Accounting Principles for Microfinance Institutions

Start Date: 2023-02-20 End Date: 2023-02-24

Scheduled Dates:

   20-24 February 2023

   24-28 July 2023

Venue:                    Windhoek, Namibia

Duration:                5 days

Course Fee:           USD 1850.00

Course Description

 

MFIs have to be sustainable for long-term impact and that sound accounting is one of the pillars of their financial health for them to be sustainable. Microfinance institutions (MFIs) serve those at the bottom of the economic pyramid. Since the MFIs in the present times, have widely gained importance in providing various financial services of small amounts to entrepreneurs. These MFIs often receive grants and loans from national and international organisations for the performance of their activities. Based on this premise, for their long-term impact, sound accounting is significant. The design of this course is to provide a broad understanding of basic accounting principles and their application to microfinance simultaneously enabling participants to gain and apply the knowledge of accounting records relevant to microfinance projects.

The Aims of the Course

The course aims to:

• Provide a broad understanding of basic accounting principles and their application to microfinance simultaneously enabling participants to gain and apply the knowledge of accounting records relevant to microfinance projects.

Course Objectives

By the end of this training, delegates should be able to:

• Demonstrate broadly an understanding of basic accounting principles and their application to MFIs;
• Ensure continuous monitoring and following up to guarantee timely repayment of loans;
• Prudently apply the knowledge on basic accounting practises;
• Properly record transactions, prepare and present financial reports;
• Show the understanding of adjustments and their impact on financial reports; and,
• Review the purpose and components of financial statements relevant to microfinance.

Target Group

• Executive Directors,
• Finance Managers,
• Credit Managers, Operations Managers,
• Branch Managers and Board Members from Microfinance NGOs,
• Banks and Other Financial Institutions,
• Microfinance Networks,
• Apex Institutions & Credit Unions,
• National Government Regulators, And Donors and consultants