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Learn and apply concepts of accounting and finance and develop accounting management tools for small business owners in rural and urban Honduras.
Students are guided by our local staff and corporate consultants from leading accounting firms to support small businesses in Honduras with business financial management tools, such as balance sheet, cash-flow analysis, profit-and-loss analysis, break-even analysis, and personnel-expense forecast.
In addition to our skill-based learning objectives, building cultural competence is integrated into the course to increase the quality of services and improve outcomes with community partners.
Financial Management Tools Program Learning Objectives
Students that successfully complete the Financial Management Tools Program will be able to:
- Analyze economic and social issues impacting rural communities in a developing country.
- Learn concepts and components of accounting in the developing world.
- Discuss concepts of microfinance utilized in community banking in Honduras.
- Work with small business clients to develop financial and accounting tools to solve real business challenges.
- Collaborate with student colleagues in small groups to work with business owners to develop needed financial management tools.
- Present a workshop with student colleagues to their small business client on the accounting practices and management tools needed for their business.
Resources provided in support of the virtual sessions and Modules
- Bilingual, on-the-ground session facilitators and client liaisons with business backgrounds who will coordinate each virtual session with students.
- A translator is provided in each virtual session in which students engage with business clients.
- Corporate consultant drawn from major consulting firms.
- Full-time local teams that work year-round to support business clients.
- Electronic support materials in Canvas (LMS) are provided to all students.
- Session scheduling that coordinates all class meetings and meetings with business clients.
PROGRAM OVERVIEW
There are 10 Modules in this Financial Management Tools Program that can be variously assembled to build programs of the appropriate length and focus.
Module 1: Introduction to Kambia/Global Brigades, Economic Context in Honduras, Social Determinants Impacting the Economic Situation, and What Does It Mean to be a Consultant in an International Context? (Contact time: 2 hours est.)
Discuss the mission and vision of Kambia/Global Brigades, the economic context in Honduras, the social determinants affecting the economic situation of rural communities in this country, and key principles of international business consulting.
Module 1 – Self-paced follow-up activities
Students will reflect on how to achieve a sustainable business when consulting internationally.
Module 2: 7 Pillars of a successful Business and Community Banks (Caja Rurales) and the use of the Business Model Canvas (Contact time: 2 hours est.)
Understand the challenges that prevent Honduran business owners from being successful. Discuss the Honduran rural community banking model (referred to as a Caja Rural), and how these informal savings and loan groups play a critical role in alleviating poverty. The role of Eskala – Global Brigades in supporting the Cajas Rurales in Honduras. Using the Business Model Canvas (BMC) to assess business operations during a business consultation session.
Module 2 – Self-paced follow-up activities
Students identify parallels between Honduras’s Caja Rural model and early-stage credit unions in the United States.
Module 3: Financial Analysis of a Business in Spanish; Client Selection Process and Client Profile (Contact time: 2 hours est.)
Analysis of business financial management tools are conducted in Spanish – such as, balance sheet, cash-flow analysis, profit-and-loss analysis, break-even analysis, and personnel-expense forecast. Coordinator and client liaisons discuss the client selection process and present Client profiles with which students will support through their working groups.
Module 3 – Self-paced follow-up activities
Students work through the Business Spanish and Equation Package, completing it before Module 4. Students will also draft a brief introduction in Spanish that they will use with their Client in Module 5.
Module 4: Preparing to Meet the Client; Client Meeting 1 (Contact time: 2 hours est.)
Using the Client profile, student groups will use the Business Model Canvas Template to become familiar with their Client’s business. Student groups will develop questions to ask their Client to complete the BMC.
In the second hour, student groups interview their Clients using questions developed in the first part of the Module.
Module 4 – Self-paced follow-up activities
Student groups summarize their findings and continue to develop additional questions to identify the financial management tools used by their Clients for the meeting in module 5.
Module 5: Client Meeting 2 (Contact time: 2 hours est.)
With their Clients, student groups will discuss the financial management tools used in their businesses. Students will also seek data needed to develop any additional financial management tools needed in their Client’s accounting practices.
Module 5 – Self-paced follow-up activities
Student groups begin to develop any additional financial management tools needed by their Clients.
Module 6: Working session 1 (Contact time: 2 hours est.)
Student groups continue to develop their Client’s financial management tools and develop additional strategies to improve their practice. Student groups will begin to develop recommendations in a Workshop for their Clients that will be initially presented to their Professional Accounting Consultant in Module 7.
Module 6 – Self-paced follow-up activities
Students in their groups continue to revise their Workshops for the Professional Accounting Consultant presentations in Module 7.
Module 7: Workshop Presentations to the Professional Accounting Consultant for Feedback (Contact time: 2 hours)
Student groups will present their Workshops to the Professional Accounting Consultant for feedback and comment.
Module 7 – Self-paced follow-up activities
Based upon feedback received from the Professional Accounting Consultant, students continue to revise their Workshops in their groups.
Module 8: Working Session 2 and Executive Workshop presentation (Contact time: 2 hours)
Student groups finalize their Workshops, and then rehearse their presentations with the Session Facilitator, Client Liaisons, Professor and fellow students to seek additional comments and feedback.
Module 8 – Self-paced follow-up activities
Students in their groups finalize their Workshops for presentation to their Clients in Module 9.
Module 9: Financial Management Tools Workshop with Clients (Contact time: 2 hours)
Students groups present their Financial Management Tools Workshops to their Clients.
Module 9 Module 9 – Self-paced follow-up activities
Students in their groups revise their Clients’ Workshop recommendations based upon their meeting with their Client in Module 9. Written versions of the final revised Workshops, with recommendations and any newly-developed financial management tools, will be delivered to their Clients.
Module 10: Final Reflections (Contact time: 2 hours)
Discussion on Client feedback, and reflection on the program and its experiences.
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