Expectations are high that non finance managers from 13 private companies who recently participated in finance management training organised by the Institute of Chartered Accountants in Malawi (Icam) and Sycamore Consult, will help enhance their businesses.
The online training which was dubbed Finance for Non Finance online Leadership Conference, tackled areas of finance management such as accounting basics, analysing accounting reports, preparing budgets, and understanding audits among others.
In an interview Icam Chief Executive Officer, Francis Chinjoka Gondwe, said the aim of the training was to equip managers regardless of their profession on fundamental aspects of finance and accounting.
“Non-accountants have been having challenges to understand accounts yet their decisions are impacted by the accounts. By training them in key accounting matters they are better placed to make sound decisions that will enhance the viability of their organisation,” Gondwe said.
Sycamore Consult Business Development Manager, Mwai Makwakwa, said the training will help non-finance managers make informed decisions for the benefit of their institutions after attending the training.
“Finance knowledge is very important not only for managers but the entire workforce for them to contribute effectively to the company’s profitability. That is the reason we engaged an international finance expert who made a presentation from India so that we can draw lessons from other countries as well,” Makwakwa said.
The training comes as the country has a background of plunder of public funds when some unscrupulous civil servants connived to manipulate the Integrated Finance Management System in 2013.