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Australian Institute of Company Directors - Boardroom Financial Acumen - 2018/19

 

Australian Institute of Company Directors - 2018/19 National Not-for-Profit Scholarship Program

The Australian Institute of Company Directors (AICD), in partnership with the Australian Scholarships Foundation (ASF), are pleased to make 140 full scholarships available to the Australian not-for-profit sector in 2018 and 2019. The scholarships will be offered in all states and territories and will enable directors, senior managers and emerging directors of NFP organisations with a turnover of less than $2m to attend one of the AICD's governance education programs. Click here to see the full list of available programs and locations.

Boardroom Financial Acumen

Scholarship Overview

 

Boardroom Financial Acumen is led by expert facilitators with director experience, who take participants through immersive situations based on real-world case studies.

 

The case studies require the simulated boards to work together to discuss, analyse, interpret and draw conclusions about the financial performance, financial position and cash flows of a company. They then identify the company's financial strengths, weaknesses and develop strategies that might address those concerns.

 

Each case study provides a series of key financial ratios. Each board must develop questions that they would ask of management in relation to the figures and what additional supporting financial documents they would request.

 

This one-day course assists participants understanding what types of questions and what additional information they would be expected to ask for in board meetings.

 

 

How will I benefit?

 

Over the course of the day, participants learn the key financial concepts and skills they need to fulfil their duties and responsibilities as directors. The course: 

  • highlights the importance of financial literacy and the financial reporting responsibilities and obligations imposed on directors by the law;
  • gives an overview of the three key financial statements, namely the balance sheet, income statement and statement of cash flows;
  • offers a simple step-by-step methodology on how to read, analyse and interpret the three key financial statements and draw conclusions;
  • provides participants with a take away "financial health checklist" that can be applied to any organisation;
  • assists participants understand key accounting concepts, such as accrual accounting, going concern, working capital, EBIT and EBITDA, and depreciation and amortisation.

 

 

Who should attend?

 

This course is for directors looking to develop, strengthen or update the essential financial skills that are required in board roles.

 

This course is suitable for directors with all levels of financial experience, though it is particularly helpful for those without a finance background.

 

It is recommended but not essential for participants to have completed the Company Directors Course.

 

 

 

COURSE DATES & LOCATIONS:

 This course runs over one full day on the following course dates and locations:

Sydney Wednesday 30 January 2019

Please note, applicants must only apply for scholarships available in their state or territory of residence.

 

Scholarship Inclusions:

Each scholarship covers 100% of the associated course fees. Travel and/or accommodation (if necessary) are to be covered by the successful candidates or their NFP organisation.

 

Eligibility Requirements:

Applicants must be an Australian citizen or Australian permanent resident who fits one of the following categories:

  • currently employed as an executive of a charity or not-for-profit organisation
  • a current non-executive director on the board of a charity or not-for-profit organisation
  • an aspiring non-executive director who may or may not work in the NFP sector but seeks to in the near future

Your current (or prospective) NFP organisation must:

  • have an annual turnover of less than $2 million
  • be an ACNC registered charity, NFP incorporated association, Company Limited by Guarantee, non-trading Cooperative or *social enterprise
  • fulfil ASF's general eligibility requirements available on our FAQ's page
  • not support activities that could be considered discriminatory, political, or religious advocacy or activism in any way

*see #7 of our FAQs for guidance on eligible social enterprises

 

Scholar Surveys:

All applicants (regardless of the outcome of their application) will be asked to complete a series of surveys about their expected and realised learnings (once before and on three occasions after the course) as part of the Learning for Purpose research initiative by the Centre for Social Impact (CSI) at UWA. This work is funded through the Australian Research Council and EY, and realised in collaboration with the Australian Scholarships Foundation, the University of New South Wales and Swinburne University. 

Learning for Purpose: Researching the Social Return on Education and Training in the Australian Not-for-Profit Sector is a ground breaking, national research program that investigates capacity building through professional development for the Australian Not-for-Profit sector. Your survey responses will help us to quantify the impact of our scholarships and will help attract funding for education and training for the NFP sector in the future. If you have any questions about the research please contact surveyasf@gmail.com.

 

More Information:

 

For more information about the program, please click here. For program queries, please contact the AICD directly. If you need assistance with the scholarship application process, please contact ASF via applications@scholarships.org.au

 

 

Application Process:

 

To apply, simply complete an online ASF application form by clicking on 'APPLY NOW' and following the prompts. Please note, applicants are not required to submit an endorsement letter for this particular scholarship.

Need help completing your online application? Download instructions for Creating a Profile Page and Making an Application.


Applications for the AICD's Boardroom Financial Acumen close Wednesday 13 June, 2018 at 5pm AEST.


Selection Criteria
The scholarships will be awarded jointly by ASF and AICD to applicants whose completion of the program would, in their view, benefit their current (or prospective) NFP organisation. Selection is merit-based and conditional on the applicant meeting the scholarship eligibility criteria and AICD?s entry requirements for the nominated program.
Closing Date : 13/06/2018
Search Tags
Subject Area : Leadership Leadership & Management Personal Development Finance & Investment Governance & Board
Course Type : Short Course
Location : NSW