Understanding and application of financial concepts is becoming essential in the nonprofit sector, as donor agencies increasingly prefer organizations that have sound financial management systems in place. A Financial Management training was designed and conducted by our Capacity Institutionalization Project to strengthen the financial management skills of participants belonging to small-scale organizations in Pakistan. The training aimed to equip participants with methods, skills and techniques to help them utilize financial management tools with efficiency and effectiveness.
This 5-day training session welcomed participants from Civil Society Organizations (CSO) and NGO workers, particularly those belonging to small-scale organizations. The training catered to both financial and program personnel. It was a third training of its kind, held at Mirpurkhas Sindh from 9th to 13th of May, 2017. Twenty-seven participants from fifteen organizations, including 23 men and 4 women, took part in this activity based training.
Nazar Abbas Naqvi, financial management expert and a trainer with 18 years of relevant experience, facilitated the five day workshop. Mr. Naqvi has worked on international donor funded programmes, including USAID, DFID, Asian Development Bank, European Commission and the World Bank. He has delivered extensive capacity trainings on financial management to public sector staff, Civil Societies Organizations and NGOs across various regions of Pakistan and abroad. Nazakat Bibi, Education Specialist at Community World Service Asia and Nadia Riasat, Senior Program Officer co-facilitated the training with him.
The training imparted specific skills on the fundamentals of financial management, developing effective financial policies and internal controls and streamlining accounting systems as per organizational policies. It geared participants on preparing budgets, financial reports as per donor requirements, as well as facilitating audits to ensure transparency.
Through the various interactive sessions in the workshop, participants’ knowledge on the roles and responsibility of an organization’s board members, managers, finance and program team was also enhanced. The importance of budget in planning, control and decision-making was highlighted with key components and language of accounting system. Participants were made familiar with the concept of reconciliation and analysis of books of accounts. The link between budgets, accounting records, and financial reports were also explained in detail. A sample set of financial policy guidelines and procedures required for an operational NGO program were also shared with participants, which will help the participating organizations to strengthen their financial systems.
A session on resource mobilization was taken very well by the participants as it was a new topic for participants, both with financial and non-financial backgrounds. They were sensitized on mobilizing monetary resources. Some of the finance managers attending the training shared their interest in playing a more prominent role in resource mobilization. “It was an ambitious and knowledgeable workshop in which we learnt many things. On behalf of our organization, Orangi Charitable Trust (OCT), I would like to congratulate Community World Service Asia for the successful training from which all the participants benefited,” shared Qazi Raheem Bux Qureshi, a participant from Orangi Charitable trust (OCT).