Course Description
This comprehensive training course delves into the critical aspects of financial accountability tailored specifically for the unique environment of non-profit organizations. It emphasizes the importance of transparency, integrity, and sound financial practices in building trust with stakeholders, ensuring compliance, and achieving organizational missions effectively. Participants will gain a robust understanding of the principles and practices required to manage nonprofit finances responsibly and ethically, safeguarding assets and enhancing organizational reputation.
The course covers a wide range of essential topics, beginning with foundational concepts of nonprofit accounting and accountability, moving through legal and ethical frameworks, budgeting, internal controls, and financial reporting. It further explores specialized areas such as grant management, audit processes, tax compliance, board governance in financial oversight, and the application of technology in financial management. Each module is designed to build upon the previous one, providing a holistic view of financial stewardship in the nonprofit sector.
Course Objectives
Upon the successful completion of this Training Course on Accountability in Financial Management for Nonprofits, participants will be able to:
ü Understand the core principles of financial accountability in the nonprofit context.
ü Navigate the legal and ethical landscape governing nonprofit finances.
ü Develop and manage effective budgets aligned with organizational goals.
ü Implement robust internal controls to safeguard assets and prevent fraud.
ü Prepare, interpret, and present accurate financial reports to stakeholders.
ü Manage grant funds effectively and meet donor reporting requirements.
ü Prepare for and manage the external audit process efficiently.
ü Ensure compliance with relevant tax regulations and filing requirements.
ü Understand the role of the board in financial oversight.
ü Leverage technology to improve financial management efficiency and reporting.
Training Methodology
The course is designed to be highly interactive, challenging and stimulating. It will be an instructor led training and will be delivered using a blended learning approach comprising of presentations, discussions, guided sessions of practical exercise, case study review, web-based tutorials, group work, exploration of relevant issues collaborative strength training, performance measurement, and workshops of participants’ displays, all of which adhere to the highest standards of training. The training technique is built on learning by doing, with lecturers using a learner-centered approach to engage participants and provide tasks that allow them to apply what they’ve learned. Experiential knowledge is also given equal importance within the format of training. Our facilitators are seasoned industry professionals with years of expertise in their chosen fields. All facilitation and course materials will be offered in English.
Who Should Attend?
This Training Course on Accountability in Financial Management for Nonprofits would be suitable for, but not limited to:
ü Executive Directors and CEOs of Nonprofits
ü Finance Managers and Officers
ü Program Managers with budget responsibilities
ü Accountants and Bookkeepers working for Nonprofits
ü Board Members, especially those on Finance or Audit Committees
ü Development Directors and Grant Managers
ü Internal Auditors for Nonprofits
ü Anyone seeking to enhance their understanding of nonprofit financial accountability
Personal Benefits
ü Enhanced skills and knowledge in nonprofit financial management.
ü Increased confidence in handling financial responsibilities.
ü Improved ability to contribute to organizational financial health and sustainability.
ü Greater understanding of compliance and ethical considerations.
ü Enhanced career prospects within the nonprofit sector.
Organizational Benefits
ü Improved financial transparency and accountability.
ü Strengthened internal controls and reduced risk of fraud or mismanagement.
ü Enhanced donor trust and confidence.
ü Improved compliance with legal and regulatory requirements.
ü More effective resource allocation and financial planning.
ü Stronger governance and financial oversight.
Course Duration: 5 Days
Training Fee: USD 1,300
Course Outline:
Module 1: Foundations of Nonprofit Financial Accountability
ü Understanding Accountability in the Nonprofit Sector
ü Unique Financial Characteristics of Nonprofits
ü Key Stakeholders and Their Expectations
ü The Role of Financial Management in Mission Achievement
ü Practical Session: Analyzing Case Studies of Accountability Successes and Failures
Module 2: Legal, Ethical, and Regulatory Frameworks
ü Overview of Relevant Laws and Regulations
ü Ethical Considerations and Codes of Conduct in Finance
ü Understanding Fiduciary Responsibilities
ü Developing and Implementing Financial Policies (e.g., Conflict of Interest)
ü Practical Session: Workshop on Drafting Key Financial Policies
Module 3: Strategic Budgeting and Financial Planning
ü The Budgeting Cycle in Nonprofits
ü Types of Budgets: Operational, Program, Capital
ü Linking Budgets to Strategic Plans and Program Goals
ü Forecasting, Monitoring, and Variance Analysis
ü Practical Session: Developing a Program Budget Template
Module 4: Internal Controls, Risk Management, and Fraud Prevention
ü Importance and Components of Internal Controls
ü Designing Effective Control Activities (Segregation of Duties, Approvals)
ü Cash Management and Controls
ü Identifying and Mitigating Financial Risks, Including Fraud
ü Practical Session: Designing an Internal Control Checklist for a Key Process (e.g., Disbursements)
Module 5: Nonprofit Accounting and Financial Reporting
ü Accrual vs. Cash Basis Accounting
ü Key Financial Statements: Statement of Financial Position, Activities, Cash Flows, Functional Expenses
ü Understanding Fund Accounting (Restricted vs. Unrestricted Net Assets)
ü Key Performance Indicators (KPIs) and Ratio Analysis
ü Practical Session: Interpreting Sample Nonprofit Financial Statements
Module 6: Grant Management and Donor Reporting Compliance
ü The Grant Lifecycle: From Proposal Budget to Final Report
ü Tracking Restricted Funds and Grant Expenditures
ü Understanding Donor Requirements and Compliance
ü Preparing Financial Reports for Grantors
ü Practical Session: Drafting Elements of a Grant Financial Report
Module 7: Navigating the Nonprofit Audit Process
ü Understanding the Purpose and Types of Audits
ü Selecting and Working with an External Auditor
ü Preparing for the Audit: Schedules and Documentation
ü Understanding the Audit Report and Management Letter
ü Practical Session: Role-Playing Key Audit Interactions (e.g., Entrance/Exit Conference)
Module 8: Tax Compliance and Reporting for Nonprofits
ü Maintaining Tax-Exempt Status
ü Overview of Key Tax Forms (e.g., IRS Form 990 concepts)
ü Understanding Unrelated Business Income Tax (UBIT)
ü State and Local Filing Requirements
ü Practical Session: Reviewing Key Sections of a Standard Annual Information Return
Module 9: Role of Governance and Board Financial Oversight
ü Board Responsibilities vs. Management Responsibilities in Finance
ü Structure and Role of the Finance/Audit Committee
ü Essential Financial Policies for Board Review and Approval
ü Effective Financial Reporting to the Board (Dashboards)
ü Practical Session: Developing a Financial Dashboard Template for Board Reporting
Module 10: Leveraging Technology for Financial Management
ü Overview of Accounting Software Options for Nonprofits
ü Utilizing Software for Budgeting, Reporting, and Grant Tracking
ü Cloud Computing: Benefits and Security Considerations
ü Automating Financial Processes
ü Practical Session: Demonstration and Discussion of Useful Features in Nonprofit Accounting Software
Requirements
ü Participants should be reasonably proficient in English.
ü Applicants must live up to Armstrong Global Institute admission criteria.
Terms and Conditions
Booking for Training
Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.
Or call us on +254720272325 / +254725012095 / +254724452588
Payment Options
We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:
Cancellation Policy
Tailor Made Courses
This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com
Accommodation and Airport Transfer
Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588
| Course Dates | Venue | Fees | Enroll |
|---|
Armstrong Global Institute
Typically replies in minutes