NFF - NonProfit Financial Reporting Fundamentals (C)
Conducted over a full day, the NonProfit Financial Reporting Fundamentals programme examines the statutory and voluntary financial governance requirements for charities and the roles and responsibilities of directors of charity organisations with respect to financial management. It presents the key financial governance challenges facing a charity and looks at how key financial governance considerations affect financial reporting, including financial sustainability issues that charities need to consider.
Module 1 – Financial Governance for Charities
Course Objectives
- Differentiate between types of nonprofit organisations (IPCs, charities, companies limited by guarantee, societies).
- Understand the statutory requirements and the roles and responsibilities of boards of directors for charities with regards to financial management.
- Discuss some financial governance matters:
• Relevant financial governance mechanism/committees
• Internal control and segregation of duties
• Budgets
• Management reports
• Financial policies
• Conflict of interest policy
• Investment policy statement
• Internal audit
• Risk management
• External audits
• Financial sustainability
- Know the different types of charity status:
• Understand the statutory requirements for directors of charities with regards to financial management.
• Understand financial governance matters concerning NPOs.
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Module 2 – Financial Reporting for Charities
Course Objectives
- Understand the financial reporting framework and differentiate between the Financial Reporting Standards (FRS) versus Charities Accounting Standard (CAS).
- Know the obligations of a director of a Company Limited by Guarantee (CLG) and the requirements under the Companies Act.
- Explore the different types of funds, e.g. restricted funds, endowment funds, unrestricted funds (general) and unrestricted funds (designated).
- Understand financial statements:
• Statement of financial performance.
• Statement of financial position.
• Cashflow statement.
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CPD Hours : 8
| Full Course Fee : |
S$856.00 (incl. GST) |
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S$800.00 (excl. GST)*
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*This course has been pre-approved for VWOs-Charities Capability Fund (VCF) funding up to 28 August 2020. All exempt, registered charities and Institutions of a Public Character (IPCs) can apply for the VCF, and are required to submit the approval email from NCSS to SID via email to [email protected]. Registration is on a first-come-first-served basis, with priority to VCF-funded applicants.
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