INTRODUCTION
This IRES course will help individuals and organizations develop, implement, and maintain effective financial management systems to be eligible for US Government funding, reduce audit risk, and build effective collaboration across the organization.
This highly participatory online program will offer you and your team the most comprehensive knowledge of the fundamentals of financial management of US Government funding, including budget management, maximizing cost recovery, and how to deal with donor audits and reviews.
DURATION
5 Days
WHO SHOULD ATTEND?
This course is designed for Finance, compliance, and program staff who manage budgets and reconcile activity costs with program budgets
IRES encourages both finance and program staff from within an organization to attend this workshop together.
Course Level:
COURSE OBJECTIVES
At the end of the course, participants will be able to:
- Identify accounting system basics required to be eligible for US Government funding
- Compile and assess accurate financial statements
- Prepare and manage the audit process according to funding guidelines
- Develop and manage budgets in support of programmatic success
- Apply methods for recovering indirect costs
COURSE OUTLINE
Introductions, expectations and program overview
Financial Management Fundamentals
- The Importance of Good Financial Management
- Elements of a Strong Financial Management System
Cost Proposals (Budgets) to Support Program Descriptions
- Budget Notes Development
- Budget Review – Comparing Budget and Program Description
- Relationship between Budget and Chart of Accounts
- Cost Share
Daily Transactions and Internal Controls
- Petty Cash
- Daily Entries
- Job Cost Accounting
Timekeeping Systems
- Personnel Activity Reports
- Payroll Journal
- Managing Time and Facilitating Collaboration
Managing Risk
- Preventive Controls
- System of Authorization
- Segregation of Duties
Document / File Systems
- Filling System Options
- Monthly Closings
Budget Management
- Monthly “Budget vs. Actual” Reporting
- Quarterly “Budget vs. Actual” Reporting
- Budget Management Practices
- Pipeline Reporting
Indirect Costs/Rates and Shared Cost Allocation
- Overview
- Provisional and Final Indirect Rates
- Indirect Rate Calculation Methodologies
- Accounting System Requirements
- Shared Cost Allocation Methodologies
Financial Statements
- Purpose and Uses of Audited Financial Statements
Donor Audits
- Preparing for an Audit
- Areas of Audit Risk
- Supporting & Managing the Audit
- Corrective Action Plans
Related Courses
Course Administration Details:
Methodology
These instructor-led training sessions are delivered using a blended learning approach and include presentations, guided practical exercises, web-based tutorials, and group work. Our facilitators are seasoned industry experts with years of experience as professionals and trainers in these fields. All facilitation and course materials are offered in English. Participants should be reasonably proficient in the language.
Accreditation
Upon successful completion of this training, participants will be issued an Indepth Research Institute (IRES) certificate certified by the National Industrial Training Authority (NITA).
Training Venue
The training will be held at IRES Training Centre. The course fee covers the course tuition, training materials, two break refreshments, and lunch. All participants will additionally cater to their travel expenses, visa application, insurance, and other personal expenses.
Accommodation and Airport Transfer
Accommodation and Airport Transfer are arranged upon request. For reservations contact the Training Officer.
- Email: [email protected]
- Phone: +254715 077 817
Tailor-Made
This training can also be customized to suit the needs of your institution upon request. You can have it delivered in our IRES Training Centre or at a convenient location. For further inquiries, please contact us on:
- Email: [email protected]
- Phone: +254715 077 817
Payment
Payment should be transferred to the IRES account through a bank on or before the start of the course. Send proof of payment to [email protected]
Click here to register for this course.
Register NowCustomized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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