Financial Management for NGO Professionals training centre in Bangladesh

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EMI EASY PAY

Financial Management for NGO Professionals

Introduction

NGOs operate their organizations with the noble objective of improving different vulnerable sectors of the planet. They operate without the purpose of earning profit while they are required to carefully manage their fund for smooth operation. Moreover, their funds are constituted by the donations of various philanthropic Government and non-Government organizations. Hence, NGOs remain accountable to the Donors on the spending of Partner’s funds. Nowadays, due to increased numbers of NGOs and constraint of Donor’s fund, it’s inevitable for NGOs to enhance internal efficiency in managing Donor’s fund. This will pave a way for them to prove competitiveness in getting their projects approved by Donors. External Auditor appointed by Donor sometimes carries out audit on the adequacy and effectiveness of Financial Management of the NGO. Hence, preparedness of the Organization is extremely critical to qualify Donor’s competency test.

Objective

Refreshing skill, confidence and competence to master the Financial Management techniques
An understanding as to how your Management approach impacts the interest of relevant stakeholders
The ability to focus clearly and concisely on critical financial control
Ensure transparency and minimize the threat of potential fraud, misappropriation
All members of the organizations work together to achieve common goal

Benefits

Delegate will develop expertise in the areas of:
Understanding and analyze the state of enterprise as exhibited in Financial Statements
Applying finance techniques in taking sustainable business decisions
Win-win negotiation with external and internal stakeholders
Relating the concepts with real life problem

Methodology

Interactive, Case Study, Group Exercise, comprehensive policies

Contents of Training:

Introduction of Financial Policies
Importance of the policies, scope etc.

Fundamental Concepts of Financial Management
Underlying assumptions, responsibility

Financial Records and Accounting
Basic books and records to be maintained (along with formats)

Chart of Accounts
How to prepare Chart of Accounts in line with the common accounting heads for an NGO

Overview of Financial Management and Accounting
Corporate Policies, Basis of Accounting, Internal Control etc.

Authorization of Payment
Approval process of payment, payment of payroll etc.

Internal Control
Internal control, safeguarding of Assets, procurement & payment

Delegation of Authority
Authority matrix

Procurement Polices
Total processes from assessment of need up to getting the product/service

Cash management and Control
DOs and DONTs in managing cash. Complete guideline to minimize risk

Bank Account Operation
Opening of a Bank Account, signatories, issuance of cheques

Advances and Its Adjustment Procedures
Purpose of advances, how to adjust including accounting transactions

Inventory Management
Controlling merchandize and non- merchandize inventory

Audit
Internal & External Audit, how to deal with them

Financial report
Reports to be generated for Management, Donors as well as NGO Bureau, familiarization with them

Direct & Indirect Tax
Meeting Basic requirements with VAT & Tax Law

Budget and Budget monitoring
Various steps of Budget Preparation and monitoring thereof

Compliance
Reports to be submitted with NGOAB

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Newly Recruited, Mid and senior level Finance Professionals, NGO professionals work for resource mobilizations, budgeting, auditing support.
Arrangement for Certificate, lunch and two tea-break would be made by the Organizer during the workshop.