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Financial Management

Code KD611
Module Status Elective
Facilitator Philip Byrne, PhD
Duration 25 Hours
Credits 5 credits

Module Aims

This module aims to develop participants’ financial management skills and competencies in order to be effective in financially managing international development aided projects.

Module Objectives

  • To critically explore the fundamental importance of all aspects of budget management in effectively managing donor funded projects
  • To analyse the key issues associated with the production and interpretation of periodic financial reports
  • To examine relevant internal controls required to protect donors funds
  • To critically examine the area of governance and risk associated with financial management of donor funded projects.

Module Learning Outcomes

At the end of this course participants:

  • will understand how the project budget is an integral component of the overall project and how, if the project is to become successful, the budget must link to the project’s outputs, objectives and aims. Participants will also understand the various headings and categories of the Budget.
  • will understand the need to be accountable, responsible and transparent with donors funds and to control expenditure.
  • will have an understanding of how to prepare key end of period financial reports and what the key informational requirements are for these reports.
  • will also have an understanding of the various ledgers and procedures that are used in order to record and track all types of financial accounting transactions.
  • will have a good understanding of the key double entry system that is involved in recording and tracking financial transactions.
  • will have developed their skills in identifying key internal controls in order to protect donor funds and ensure that there is proper accountability and transparency.
  • will recognise the need for good governance and effective risk management procedures for donor related projects.

Module Content

Budget Management

  • Linking Donor funded Project Budgets to Donor funded Project Plans
  • Format of Project Proposals and Project Budgets for donor funded projects
  • Key Budget Headings and Budget Categories
  • Budget control and variance analysis
  • Budget Control reports and key informational requirements particularly related to donor funded projects
  • Human factors and issues that need to be considered in relation to budget preparation and budget control

Financial Reporting

  • Identifying what financial accounting is concerned about
  • Identifying the key users of financial accounting information
  • Examining the key terminologies that are utilised in relevant financial accounting reports
  • Preparing the key financial accounting reports such as Income and Expenditure Accounts and Balance Sheet Account
  • Developing a best practice toolkit for interpreting an organisations financial reports in order to determine
  • Cash book analysis

Internal Control

  • Examining the key internal controls that are required in order to identify, prevent and detect error and fraud particularly for donor funded projects
  • Objectives of internal controls
  • Different types of internal controls
  • Relationship of internal audit and internal controls
  • Key people involved in developing effective internal controls

Risk Management/Governance

  • Developing and understanding of managing risk and ensuring good governance
  • Definition of risk management and corporate governance
  • Relationship between risk management and corporate governance and internal controls
  • Different types of risks
  • Different aspects of managing risks

Assessing and building a partners Financial Management Capacity

  • Rationale for assessing a partners needs
  • Key thinks to look for in assessing a partners needs
  • Financial Management Heath Check Toolkit
  • Top tips on warning signs of fraud in assessing a partner and building a partners financial management capacity


Details of assessment and up to date reading lists for this module will be made available to learners following enrolment.
Please note that this description is subject to change.

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