Financial Management is one of the major aspects of any commercial activity. The process of financial management refers to the strategic planning, organizing, directing, and controlling of financial undertakings in an organization or an institute. Timely and precise financial data are indispensable for effective decision-making, as well as for corrective action by project management staff, to enhance the prospects of timely completion of deliverables within the planned project budget and scope. This short-term intensive training course will focus on the financial management of World Bank Funded Projects and provide the full in depth information regarding the World Bank documentation requirements, Financial Management Cycle, Planning, Budgeting & Reporting.
The course is an ideal suite for all professionals involved in the mid and top tier management level of World Bank funded projects. Including: Financial Managers and analysts, Finance officers and examiners, Project Management Staff, Budget Planners & Analysts, etc. In addition, the program will prove beneficial for those finance and accounting professionals and project management specialists, who are willing to work on World Bank Funded projects in the near future.
Upon the successful completion of this course, the attendees will have a deep understanding of every major aspect following the projects funded by World Bank Group. The delegates will be able to participate and fully comply with the donor requirements per se. The knowledge acquired will cover the following major areas:
- Financial Management Guidelines for World Bank Funded Projects
- Documentation Requirements for the Donor
- Planning, Budgeting and Reporting for World Bank Funded Projects
- Audit Process of World Bank Funded Projects
- The responsibilities of the borrower and the donor
- Legal Aspects in World Bank Funded Projects
- The Funding Structure and Strategies for World Bank Projects.
- World bank Project cycle and Project documentation
- World bank project financial Management Guidelines and borrower responsibilities
- Project Interim Financial Reporting and its Cycle
- Internal control
- Planning and budgeting
- Project Accounting system
- IFRS and its characteristics
- Annual Financial reporting
- Internal Audit control & Arrangements
- Skills on project Financial Management system
- Disbursement policies and procedures statement of Expenditure
- IFRS- Based disbursement
- Legal issues during loan duration
- Inventory, depreciation, capitalized interest
- Minority interests and consolidation
- Exceptional and material items
- A detailed review of the balance sheet including the explanation of all significant accounting terminology
- Understanding the fixed assets note
- Accounting goodwill – what is it?
- Liabilities, pension fund accounting
- Debt and other liabilities like debt
- Deferred tax, contingent liabilities
- Overview of the International Accounting Standards Board
- The implications of the IAS Initiative
- Review of new standards produced in the last five years
- Present and future values
- Perpetuities and annuities
- Introduction to project analysis
- Identifying the key risk areas
- The essential aspects of the management task
- The issue of spreadsheet risk
- Overview of the forecasting process.
The program methodology uses the mix of modern interactive learning techniques which include but are not limited to: presentations, group and individual exercises, practical tasks and assignments, field visits and case studies. The trainer will encourage the maximum involvement of the attendees in order to enhance the results and successful practical appliance of the material covered.
Program Dates: 09 – 12 March 2020
Registration Closes on: 31 January 2020
Program Fee: $2750
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