Financial Management for NGOs (FMNGO)
Overview
Why FMNGO?
Who is the course for?
Overview
This course provides an overview of the financial process within an organization through engaging and involving participants in hands-on training.
The course is designed around your organization and your objectives but would typically include the following topics. There will be a brainstorming session at the beginning of the training to ensure delivering the desired outcomes which may entail customizing the outline. Recommendations on any changes will then be submitted to the management in order to drive value-added training outcomes.
Why FMNGO?
- Focused on the critical skills you use in your organization.
- Respected Leading employers seek to hire and promote FMNGOs.
- Valued FMNGOs earn higher compensation than non-certified professionals.
Who is the course for?
- Candidates preparing for the FMNGO examination
- Finance and accounting professionals seeking to explore various career opportunities
- Accounting staff members preparing financial reports
- Fresh graduates with an interest in financial planning, analysis, and control
- All NGO executives and directors
- CLICK HERE for date of next course
- Type: Classroom
- Duration: 20 Hours
- Language: English and Arabic
Objectives:
By the end of the training participants will be able to:
- Understand the fundamental principles of finance to increase their planning, costing and budgeting skills
- Understand the financial terminology and basic concepts
- Handle dealings with the finance department at the organization
- Problem-solve and improve the analytical skills in constructing rational approaches
- Apply and evaluate financial information in a simulated case setting
- Increase the ability to participate in financial decision making
Topics:
a. Accounting principles
b. Introduction to accounting and bookkeeping
c. Basic financial reports
- Project accounting cycle, complying with project management methodology in the organization
- Fund accounting and donor management cycle
- Project accounting cycle, complying with project management methodology in the organization
- Statement of financial position accounts components
- Cash & cash equivalent accounts, preparing the bank reconciliations
- Contributions and grants receivables
- Other receivables
- Investments
- Inventories
- Fixed assets
- Intangible assets
- Accounts payable – short term
- Other payables
- Long term payables
- Loans accounting
- Reserves & restrictions
- Net assets: Temporarily restricted – unrestricted
- Statement of financial activities accounts components
- Unrestricted income
- Income from operations
- Other gains and losses
- Restricted income
- Cost of projects
- Expenses
- Net gain or loss, changes in net assets
- Cash flow statement
- Cost management – profit making segments
- Budgeting and financial forecasting
- Performance analysis and reporting
- Break even analysis
- Basic financial ratios for NGOs
- Accounting systems structure
- ERP systems
- MS Excel basic formulas for accounting and finance
- HR and payroll accounting
- Procurement process accounting
- Small production activities accounting
- Financial procedures development, and rules in finance
- Local tax law for NGOs