Award in Fundamentals of Financial Management

This module provides an overview to the fundamental principles of accounts. It explains how these principles are applied in a holistic manner to create the basic accounting frameworks that are the basis of modern accounting systems. The module explains the composition of different financial reports  and their interpretation using tools such as ratio analysis and budgeting. The module provides an overview to the financial regulatory framework in Malta or Cyprus within which NGOs must operate. It concludes by providing real world examples of successful financial management by NGOs in Malta or Cyprus.

The 6 sessions included in the module are as follows:

1. Basic Principles of Accounting
2. Using Financial Statements
3. Using Ratio Analysis
4. Basic Principles of Budgeting
5. NGOs Financial Regulatory Framework
6. NGO Perspectives to Financial Management

Learning Outcomes

At the end of the module/unit the learner will have acquired the responsibility and autonomy to:

1. Collaborate in the implementation of accounting tasks and practices as per statutory requirements or review by internal and external auditors.
2. Collaborate in the development of proper financial and managerial accounting reports to support decision making in the organisation.
3. Carry out ratio analysis, budgeting, and variance analysis to better interpret and support standard accounting reports.
4. Collaborate on the development and implementation of accounting practices and proper reporting as per National provisions related to NGO Financial reporting in Malta or Cyprus.

ECTS Credits : 2

Duration : 2 Weeks

Assessment Methods:

• Assignment / Case-Study – 1 (Contributes towards 50% of the module)
• Forum Discussions – 2 (Contributes towards 30% of the module)
• Tutorial Participation – 2 tutorial sessions (Contributes towards 20% of the module)

Participants need to achieve an aggregate of 50% marks from the assessment activities to pass the individual modules. Pass marks (50% or above) in all 5 modules is mandatory for the successful completion of Award in NGO Management (10 ECTS) programme.