Training Need Assessment

Gedu College of Business Studies

Gedu, Chhukha

Training Need Assessment. Submitted by: Ngawang Selden: (03230175)

Nima Youden (03230182)
Pema Dawa Choki (03230198)
Sangay Lhamo (03230259)
Sonam Wangmo (03230307)
Tashi Choden (03230333)

Bachelor of Human Capital Management, 3rd Semester

30-09-2024
 DECLARATION

Module Code: HCM204 Type of Course Work: Group Task

Module Title: Training and Development Module Tutor: Ms. Manju Shree Pradhan
Date of Submission: 30 September 2024

We Hereby declare that this academic work is my Our and those referred ideas from other
sources have been appropriately acknowledged. The material in this submission has not been
previously submitted for assessment. We Understand that if found otherwise, our Academic
work will be cancelled and no marks will be awarded besides legal consequences.
Ngawang Selden( 03230175) Sangay Lhamo( 03230259)
Nima Youden(03230182) Sonam Wangmo( 03230307)
Pema Dawa Choki( 03230198) ( 03230333)
Tashi Choden

FOR MODULE TUTOR

Sl. Marking Criteria Marks Marks

No Assigne obtained
d
1 Data Source 3% marks
2 Analysis 5% marks
3 Needs Identification 3% marks
4 Target Audience 2% marks
5 Recommendation 2% marks
Total marks
Feedback: Click or tap here to enter text.

Signature of Module Tutor

Contents
1. Introduction......................................................................................................................................1
2. Methodology....................................................................................................................................2
3. Analysis............................................................................................................................................3
3.1 Organizational Analysis...........................................................................................................3
3.2 Person Analysis........................................................................................................................5
3.3 Task Analysis............................................................................................................................7
4. Recommendation...........................................................................................................................9
4.1 Recommended Training Programs......................................................................................10
4.1.1 Financial Literacy Training.............................................................................................10
4.1.2 Communication Skills Workshops.................................................................................10
4.1.3 Stress Management and Workload Management......................................................11
4.1.4 Regular Feedback Mechanisms....................................................................................11
4.1.5 Financial Accuracy and Integrity...................................................................................11
4.2 Alternative Solutions if Training is Not Implemented.........................................................12
5. Conclusion.....................................................................................................................................13
6. Annexure.......................................................................................................................................14
6.1 Survey......................................................................................................................................14
6.2 Interview Transcript................................................................................................................23
7. References....................................................................................................................................31
1. Introduction
The Finance Department is an elementary unit of every corporation, as it plays a major role
in financial planning, management, and decision-making. It ensures that the nature of budget
management is well managed, performance forecasts are accurate, and regularities are
maintained. Training needs assessment of the Finance Department is of crucial relevance to
review both individual and organizational competencies aimed at ascertaining skill
deficiencies hampering performance, which must be aligned with company objectives.

The needs assessment in training would mean identifying the demands of the performance
and the capacity-building requirement an organization would need to meet such demands
and take care of its workforce. It shall create an effective way of allocating resources and
focusing on the highest demands. It also takes into consideration the resources needed to
accomplish the mission of an organization and enhance productivity.

It looks at identifying the performance gap and examining why and how it can be resolved. A
proper needs assessment analysis leads the designing of the training programs to ascertain
where the need for training lies, what should be taught, who needs training, and why training
is the most appropriate solution. Only a proper needs assessment enables the creation of
appropriate training programs that adequately correspond to learners' needs.

Some of the pressure points identified for the finance department are as follows:

 Budget Constraint
 Financial Literacy
 Risks Vulnerability with regards to calculation
2. Methodology
This training needs assessment report is for the Finance department of GCBS as a part of
learning for our module HCM 204.For this training needs assessment, our group have used
a blend of data collection tools which includes Survey Questionnaires, Interviewing and
Documentation.

For Survey Question, we have set the questions according to the requirement of the three
analysis (Organization, Task and Person). For interviewing, we have kept our focus on
identifying the main pressure points of the Finance Department. Our team have interviewed
all the finance team members consisting of three people. As for the documentation, our
group have refer the IWP (Individual Work Performance) of the Finance Section and other
finance documentation such as the financial reporting document. After the completion of the
data collection, we moved on with the next step which is to analyzing information using the
analysis tools such as SWOT analysis.

