Training Course on Accountability in Financial Management for Nonprofits

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

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.
   

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:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request) 
   

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.
   

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