Topic outline

• Select topic Welcome Note

  Welcome Note

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  1    Welcome to the Introduction to Bookkeeping and Financial Management Course.

       The majority of community leaders that I know are passionate about creating change in their communities and transforming lives and  livelihoods. However, many struggle with finance management due to a lack of adequate knowledge and practice on how to manage financial resources. Not to mention the varying donor requirements when it comes to financial reporting. 

  This course has therefore been designed for Community Based Organization Leaders with the aim of equipping them with foundational bookkeeping skills, and knowledge of finance principles. This ten-week program will be delivered through recorded and live lectures. We have also provided loads of materials/handouts to help you with additional reading. 

  Welcome on board and let us learn together!
  
  

  Your Facilitators

  Loise & Steve

  • Select activity Course Overview

    

    Course Overview Forum

    Course Overview

    Financial management is a key pillar in any organization, and bookkeeping plays a crucial role in it. Accurate bookkeeping provides a reliable way to measure performance and becomes a benchmark for income goals. It also empowers non-profits to make strategic decisions and ensures non-profit compliance.

    This course explores basic bookkeeping in depth while highlighting the importance of maintaining accurate records. It touches on budgeting, taxation, and financial planning and discusses how to prevent fraud in your non-profit. You will also learn about financial ratios and KPIs, how to manage donor funds and the best accounting software for your organization.

    The course will be delivered over a period of 11 weeks, with a maximum weekly engagement of 4 hours as follows: 90 minutes of live sessions and an additional 90 minutes review of materials. 

    
    

• Select topic Module 1: Understanding & Managing Donor Funds

  Module 1: Understanding & Managing Donor Funds

  Donor funds are the backbone and the key source of funds for most non-profits and community-based organisations. They facilitate the execution of programs and community projects as well as help organisations achieve their mission. 

  These funds require proper management to assure donors and any funding partner that the funds given are being used in the intended ways. 

  In this module, we shall seek to explore and understand the importance of proper donor fund management, including ethical considerations, risk management strategies, and successful fund management models.

  
  Understanding & Managing Donor Funds- Introduction Video
  
  

  
  

  • Select activity Understanding & Managing Donor Funds Handout Notes

    

    Understanding & Managing Donor Funds Handout Notes File PDF

    Not available unless: You must be enrolled into this course!
  • Select activity Donor Funds Managment Reflection 1

    

    Donor Funds Managment Reflection 1 Chat

    Not available unless: You must be enrolled into this course!
• Select topic Module 2: Basic Principles of Bookkeeping

  Module 2: Basic Principles of Bookkeeping

  Bookkeeping refers to organising and recording financial transactions, such as receipts, payments, and purchases. It also involves maintaining concise and clear financial records that make information easily accessible. 

  Besides being a legal requirement, bookkeeping is the backbone of any organisation’s financial health. By the end of this session, participants will be able to: 

  1. Understand the fundamental principles of bookkeeping
  2. Define key accounting principles/definitions
  3. Understand the process of recording financial transactions, reconciling accounts, and preparing financial statements.

  
  
  Basic Principles of Bookkeeping- Introduction Video
  
  

  
  

  • Select activity Basic Bookkeeping Notes

    

    Basic Bookkeeping Notes File PDF

    Not available unless: You must be enrolled into this course!
• Select topic Module 3: Tracking Income and Expenses

  Module 3: Tracking Income and Expenses

  Accurate records will enable you to evaluate the cost of your programming work, and performance and measure this versus the outcomes and impact. This session aims to help participants understand the importance of tracking income and expenses in organizations. In addition, we shall discuss the following: 
  

  • Common Financial Transactions
  • Fund Accounting and Revenue Categorization
  • Expense Categorization
  • Importance of Maintaining Accurate Records
  • Record-Keeping Process

  Tracking Income and Expenses- Introduction Video

  • Select activity Tracking Income & Expenses Notes

    

    Tracking Income & Expenses Notes File PDF

    Not available unless: You must be enrolled into this course!
• Select topic Module 4: Budgeting and Financial Planning

  Module 4: Budgeting and Financial Planning

  Budgeting is a key pillar of efficient financial management strategies. It allows your organisation to plan expenses and estimate income sources to ensure the effective implementation of your mission and the sustainability of the organisation.

  In this module, we shall :

  1. Explore the principles of budgeting
  2. Learn how to create a budget and forecast future financial needs
  3. Evaluate budget performance.

  Duration: 90 minutes

  
  

  Budgeting and Financial Planning-Introduction Video

  • Select activity Budgeting & Financial Planning Quiz

    

    Budgeting & Financial Planning Quiz

    Not available unless: You must be enrolled into this course!
• Select topic Module 5: Introduction to Financial Statements

  Module 5: Introduction to Financial Statements

  Generating financial statements is a vital step in bookkeeping. These statements consolidate details from the entries you record daily and offer valuable insights into your organisation's financial health and performance.  Financial records are also used to communicate how you utilise the donations and grants you receive. They can also be used to evaluate your history and governance structures when fundraising.

