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Internal Financial Controlling & Risk Management

Course Name : Internal Financial Controlling & Risk Management

Outline :

 Introduction:
This Internal Financial Controlling and Risks Management is designed for participants who are accountants and financial Managers, project manager, Administrative manager and program manager of NGOs, private companies as well as government ministries. Participants will learn financial management that allow them to apply 1)Introduction to Internal Financial controlling, 2) Budgetary controls, 3) Physical Controls, 4) Inventory Controls, 5) Authorization and Approval controls, 6) Accounting Controls, 7) Review Financial Management controls. Trainer will allow participants to learn each step through the entries process from budgeting to the final balance with various examples. Workshop will be conducted in Khmer with an introduction to relevant English terminology.
 
Course Objectives:
  After completing this training course, participants will be able to:
 1. Be able to gather and evaluate the financial information in accordance with the accepted accounting practice.
 2. Be able to find out the errors and irregularities of financial information in the entities.
 3. Know how to check financial control & financial statement.
 4. How to apply the process of internal financial controlling system.
 
Course Outlines
 
Introduction:
A. What is Internal Financial Control?
B. Surely adequate internal financial control would be too expensive to set up?
 Types of Internal Control:
 
A. Budgetary Control :
 1.Why prepare a Budget?
 2.How is the budget prepared? What information is required?
 3.When is a budget prepared?
 4.Who prepared the budget and should it balance?
  a)If there is a budget can there still is a deficit?
  b)How can a deficit be financed?
 5.The purpose of a Monthly Financial Report.
 6.Cash flow projections :
  a)What is the purpose of Cash Flow Projection?
  b)How are these reports prepared?
  c)If the report shows that the actual income or expenditure, or cash flow, is not the same as the agreed budgeted figures, what should management do?
 
B.Organization Controls:
 1.Understanding Organization Chart.
 2.Understanding duties & responsibilities of each position in finance department. 
 
C.Division of Duties :
 1.Should the records and process of completing a transaction be conducted by one person in a position?
 2.What would you do to reduce the risk of fraud and error?
 
D.Physical Controls : 
 1.Bank reconciliation.
 2.Cash count and reconciliation statement :
  a)How often should the reconciliation be prepared?
  b)What happens if there is a difference between cash in hand and the cash book?
c)Can the cashier make loans or salary advances from the petty cash, or accept IOU note in exchange for cash?
 3.Inventory
 4.Fixed assets
 
E.Authorization and Approval Controls :
 1.Have all transactions been properly approved? 
 2.A list of senior staff with the limits of their authority on approving cash expenditure.
 
F.Accounting Controls :
 1.On what basis (cash /accrual) is the process of bookkeeping? 
 2.Have all transactions been recorded up to date and properly according to generally accepted guidelines.
 
G.Personnel Controls :
 1.Have the staffs properly been invested in their positions?
 2.Have they been trained in accounting and/or financial field?
 
H.Supervision Controls :
 1.Is the preparation of a job description necessary for internal financial control?
 2.An example of a job description for the finance manager of a development organization.
 
I.Management Controls :
 Day to day & surprise financial controls by management.
Using the checklist to review Financial management controls :
A.Person responsible for the review.
B.Scope of the review.
C.Preparation before the review.
D.Completing the checklist.
E.Procedures after the review.

Who should attend:  Accountants and financial managers of NGOs, Companies, and government ministries......

Languages: Khmer language will be used by our professional trainers for the course with some technical English terms and handout is in Khmer and English.
Training Venue:  G-Mekong Hotel,Mondol Kiri, Tonle Basac, Training Studio in Phnom Penh
Training Timing:  8:00am till 5:00pm two full intensive days
Free: Handout in Khmer and English- Handout in both hard copy and soft copy - Lunch for two days - Snack all training time – Software Tools for the course- Certificate of Attendance - Coaching after the course, Soft PTT, Training report if needed
Registration: a- the first 5 participants will receive 5 % discount if prepayment and b-5% discount for former participants
To register, kindly send us the followings via email or SMS: (your name, Tel, company & position) to mr.somnarng@gmail.com or 092 220 316 / 016 623 934. The deadline of the registration is one day before the course.
Payment Method : Pre-payment or payment upon arrival is necessary.
The training courses are not listed in our schedule, please contact us for your specific needs to improve your organizational work performance.

price :

Local NGOInternational NGO
$190.00$220.00

Available date on schedule :

Hold on

Thur, Dec , 21 ,2017 - , Fri, Dec ,22, 2017

Contact :

Tel: (855) 92 220 316 / 23 6323714
Email: training@aldohr.org / somnarng@gmail.com / info@aldohr.org





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