Financial Management and Controls

This is a self-paced module designed to be completed in approximately 2 study hours. It will equip you with the knowledge and practical skills to understand, implement, and oversee essential financial management practices within grant-funded and development-focused organizations. By the end of this course, you will be able to apply financial control principles, manage project finances efficiently, promote transparency and accountability, and strengthen institutional capacity in fund utilization — ultimately improving credibility and trust with funding partners..

Before you begin the course, please take this assessment to gauge your readiness and current capabilities as you embark on the course.

Use this forum to introduce yourself to fellow participants. Share a bit about yourself, your institution, and your expectations for this course on Financial Management and Controls. Let us know if your organization currently has systems in place for financial controls, or if you’re exploring ways to enhance financial governance, compliance, and accountability. You’re welcome to discuss any strategies your institution is implementing to improve project finance, budgeting, or donor reporting. Finally, take a moment to connect with your peers — share words of encouragement, exchange insights, and build meaningful connections as we grow together in this learning journey.  

Learn the fundamentals of financial management and controls, including their purpose, core principles, and importance in strengthening financial transparency, accountability, and operational efficiency within grant-funded organizations.

Explore income and expenditure management processes, including how to record, classify, and track funds effectively. Learn to apply standardized procedures for handling donor income, allowable costs, and financial documentation for accurate reporting and compliance.

Gain essential skills in sub-grantee financial management, including accurate transaction recording, disbursement procedures, and compliance with grant conditions. Learn how to develop effective reporting frameworks and manage partner accounts through due diligence, monitoring, and risk assessment.  

Understand the structure and function of financial management systems, including general ledger management, budget coding, and accounts payable and receivable. Learn how to produce accurate financial reports, comply with donor requirements, and strengthen institutional accountability through reliable financial data.

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