  In this module, we shall explore the following:

  1. Components of financial statements
  2. The accrual method of accounting
  3. The interrelation between financial statements

  Duration: 2 hours

  
  

  Financial Statements-Introduction Video

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  • Select activity Introduction to Financial Statements

    

    Introduction to Financial Statements File PDF

    Not available unless: You must be enrolled into this course!
  • Select activity Financial Statements Quiz

    

    Financial Statements Quiz

    Not available unless: You must be enrolled into this course!
• Select topic Module 6: Cash Flow Management & Sustainability

  Module 6: Cash Flow Management & Sustainability

  Cash flow management involves monitoring, analysing, and optimising the flow of cash in and out of an orgnaisation. It requires the organisation to have sufficient cash on hand to meet its financial obligations while also funding future growth.

  At the end of this module, participants will be able to:
  

  1. Understand the importance of cash flow management
  2. Interpret cash flow statements
  3. Identify strategies for improving cash flow,
  4. Recognize the relationship between cash flow management and sustainability.

  Duration: 90 minutes

  • Select activity CashFlow Managment & Sustainability Notes

    

    CashFlow Managment & Sustainability Notes File PDF

    Not available unless: You must be enrolled into this course!
  • Select activity CashFlow Managment Quiz

    

    CashFlow Managment Quiz

    Not available unless: You must be enrolled into this course!
• Select topic Module 7: Effective Financial Management- Financial Analysis and Reporting

  Module 7: Effective Financial Management- Financial Analysis and Reporting

  A non-profit's financial health depends on its ability to monitor and assess its financial performance through tracking key indicators. To do this, organisations must maintain accurate records such as balance sheets, expense, and revenue statements that are necessary when preparing financial statements. 

  Financial reporting means giving outsiders access to your organisation’s financial information and status. This is necessary when fundraising and during program reporting. 

  In this module, we shall be discussing effective financial management with a focus on looking at financial analysis and reporting. 

  
  

  Effective Financial Management- Financial Analysis and Reporting- Introduction Video

  • Select activity Module 7- Financial Analysis & Reporting Handout Notes

    

    Module 7- Financial Analysis & Reporting Handout Notes File

    Not available unless: You must be enrolled into this course!
• Select topic Module 8: Effective Financial Management- Internal Controls and Fraud Prevention

  Module 8: Effective Financial Management- Internal Controls and Fraud Prevention

  Internal controls refer to management practices that protect your non-profit’s integrity. These financial measures prevent asset misappropriation and misuse, such as embezzlement or theft as well as techniques used to safeguard assets,  ensure accuracy in financial reporting, and prevent fraud. 

  In this module, we shall discuss the significance of internal controls in organisations, and identify  the two categories of internal controls, which are detective and preventive. We shall also explore common internal control procedures, and fraud prevention strategies, and develop an awareness of the consequences of internal control failures.

  
  

  Internal Controls and Fraud Prevention- Introduction Video

  
  

  • Select activity Module 8: Internal Controls and Fraud Prevention Handout Notes

    

    Module 8: Internal Controls and Fraud Prevention Handout Notes File

    Not available unless: You must be enrolled into this course!
• Select topic Module 9: Tax Managment

  Module 9: Tax Managment

  Welcome to Module 9 where we shall be discussing Tax Management as per the Kenyan Laws. 

  In Kenya, The Kenya Revenue Authority also known as (KRA) is the sole organisation mandated by the Kenyan government to collect taxes. KRA has developed a self-service platform labelled eTims designed to help citizens, businesses and organisations file their tax returns.

  
  

  Every organisation, Non-Profit or not, is required to maintain proper accounts, adhere to monthly statutory deductions and most importantly, file their annual tax returns. 

  At the end of this session, you  will:  

  1. Gain a comprehensive understanding of relevant Kenyan tax regulations. This will include Providing an overview of key taxes in Kenya, including Value Added Tax (VAT), Pay As You Earn (PAYE), Withholding Tax, Corporate Income Tax, and Fringe Benefit Taxes.

  2. Learn how to navigate through the eTims system and how to file different taxes.

  3. We shall also discuss tax exemptions, who can access these exemptions and how to request them. 

  
  

  Tax Management -Introduction Video

  
  

  • Select activity Tax Management Handout Notes

    

    Tax Management Handout Notes File

    Not available unless: You must be enrolled into this course!
  • Select activity Tax Management Quiz

    

    Tax Management Quiz
• Select topic Module 10- Reflections

  Module 10- Reflections

  We have come to the end of this course and would like to take time to reflect on what you’ve learned and how you can apply this knowledge moving forward. Reflection is a crucial part of the learning process as it allows you to consolidate your knowledge, consider what worked well, and identify areas for further improvement. 

  We have also shared some additional resource materials to help you understand the type of financial Key Performance Indicators (KPIs), you can set for your organisation as well as common pitfalls to avoid that most not for profit organisations make. 
  

  • Select activity Course Reflections

    

    Course Reflections URL

    Not available unless: You must be enrolled into this course!
  • Select activity Module 10 Reflection-Handout Notes

    

    Module 10 Reflection-Handout Notes File

    Not available unless: You must be enrolled into this course!