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Regional Seminar in Financial Management
for the Nonprofit Organization
with emphasis on the NORAD and NPA requirements
CONTENTS
The Role and Nature of NGOs
- Nature of NGOs
- Rendering Services
Characteristics of Proper Financial System for NGO
- Providing Financial Reports
- Sustainability
- Transparency
The role and Nature of Accounting system
- Definition of Accounting
- Accounting as Information system
- Benefits of Accounting
- Definition of Budget, Funds, Line, restricted/ unrestricted funds, Investment/
- current funds
Fundamentals of Accounting System of NGO
Financial Vouchers
- Internal/ External documents, Payment, Receipt, other vouchers, employees
Financial Records
- General journal, Ledger, Sub-ledger, other records, shareholders
Financial Reports
- Trail Balance, Bank reconciliation ,Budget Performance, Asset list/ Registrar, Revenue and Expenditures account, Balance sheet, Cash flow statement, per iodized Budget,
Chart of Accounts
- Expenditures accounts, Revenue Accounts, accounts Receivable, Accounts Payable, Prepaid expenses, Accrued expenses
Administrative/ Financial Regulations
- Organizational chart, Job description, authority/ responsibility lines, hiring procedures, salary scale, promotions, retirements, employee benefits, procurement terms, payment/ checks signatures,
- chart of accounts, Budget components, revenue forecasting, expenditure estimating, pricing services, timing and kinds of financial reports, major sources of income, pricing services,
Recording Financial Transaction
- Accrual Basis vs. Cash Basis
- Double Entry Method
- Recording Transactions, Expenditures, Revenues, Assets acquesions, prepaid expenses, liabilities, asset disposable,
Financial Statements
Budget
- Budget document, Fund, Capital/ investment fund , Current fund, Restricted fund, Unrestricted funds, Deficit / fund/ budget deficit, Surplus / fund balance, Budget line, Reserve for Provident fund, Bank Provident fund, Servancy fund, Exchange Loss, Exchange Gain.
Traditional Statements
Balance sheet
Statement of activity
Statement of changes in financial position
Statement of cash flow statement
Statement of Functional Expenses
Statement of Budget Performance
Accounting for Donated Material and services
Donated material
Donated services
Administrative / Financial manual
- Internal control systems
- Imprest / Petty Cash System
- External Auditor Reports
- Audit
End
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