financial spending cross approvals
- Risk Management in Project Financial Management
- Due diligence in grants management
