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Training on Financial Management for USAID Funding

By: Devimpact Institute

Kenya

03 - 07 Jun, 2024  5 days

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USD 950

Venue: Nairobi, Kenya

Other Dates

Venue Date Fee  
Nairobi, Kenya , Kenya 01 - 05 Jul, 2024 USD950
Nairobi, Kenya , Kenya 12 - 16 Aug, 2024 USD950
Nairobi, Kenya , Kenya 09 - 13 Sep, 2024 USD950
Nairobi, Kenya , Kenya 07 - 11 Oct, 2024 USD950
Nairobi, Kenya , Kenya 04 - 08 Nov, 2024 USD950
Nairobi, Kenya , Kenya 18 - 22 Nov, 2024 USD950

Training 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.

Target Participants

Training on Financial Management for USAID Funding is ideal for anyone managing a USAID grant or cooperative; that is, Finance, compliance, and program staff who manage budgets and reconcile activity costs with program budgets.

Course Duration

Online     7 Days

Classroom-based       5 Days

What you will learn

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.

Course Outline

Overview of USAID Funding

  • Introduction to USAID, its regulations, and organizational set-up
  • Funding Framework
  • Working effectively with USAID
  • Best practices with Agreement Officer

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 and managing the audit
  • Corrective action plans

Training Approach

This training on financial management for USAID Funding course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, theory, group work, and case studies.

Training manuals and additional reference materials are provided to the participants.

Certification

Upon successful completion of this training on financial management for USAID Funding course, participants will be issued a certificate.

Tailor-Made Course

We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills, knowledge gaps, training expectations, and tailor-made needs.

Nairobi, Kenya Jun 03 - 07 Jun, 2024
Nairobi, Kenya , Kenya 01 - 05 Jul, 2024
Nairobi, Kenya , Kenya 12 - 16 Aug, 2024
Nairobi, Kenya , Kenya 09 - 13 Sep, 2024
Nairobi, Kenya , Kenya 07 - 11 Oct, 2024
Nairobi, Kenya , Kenya 04 - 08 Nov, 2024
Nairobi, Kenya , Kenya 18 - 22 Nov, 2024

Registration: 08:00:am - 04:00:am

USD 950.00 + 47.50 (VAT)(Classroom-based)
USD 600.00 + 30.00 (VAT)(Online)
(Convert Currency)

Devimpact Institute +254714349537

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