This module is the third of the four building blocks of financial management. It builds directly on the two previous blocks, accounting records and financial planning, since we cannot have timely and reliable project financial reports without robust accounting records, and we must have good financial planning systems in place to enable us to monitor finances. Financial monitoring in projects is all about having regular and up-to-date financial reports to review project progress and make resourcing decisions.

In this module, you will learn :

• what the different types of financial reports are used for, including the budget monitoring report, the cash flow report, and funder or donor reports.
• What to look for in a budget monitoring report, especially understanding variances that show a difference between what was planned and what actually happened.
• About analyzing and taking action on variances using a budget monitoring action planner.
• About other types of reports that are useful for monitoring finances for a variety of stakeholders, including funder reports and cash flow reports.

For more information on FMD Pro and FMD Pro Certification please visit www.fmdpro.org