Poltava “Action in Hope” mini-MBA program participants introduced to financial management fundamentals

Oleh Yatsenko, a financial management expert, led a session on “Financial Management and Fundamentals of Project Financing” for local business, civil society, and government representatives. He defined financial management as a comprehensive system for developing and implementing decisions to form, distribute, and utilize financial resources and organize cash flows, ultimately achieving operational and strategic goals. This system involves financial planning, organization, control, and analysis of financial operations.

Yatsenko also outlined key financial management tools that help organizations effectively manage finances, optimize costs, and meet financial objectives. These include:

• Budgeting
• Financial analysis
• Cash flow management
• Financial planning and forecasting
• Investment planning
• Credit management
• Risk management
• Financial ratios

The lecture concluded with a focus on grant funding, covering effective acquisition strategies and common mistakes made during applications or donor collaborations. Participants gained both theoretical knowledge and practical advice with real-world examples.