Table 1: Time and Activities Progress

Date Events/ Activities

st
21 August Framed draft survey and interview questions.
st
31 August Send the survey and interview questions to the respondents.
2nd September Received the responses.
3rd September Review the responses.
5th September Asked for additional sources for example IWP.
10th September Our group went to interview the finance department head.
15th September Our group gathered to analyze the responses.
25th September Started to compile the data.
th
28 Sepetember Gathered for proof reading.
Source: Developed by scholars

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3. Analysis
3.1 Organizational Analysis
Organizational structure concerning training needs assessment of the finance team is a
workforce comprising many skills developed through job rotation and communication
initiatives to enhance collaboration between departments. The setting is, however, beset by
several drawbacks, including severe resource constraints, inordinately high workload levels
during peak periods, and inadequate utilization of the EPEMS system, which is further
exacerbated by insufficient technical support. Also, the absence of any specific structured
mechanisms for providing feedback obstructs the free flow of information among the
members. Future outlook. The incorporation of advanced technological innovations
is supported by extensive training programs to enhance financial acumen across all levels.
On the contrary, with increased regulations in several markets, there are increasing reporting
requirements and emerging cybersecurity risks, which drive resources and performance.

The organizational analysis outlines the strengths, weaknesses, opportunities, and threats
relevant to the finance department. One great strength of the department is its diverse skill
set developed through role rotation that enhances flexibility and competence. Also, effective
communication, represented by regular cross-functional meetings, helps distribute important
financial information. Additionally, the close working relationship with the Ministry of Finance
positively positions the department to deftly navigate complex regulatory systems.

However, there are still several weaknesses that hinder the performance of the department:
inadequate resources lead to financial constraints; high workloads during audits and
quarterly closes may lead to burnout of personnel. Furthermore, delays in budget releases
arise due to ineffective utilization of the EPEMS system because of inadequate technical
support. Second, the absence of an institutionalized feedback mechanism leads to foregone
opportunities to address important contributions from team members.

Other areas of improvement include embedding new technologies like Robotic Process
Automation and advanced reporting tools to enhance operational resilience. Developing
substantial financial literacy training programs for all employees would help them to
understand the concept of finance more comprehensively. On the flip side, cybersecurity
incidents and increased reporting requirements pose significant challenges that would strain
the resources of the department and threaten financial integrity.

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Strengths: Weakness:
 Diverse skill set  Limited resources
 Proactive communication  High workload during peak times
 Establishing robust guidance  Inefficient Utilization of the
Electronic Public Expenditure
Management System (EPEMS) for
Budget Release
 Improper feedback channels

Opportunities: Threats:
 Technology Adoption  Cyber security breaches
 Employee Training Programs  More Reporting Requirements

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 3.2 Person Analysis
Since the finance department has three main employees: Mr. Ran Bir Darjee (Leader), Ms.
Jamyang Lhamo (Accountant), and Ms. Lhamo (Cashier and Guest House Manager). We
choose to analyze three individually through survey and Individual Work Performance (IWP).
The assessment aims to identify their present job performance, strengths, areas for
improvement, required skills or knowledge, and gaps between their existing and required
performance levels.

Table 1 Person Analysis

Overall Required
Employee Job Areas for
Job Title Performanc Strength Performanc
s Name Responsibilities Improvements
e Rating e Skills
Improve
 Overseeing
communicatio Advanced
finance Generatin
Finance n skills and leadership
Mr. Ran 10/10 section g creative
departmen emotional and tactical
Bir Darjee ( IWP)  Financial financial
t leader understanding thinking.
reporting ideas
.

 Reporting
Improve
Financial
Strong accuracy and Advanced
Statements
Ms. Accountin focus in analytical
Accountan ,
Jamyang 10/10 (IWP) g calculations; skills,
t  Profit and
Lhamo Knowledg increase user attention to
loss
e engagement. detail
analysis

Excellent
 Handling cash
Budgeting
Cashier Cash handling Address lack
skills,
Ms. and guest  Looking and of tools and
10/10 (IWP) resource
Lhamo house after guest customer budgeting
allocation
manager house interaction challenges
knowledge

