Centre for Financial Management (CFM)

The main objectives of CFM set out in the terms of reference prepared for it are as follows:

  • Identify training needs in the areas of financial management both in public and private sectors, including NGOs/CBOs  in Nepal
  • Develop and deliver innovative, customer-focused  and quality training packages for both the public and the private sector customers
  • Offer  various  consulting  services  (including  responding  to  demands)  in  coordination  and consultation  with CSD to support NASC’s customers for the improvement  of their financial management
  • Design  and  undertake  various  research  and  case-study  projects  for  developing  training materials and information base and improving research skills of NASC staff
  • Provide  an  organizational  set-up  for  challenging  work,  creative  thinking  and  innovative actions for NASC professional staff
  • Innovate  and  initiate  better  professional   practices   and  present  a  role  model  for  other functional units of NASC.

Major Functions
The major functions of CFM are described in terms of both functional and thematic streams. Each is described below:

Functional Streams

  1. CFM has four core functional streams in the area of financial management. They are as follows:
  2. Training and development function (both institutional and in-company programmes)
  3. Consulting service function (within NASC’s customers)
  4. Research functions (both within and outside NASC)
  5. Systems  development  function  (development  and implementation  of internal  improvement programmes)

Thematic Streams

  • Financial management
  • Strategic finance
  • Budget preparation and implementation
  • Fiscal procedures
  • Books of accounts and system of accounting
  • Accounting of consumable and durable goods and equipments
  • Management accountancy
  • Internal control and internal audit
  • Financial audit and settlement of queries
  • Fund flow analysis and cash management
  • Financial reporting and financial statements
  • Other areas related to financial managements