What is FMD Pro?
If development organizations are to thrive, managers need to develop the knowledge
and confidence to make full use of financial management tools. This program offers five
eLearning modules on basic financial management skills These courses are designed to help
managers make effective use of resources and gain the respect and confidence to prepare
for long-term financial sustainability.
You can download the course syllabus here.
Each module provides interactive content that works seamlessly on all devices (computers, tablets and mobile phones), providing customized lessons with learning logs and interactive blogs.
The e-learning modules are designed for project team members who are not finance specialists, or for for anyone who is new to finance and work in the development, humanitarian, and conservation sector. They have been developed to support a self-directed learner. This course series will also benefit those working at an administrative level in offering a basis for financial management.
We recommend 5.5 hours to complete the program. Each module will take approximately 1 hour with a 30-minute assessment.
o Start with the definition of financial management and explore some of the principles associated with it. You'll get a preview of the remaining four modules in the FMD Pro eLearning suite, which are built around the four key building blocks of financial management.
2 Accounting Records
o Every organization must keep an accurate and complete record of all financial transactions that take place so they can show how funds have been used. Accounting records include both the physical paperwork (such as receipts and invoices) and the books of account where the transactions are recorded and summarized.
3 Financial planning
o Financial planning is essential for organizations to achieve both their longer-term strategic goals and shorter-term project objectives.
4 Financial monitoring
o This builds directly on the two previous blocks, accounting records and financial planning. We cannot have timely and reliable project financial reports without robust accounting records, and we must have good financial planning systems in place to help monitor progress. Financial monitoring in projects is all about having regular and up-to-date financial reports to review project progress and make resourcing decisions.
5 Internal Control
o A strong system of internal control protects an organization's money, equipment and other financial resources. It helps to deter fraud and prevent errors in the accounting records, as well as protecting staff. We'll look in more detail at corruption and fraud in their various forms and identify ways to address them in your projects.
How should they be used?
The FMD Pro e-learning modules offer an introduction to the key concepts and building blocks of financial management for improving project “effectiveness”. Each module is broken into short segments, enabling the learner to click through, section by section, at a time that is convenient to them.
These modules serve as a stepping stone and primer in the FMD Pro learning journey, and the recommended next step is a facilitated workshop. The modules can also be used as a reference or ‘refresher’ tool combined with the more in-depth training needed to achieve the certification.