Note. Developed by the Scholar

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All the three staff in the finance department does their job well, with good scores
demonstrating their expertise in their particular responsibilities. Mr. Ran Bir Darjee achieves
remarkable results and demonstrates exceptional leadership in the financial department.
Alternatives for improvement involve better communication and understanding emotional
dynamics within the team. Ms. Jamyang Lhamo with her accountancy performance is strong,
Focusing on the calculation correctness and increasing interaction with users can boost her
input and also advanced analytic training is encouraged. Lastly, Ms. Lhamo she also excels
in her part, earning a perfect score of 10/10 indicating her cash handling and customer
service skills are remarkable, she should learn budgeting techniques and tools to
successfully manage financial resources. In summary, addressing the identified areas of
improvement through focused training and skill upgrading would improve the general
efficiency and efficacy of the Finance Department.

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3.3 Task Analysis
The task analysis was done using the survey questions. In order to do this task analysis the
references or the sources are the questions from the Employment Training and
Development textbook. The task analysis highlights survey result of three employees in the
finance department. The table below shows the rating of importance and frequency of each
task performed by the employee.

Table 3 Task Analysis

Date:25/09/2024
Name and Position Task Frequency Importance
Ran Bir Darjee 1. Accounting 3 4
Finance Officer 2. Financial Reporting 4 4
3. Budgeting and 4 4
Forecasting
4. Cash Management 2 4
5. Tax Compliance 4 4
6. Financial Planning 4 4
and Analysis
Jamyang Lhamo 1. Accounting 4 4
PL 5 2. Financial Reporting 3 4
3. Budgeting and 3 2
Forecasting
4. Cash Management 4 3
5. Tax Compliance 3 3
6. Financial Planning 3 4
and Analysis
Lhamo 1. Accounting - -
Cashier/ Guesthouse 2. Financial Reporting - -
manager 3.Budgeting and - -
Forecasting
4. Cash Management 4 4
5. Tax Compliance - -
6. Financial Planning - -
and Analysis

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 7. Looking after 4 4
Guesthouse

Note: Developed by the Scholar

Importance: Frequency:

4: Very Important 4: Very frequent

3: Important 3: Frequent

2: Not important but needed 2: Infrequent

1: Not needed 1: Rarely

Since there are only three people in the finance department we choose to represent their
responses individually and these are what we have found out. Based on the ratings provided
by Mr. Ran Bir Darjee, financial planning and analysis, financial reporting, budgeting and
forecasting, and tax compliance are performed very frequently and are also considered to be
the most important tasks for him. Though accounting and cash management are rated very
important, the frequency is rated 3 and 2, respectively, for him which means being a finance
officer, the two tasks are needed but are not performed frequently according to his job
requirements. In conclusion, Mr. Ran Bir Darjee is performing well in most areas of his role,
but there is still room for improvement regarding cash management and accounting.

The ratings of Mrs. Jamyang Lhamo shows that she is performing greatly in most areas of
her role. While budgeting and forecasting are not considered as critical, they still require
attention. As for the rating, Ms. Lhamo is performing excellently in her job roles but it can be
suggested that she could also perform other tasks in terms of job rotation if required in
emergencies.

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4. Recommendation
The Finance Department forms the very foundation of any institution, especially a college
environment where effective financial management provides the basis for operational
success. From the SWOT analysis of the department and assessments provided for each
employee of the department, it appears that formal training is not required and at the same
time very necessary to identify skill deficiencies that exist in the system and to improve
efficiency.

The employees in the finance section have areas needing improvement, especially in
communication, risk management, and financial literacy. Addressing these gaps through
targeted training will enhance their ability to perform effectively in their roles.

A TNA will ensure that training programs are relevant to the goals of the organization. In
recognizing the skills required to meet those goals, the department can develop a more apt
workforce to manage both regulatory pressures and communications between departments
more constructively.

The current workload during peak times and limited resources highlight the need for training
programs that can streamline processes and improve efficiency. Training can mitigate
burnout and enhance productivity by equipping staff with effective tools and techniques.

Technology adoption opportunities point toward the need to deliver training in new systems,
such as advanced reporting tools or compliance software. In this way, both operational
resilience will be improved and employees will easily adapt to the changing technological
landscape.

Establishing structured feedback channels through training can enhance communication

within the department, ensuring that critical ideas are shared and acted upon.

