LMNP concludes its second module on Financial Management for Non-Profits

The Leadership and Management for Non-Profit Professionals concluded its second module, Financial Management for Non-Profits last May 27, 2021. Throughout the five-week module, the cohort was guided by Mrs. Debbie Esquivias, a finance and investment specialist at Esquivias, Lim & Co., CPAs, and Mr. Luis Esquivias, the founder and CEO of Dorms.ph.

Consisted of five (5) sessions, synchronous and asynchronous, the module provided the cohort with basic understanding and knowledge of different topics under Financial Management such as: (1) Understanding Non-Profit’s Code of Ethics; (2) Basic Accounting and Identifying Warning Signs; (3) Basic Financing, Capital Budgeting, and Risk Mitigation; and (4) Basic Investment and Project Management. 

Understanding Non-Profit’s Code of Ethics

The first session focused on the importance and basic principles of NGO’s code of ethics. Case studies were presented by the course facilitators to practice and gauge the cohort’s understanding of the various aspects of the code of ethics involved in their development work. The session also highlighted the key principles underlying the code of ethics for non-profit organizations. 

Basic Accounting and Identifying Warning Signs

The second session discussed the topic of basic accounting and identifying warning signs. It aimed to provide basic introduction to financial accounting concepts and the communication of financial information to external users. Through illustrative examples and case studies, they were able to understand the fundamental concepts, key terminologies, and principles of accounting to prepare basic financial statements for their organizations. They learned to analyze transactions, to identify possible warning signs of fraud and distress, and to respond appropriately when faced with potential red flags.

Basic Financing, Capital Budgeting, and Risk Mitigation

The third session focused on several topics aimed at enhancing the cohort’s the basic skills on financing. The facilitators discussed the topics of (1) Key Financial Metrics, (2) Capital Budgeting, and (3) Risk Mitigation. The discussion was further deepened through breakout group activities wherein the participants were tasked to answer several exercises. Analysis of different financing case studies were also included in the session to further the participants’ understanding of the concept and skill of financing.

Basic Investment and Project Management

The fourth session focused on basic investment and project management, competencies which are essential and applicable to both the professional and personal endeavors of the participants. To further practice their understanding of the topics, the participants were divided into several breakout groups wherein they were tasked to practice strategic asset allocation and to simulate the preparation of a project management plan. 

Synthesis

The fifth and last session of the module was dedicated for the participants to discuss a case study through breakout groups. To synthesize what they have learned from the first four sessions, the LMNP participants were tasked to share among themselves how they ought to approach the case study, applying the competencies they developed in the previous sessions.

The Financial Management for Non-Profits module is designed to equip participants with the foundational skills and knowledge in accounting, finance, and investment, risk, and project management. 

The Jesse Robredo Institute for Leadership and Good Governance would like to express its gratitude and appreciation to Mr. and Mrs. Esquivias for sharing their knowledge and expertise with the rest of the LMNP participants.

LMNP is a one-year online fellowship program designed to prepare non-profit professionals in taking on leadership roles that will enable them to effectively forward their organizations’ causes. This program aims to develop and equip them with knowledge, skills, and abilities (KSA) in certain areas of leadership, management, and organizational development. Through interactive sessions and workshops, the program aims to create a network of non-profit leaders who will learn to collaborate and work together to solve societal problems.

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