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Financial Management for USAID Funded Projects

By: Cynet East Africa Consultancy

Kenya

29 Jul - 02 Aug, 2024 5 days

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USD 1,050

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Venue: Mombasa

Other Dates

Venue	Date	Fee
Mombasa, Kenya	22 - 26 Jul, 2024	USD1050
Mombasa, Kenya	26 - 30 Aug, 2024	USD1050
Nairobi, Kenya	09 - 13 Sep, 2024	USD1050
Mombasa, Kenya	11 - 15 Nov, 2024	USD1050
Mombasa, Kenya	18 - 22 Nov, 2024	USD1050
Mombasa, Kenya	02 - 06 Dec, 2024	USD1050

The course on Financial Management for USAID Funding covers a wide range of guidelines for the financial management of USAID funding and it is intended to improve NGO staff members' capacity to efficiently administer their programs and uphold donor compliance. This training on financial management for USAID funding will assist individuals and organizations establish, implement, and maintain strong financial management systems to be eligible for USAID funding, reduce audit risk, and build successful collaboration across the organization.

PROGRAM OBJECTIVES

By the end of this course the participants will be able to:

•Identify the fundamentals of the accounting system needed to qualify for USAID financing

• Accurately compile and evaluate financial statements

•Prepare for and coordinate the audit procedure per financing regulations

•Create and maintain budgets that support the success of your programs

•Implement strategies for recovering indirect costs

MODULES

Module 1

1:1 Financial Management Fundamentals

•The Importance of Good Financial Management

• Elements of a Strong Financial Management System

1:2 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

Module 2

ï»¿2:1 Daily Transactions and Internal Controls

• Petty Cash

• Daily Entries

• Job Cost Accounting

2:2 Timekeeping Systems

• Personnel Activity Reports

• Payroll Journal

• Managing Time and Facilitating Collaboration

Module 3

ï»¿3:1 Managing Risk

• Preventive Controls

• System of Authorization

• Segregation of Duties

3:2 Document / File Systems

• Filling System Options

• Monthly Closings

Module 4

4:1 Budget Management

•Monthly "Budget vs. Actual" Reporting

•Quarterly "Budget vs. Actual" Reporting

•Budget Management Practices

•Pipeline Reporting

4:2 Indirect Costs/Rates and Shared Cost Allocation

• Overview

• Provisional and Final Indirect Rates

• Indirect Rate Calculation Methodologies

• Accounting System Requirements

• Shared Cost Allocation Methodologies

Module 5

ï»¿5:1 Financial Statements

•Purpose and Uses of Audited Financial Statements

5:2 Donor Audits

• Preparing for an Audit

• Areas of Audit Risk

• Supporting & Managing the Audit

• Corrective Action Plans

CERTIFICATION

Upon successful completion of the training, participants will be awarded Cynet East Africa Consultancy certificate.

N/B

Online training available at USD 710.

Training will be facilitated by Cynet East Africa Consultancy seasoned trainers.

Mombasa	Jul 29 - 02 Aug, 2024
Mombasa, Kenya	22 - 26 Jul, 2024
Mombasa, Kenya	26 - 30 Aug, 2024
Nairobi, Kenya	09 - 13 Sep, 2024
Mombasa, Kenya	11 - 15 Nov, 2024
Mombasa, Kenya	18 - 22 Nov, 2024
Mombasa, Kenya	02 - 06 Dec, 2024