Financial Management

This course presents the strategies for managing funds as one of the major tasks of managers. The success of any school programme depends very much on the way the financial inputs are managed and this, in turn, affects the overall performance of organization. It discusses some of the basics of financial management and, in particular, the principles and practices of accounting, finances and sources of organizational funds as well as budgeting and how to draw up a plan for securing and expending the resources. Managers need to have some knowledge and experience of designing and managing a budget and how to mobilize financial resources. The course proposes a basic framework and mechanisms of financial management. The sixth part is about expending and accounting for funds. In the seventh part, we will analyze the objectives and types of accounts auditing and discuss the stages in the process involved and ideas on maintenance of tangible resources.

COURSE OBJECTIVES

The course has been designed to: 

• Ground students to the basics of financial management and the strategies for managing funds.
• Enable students adopt appropriate financial tools and techniques for managing projects
• Enable students understand the dynamics and principles involved in the use of donor systems
• Enable students understand how to appraise and choose between various prospective project investment opportunities using discounted cash-flow analysis
• Formulate project plans and budgets and understand their impact on project profitability and cash-flows

COURSE LEARNING OUTCOMES

By the end of the course unit students should be able to;

• Explain the concepts of financial resource management.
• Discuss the knowledge and skills of financial resource planning and control.
• Describe and apply the basic principles and practices of financial resource management and accounting.
• Describe skills of budgeting and budgetary control.
• Explain and apply the basic knowledge of projects and skills of projects management