FINANCIAL MANAGEMENT

Rationale:
This course offers a practical insight into selection procedures, contractual and legal issues and negotiation techniques for hiring and supervising consultants and other providers of professional and technical services for public funded projects, or projects funded by multinational donors and financial institutions.

Learning Outcomes:
At the end of this course, participants will be able to:
•    Better administer the procurement process in the organization.
•    Agree on objectives, requirements, plans and specifications
•    Understand and apply quality standards both in negotiation and procurement of services
•    Evaluate the current procurement system and offer options to aid effective procurement.
Training Content:
•    Procurement of professional services: the range of different tender processes.
•    Hiring professional services, purchasing goods and works
•    Reviewing best practices, cost and value as a selecting factor
•    Pricing methods
•    Selection procedures, local and national preferred, supplier capacity
•    Building a supplier list, buyer-vendor contracts for long term engagement
•    Terms of reference, evaluation of proposals
•    Negotiation and communication skills
•    Outsourcing
•    Contract provisions, procurement of services, monitoring and supervision of consultants
•    Elements of legally enforceable contract, terms and conditions, interpreting legal provisions
Target Audience:
This course has been designed for personnel who manage procurement for their respective organizations, projects and multi-sector-agencies or departments. It is also ideal for project managers
Methodology:
Lectures, Discussions, Role play, case studies and practical exercises. Audio–visual aids such as multi-media and films will be used to reinforce learning. Experience will also be shared

Rationale:
This course aims at introducing strategic financial planning and its practical applications to senior management. Participants will be equipped on how to make strategic decisions and cooperate with accounting or financial experts in achieving organizational objectives.
Learning Outcomes:
At the end of the course, participants will be able to:
•    Appreciate the financial strategy issues that affect organizations
•    Understand the relevance of finance and accounting within the organization and to stakeholders
•    Make valid contributions to the process of forecasting and corporate planning
•    Demonstrate awareness of the financial choices available to organizations
•    Assess the financial risks that organizations face; in particular, credit, interest and foreign exchange risk; and to be able to adopt risk-hedging strategies that suit the risk profile of the organization
Training Content:
•    Strategic and business planning: Functions of corporate finance in departmental development
•    Interpretation of accounts and international accounting standards
•    Principles of corporate finance
•    Capital budgeting, discounted cash-flow valuation, risk analysis and standard techniques of financial analysis
•    Strategic profitability analysis
•    Modern capital markets and financial institutions: functions and regulations
•    Market and treasury versus accounting risk
•    Performance scorecards
•    Setting of performance goals and incentives
•    Mergers, take-overs, buy-outs
•    Sources of capital
Target Audience:
This course is for senior managers with the responsibility of tackling financial problems and making financial decisions in their organizations.
Methodology:
Lectures, Discussions, Role play, case studies and practical exercises. Audio–visual aids such as multi-media and films will be used to reinforce learning. Experience will also be shared.

Rationale:
Both financial and non-financial staff may be responsible for establishing and managing budgets. This course will help delegates to understand the full relevance of budgeting and how this can be effectively achieved by providing you with the right skills.
Learning Outcomes:
At the end of the course, participants will be able to:
•    Translate resource plans into financial budgets
•    Build and maintain a robust budgetary process
•    Interpret financial management information
•    Control and cut costs
•    Drive through sustainable improvements
Training Content:
•    Why organizations fail
•    The need for planning
•    Putting together the management plan
•    Driving plan performance through objectives and targets
•    Translating plans into budgets for implementation
•    Interpretation of financial management information
•    Understanding profit and loss accounts, balance sheets and cash flows
•    The power of comparisons and ration analysis
•    Interpretation of accounts and how to spot attempts at manipulation
•    Setting the framework for budgets and managing the budgeting process
•    Commissioning budgets and use of planning assumptions
•    Testing budget bids for realism and negotiating budgets
•    Tips to good budgeting
•    Controlling and cutting costs
•    Zero and incremental budgeting
Target Audience:
This course is designed for senior managers with significant financial decision making and resource responsibilities.
Methodology:
Lectures, Discussions, Role play, case studies and practical exercises. Audio–visual aids such as multi-media and films will be used to reinforce learning. Experience will also be shared.

