European Academy for education and social research

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Master Financial Management of European projects

Stress free management practices and dealing successfully with auditing by the European Commission.

Why to take this course?

A competent financial manager of European funded projects will never be jobless since more than 140 billion EUR should be managed properly every year by following the ENA rule. They need to be Economic, Necessary and Actual.
However, acceptance of your financial reports by the funding authority or an auditing firm is not enough. Your project can be audited by EC services and its agencies from 3 to 5 years after its last payment and EC audits have been tripled since 2007. EC auditing identifies errors to 87% of audited beneficiaries that lead to rejection of claimed costs in their financial statement that have been approved initially by the funding authority and its financial officer.

15-18 May 2018
Science 14 Atrium
– Rue de La Science 14b, Brussels (Belgium)
Day 1+2 EUR 1290
– Regular participation fee

Day 1+2+3EUR 1790
– Regular participation fee

Full CourseEUR 1990
– Regular participation fee

Fundamentals as financial manager and familiarization on EU Legislation on European Funds

09:00 - 10:00	09:00 - 10:30 Fundamentals in Financing Rules: Funding types, Financial Liabilities, EC payments and auditing periods How to specify/distribute the budget during the application process
10:00 - 11:00
	10:30 - 11:00 Coffee break
11:00 - 12:00	11:00 - 12:30 How to use and take advantage of specific EU legislation on european funds and apply it within your financial management practices and for defending your arguments to the EC officers and auditors
12:00 - 13:00
	12:30 - 13:30 Lunch break
13:00 - 14:00
	13:30 - 15:00 Group work on EU Legislation on European funds
14:00 - 15:00
15:00 - 16:00	15:00 - 15:30 Coffee break
	15:30 - 17:00 Coordinator Rights and Obligations Contractual Aspects and Administrative Management
16:00 - 17:00

Error-free Financial Reporting Practices

09:00 - 10:00	09:00 - 10:30 Eligible Costs/ Eligibility Check (ENA rule) Ineligible costs / Conditions for ineligibility Direct Costs Categories Indirect Costs Practices for eligibility of staff costs Time monitoring and recording free tools
10:00 - 11:00
	10:30 - 11:00 Coffee break
11:00 - 12:00	11:00 - 12:30 Practices for eligibility of mission (travel and accommodation) costs Practices for eligibility of Equipment costs Practices for eligibility of Subcontracting costs Practices for eligibility of Other costs
12:00 - 13:00
	12:30 - 13:30 Lunch break
13:00 - 14:00
	13:30 - 15:00 Think and act like a competent financial manager of European Funded projects, i.e.: Understanding the financial reporting What should and should not be included How to monitor and control your partners’ financial reports How to be a project manager and think as an accountant and vice versa Errors and common mistakes in financial reporting Individual support on completing the financial report of your project How to apply the ENA rule in any European Funding Programme
14:00 - 15:00
15:00 - 16:00	15:00 - 15:30 Coffee break
	15:30 - 17:00 Discussion on any gaps and addressing individualised weaknesses for ensuring all participants are confident in addressing their financial reporting tasks
16:00 - 17:00

Developing an EC – Audit proof approach

09:00 - 10:00	09:00 - 10:30 Groupwork on fully completing a challenging Financial Report
10:00 - 11:00
	10:30 - 11:00 Coffee break
11:00 - 12:00	11:00 - 12:30 Groupwork on fully completing a challenging Financial Report (Cont.)
12:00 - 13:00
	12:30 - 13:30 Lunch break
13:00 - 14:00
	13:30 - 15:00 Fundamentals on EC Auditing: Audit types, Contractual Provisions, EC audit outcomes and process Preparing for the EC Audit Pitfalls to avoid in EC audits Strategy by the beneficiaries before, during and after the EC audit
14:00 - 15:00
15:00 - 16:00	15:00 - 15:30 Coffee break
	15:30 - 17:00 Familiarisation with all the documentation requested by EC Auditors
16:00 - 17:00

Preparing your own Financial Handbook of the management of European Funded Projects

09:00 - 10:00	09:00 - 10:30 Familiarisation with a given template developing a financial handbook as an effective code of practice for internal procedures in financial management
10:00 - 11:00
	10:30 - 11:00 Coffee break
11:00 - 12:00	11:00 - 12:30 Group or individual work on developing a financial handbook for your organisation or your client as financial manager
12:00 - 13:00
	12:30 - 13:30 Lunch break
13:00 - 14:00
	13:30 - 15:00 Group or individual work on developing a financial handbook for your organisation or your client as financial manager (Cont) Revision of financial handbooks per group with the support of the trainer
14:00 - 15:00
15:00 - 16:00	15:00 - 15:30 Coffee break
	15:30 - 17:00 Formative Assessment and individual feedback to each participant for ensuring that each participant by the end of the course is considered a professional and competent financial manager of European Funded projects
16:00 - 17:00

Course leader:

Nikolaos Floratos

Nikolaos is ranked by Google and Linkedin in the top three positions as funding expert. The last 9 years, he has transformed hundrends of individuals into successful administrative and financial managers through science-backed and experience-based training and coaching practices. He has been involved as manager of european funded projects since 1997 and since 2010 supports organisations to develop an audit-proof approach in the financial management of their EU funded project. His strong point is not only his vast experience in financial management and auditing practices but also his way to make people understand and master complex issues such as financial management and EC auditing by decomposing them into simple step-by-step practices. Through his PhD research that focuses on student engagement and his 10 years training experience, he has proved that anyone can master even complicated subjects very fast by receiving training and support in an engaging way and with the proper instruction strategy. He delivers all his courses and seminars based on continuous interactions with his audience and based on “recipes” and practical steps that allow them to absorb easily what they should master and achieve extraordinary results very quickly.

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GET THE MOST OUT OF THE MASTERCLASS

Workbook

Get the materials of the Masterclass in advance, to get insights from the Expert beforehand.

European Project Kit

Enhance even more your knowledges: receive our useful kit composed by 4 digital documents as support in producing accurate project proposals.

Certificate of attendance

Certify the knowledge and skills acquired during the Masterclass with a digital Certificate issued by the European Academy for education and social research.