Financial Management in Focus at the “Action in Hope” Training in Kryvyi Rih
May 3, 2026
In Kryvyi Rih, the second module of the educational program Mini MBA “Action in Hope,” which took place from May 1 to 3, 2026, at the “Shelter” of the “Caritas” charitable foundation, has concluded. The third educational day was dedicated to the topic of financial management.
The session was conducted by Oleh Martyn, who introduced the participants to the key principles of effective financial management in business and organizations. The participants — entrepreneurs, business owners, community activists, and representatives of local government bodies — reviewed financial management as a systematic tool that helps not only to control income and expenses but also to achieve strategic development goals.
During the training, it was emphasized that financial management is not just bookkeeping, but a comprehensive process that includes planning, execution, control, and analysis of financial activities. Its primary goal in business is to maximize profit and increase the value of the company.
Special attention was paid to building an effective financial system within an organization. In particular, they discussed the importance of transparency, accountability, compliance with accounting standards, and financial control, which ensures trust from partners and donors.
Participants also became acquainted with the three key components of financial management: accounting, tax accounting, and management accounting. Particular attention was paid to management accounting as a tool for decision-making, planning, and optimizing resource utilization.
The practical part of the training covered financial management tools, including budgeting, financial analysis, cash flow management, planning, and forecasting. Participants examined the main financial statements — the balance sheet, the profit and loss statement, and the cash flow statement — as the foundation for evaluating performance and business development.
The conclusion of the module marked an important stage for the participants of the “Action in Hope” program, as the acquired knowledge and practical tools will help them manage finances more effectively, develop their own projects, and strengthen the economic capacity of their communities.
Press Service of the Patriarchal Foundation “Mudra Sprava”