Rationale:
This course is designed to equip participants with the ability to develop and improve the auditing function in their various organizations in order to maintain international audit standards.
Learning Outcomes:
At the end of the course, delegates will be able to:
•    Establish the principles and procedures to carry out audit functions
•    Understand the role of an internal auditor
•    Apply suitable audit software and computer systems to increase efficiency
•    Apply effective system based audits and develop control to minimize the eventuality of fraud
Training Content:
•    Reviewing internal audit standards against current practices
•    International statements of auditing practice and interpretation of accounts
•    Performance, quality and implementation standards
•    Audit management and systems
•    System strengths and business optimization
•    Risk management and optimized solutions
•    Evaluating and ranking of operational risk
•    Reinforcement of internal controls, monitoring quality standards
•    Methods of detecting and curbing fraud
•    Communications: preparation and presentation of audit reports
•    Foreign exchange operations
•    IT and internal audits, working in a paperless environment
Target Audience:
This course is good for internal auditors, heads of internal audit departments or units and senior managers who oversee the process of financial and accounting systems within their organizations.
Methodology:
Lectures, Discussions, Role play, case studies and practical exercises. Audio–visual aids such as multi-media and films will be used to reinforce learning. Experience will also be shared.

Rationale:
Current government reforms are directed towards effective management of Public Sector for the realization of development goals. Financial assets are some of the most important assets that have to be effectively harnessed for the attainment of these goals. Therefore, financial managers in the Public Sector have the responsibility to undertake financial analysis, advice on financial plans and guide government on investments, projects, funding, operational levels, expenditure control and other governmental activities. They are expected to manage these financial assets competently.
For financial managers and officers to perform these roles creditably, they must have appropriate skills and competences. This workshop aims at providing these competences.
Learning Outcomes:
At the end of the workshop, participants will be able to:
    prepare, analyze and interpret financial statements;
    develop financial plans for government;
    advise top government on management of funds; and
    manage financial  resources  effectively and exercise necessary control measures;

Training Content:
•    Financial Management and the Current Economic Environment
•    Budgeting  and Budgetary Control
•    Financial Management Policy: Formulation and Implementation
•    Cost Benefit Analysis
•    Financial programming for Policy Analysis
•    Gender -Based Budgeting
•    Project Financing and Sources of Fund
•    Due Process
•    Financial Statements, Analysis and Interpretation
•    Cash-flow Statement  Preparation and Reporting
•    Introduction to Medium – Term Expenditure Framework (MTEF)
•    Computer application in financial planning using MS-Excel

Methodology:
This will be mainly experiential learning.  Instructional techniques such as lecture method, role plays, case studies, demonstrations, facilitator-led discussions and practical exercises will be used to reinforce learning.  Audio visual aids will be used to support the learning experience.
Target Audience:
Finance Managers and those responsible for financial and managerial accounting duties in public sector organizations.

Rationale:
Financial records are produced in every area of financial management. If these
records are not well managed, the financial management function suffers. Accountants create records to provide evidences without which efficient management of funds is impossible. Financial records must be efficiently managed from creation until destruction or transfer to the archives or repository for permanent preservation.
This workshop is designed to improve the  participants  knowledge, skills and ability  required for the efficient management of financial records in the public sector, with a particular emphasis on records created by central and state government ministries, departments and agencies.
Learning Outcomes:
At the end of the workshop, participants will be able to:

• identify various forms of financial records and their uses;
• maintain a safe financial records system;
• sort, keep and  protect financial records;
• identify the stakeholders to financial records and their management and,
• apply appropriate computer software in managing financial records;

Training Content:
•    Principles of Record Management
•    Types and Uses of Financial Records
•    Financial Records Control Techniques
•    Vital Financial Records & Disaster Planning
•    Financial Records Monitoring and Compliance
•    Due Process in Financial Records Management
•    Financial Records Management and Socio-Economic Development
•    Computer Application in Financial Records Management
•    Corruption, Fraudulent Practices and Financial Records Management
•    Role of EFCC and ICPC in proper records management.

Methodology:
This will be mainly experiential learning.  Instructional techniques such as lecture method, role plays, case studies, demonstrations, facilitator-led discussions and practical exercises will be used to reinforce learning.  Audio visual aids will be used to support the learning experience.
Target Audience:
Accountants, Auditors, Accounting Officers, Audit Officers, Inventory Officers, etc. in the Federal and State public services between Levels 08 and 13 whose schedule revolves around generating and maintaining financial records, and those involved in ensuring the judicious applications of public funds.