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4.1 Recommended Training Programs
4.1.1 Financial Literacy Training:

Comprehensive programs are needed for all employees to stress key financial concepts:
budgeting, assets, liabilities, income, and expenses. In turn, this would better enable the
staff to make informed decisions while improving their interaction with users.

A Financial Literacy Training program would also have a high relevance to the goals of the
organization in that employees would be better equipped with the necessary knowledge in
terms of budgeting, assets, liabilities, income, and expenses. This understanding will
enhance productivity because the staff can perform their roles more suitably, hence
appropriate forecasting and proper resourcing. Besides that, a single financial language
improves communication among different departments, better-enabling teamwork and
assurance that all teams support the financial objectives of the organization. A financially
literate workforce is also better prepared to identify and mitigate risks, with more robust risk
management processes protecting the organization from potential financial pitfalls.

In fact, such training empowers employees to take control of their financial matters for better
job satisfaction and engagement. Consequently, engaged employees will be sure to prove a
boon in terms of organizational culture and objectives. Moreover, a financially literate culture
makes sure that employees will be able to plan for long-term financial stability and be in a
position to contribute towards the objectives of an organization with regard to its
sustainability and growth. In other words, financial literacy investment offers a pay-off on two
important levels: an increase in individual capacity and the building of an increasingly robust
and fit-for-purpose organization with which to take on today's challenges and leverage
tomorrows opportunities.

4.1.2 Communication Skills Workshops:

Targeted workshops aimed at enhancing emotional intelligence and relationship-building

skills will benefit leaders like Mr. Ran Bir Darjee by enabling them to communicate financial
information more effectively. Developing emotional intelligence can help leaders understand
and manage their emotions, as well as comprehend and navigate the emotions of others.
This can lead to improved communication, better decision-making, and stronger
relationships, all of which are crucial for effective leadership in any organization.

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4.1.3 Stress Management and Workload Management:

Workload management programs during peak periods can help avoid staff burnout.
Effectively distribute tasks and provide supplemental support during peak workload times;
allow employees to enjoy a healthier balance between work and personal life with reduced
stress. This will contribute to a better working environment and help ensure that employees
are supported and valued.

Stress Management and Workload Management training can greatly benefit organizations
by enhancing employee well-being, productivity, and workplace culture. By equipping
employees with effective techniques to identify and manage stressors, organizations can
reduce burnout and absenteeism, leading to a more engaged and motivated workforce. This
training fosters resilience, enabling employees to handle challenges more effectively, which
boosts morale and retention rates. Further, it fosters a good organizational culture that
supports good mental health through improvement in communication and interaction among
team members. Eventually, the investment in stress management training leads to higher
employee satisfaction, low turnover, and efficiency at work, hence the long-term success
and profitability of the organization.

4.1.4 Regular Feedback Mechanisms

Implementing training on how to establish structured feedback channels will encourage open
communication among team members and foster a culture of continuous improvement. This
means that team members will be equipped with the skills and knowledge to provide
constructive feedback in a structured manner. It also implies that there will be established
processes and tools in place to facilitate the exchange of feedback within the team. Overall,
this training aims to create an environment where feedback is valued and used to drive
ongoing enhancement and development within the team.

4.1.5 Financial Accuracy and Integrity

It was mentioned in the interview that they are at risk of making mistakes when doing their
job, which could lead to greater problems if not noticed sooner. While this is not because
they lack the knowledge, skills, and abilities to perform the job, training could be given in
order to minimize the risk of making mistakes. Understanding common errors, segregating
duties, regular reconciliations, automating tools, and practicing audits can be some of the
things that can be taught in the training which can help the employees to understand and
reduce mistakes significantly. This particular training could positively impact the organization
as it will improve financial accuracy, enhance risk management, increase efficiency, and
many more.

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4.2 Alternative Solutions if Training is Not Implemented
If training is deemed unnecessary or unfeasible at this time, alternative solutions should be
considered:

o Mentorship Programs: Pairing less experienced employees with seasoned

professionals can facilitate knowledge transfer without formal training sessions.

o Process Optimization: Reviewing current processes for inefficiencies could yield

improvements without the need for extensive training.

o Technology Upgrades: Investing in user-friendly software solutions may alleviate

some workload issues without requiring significant employee retraining.

o Regular Check-ins: Establishing routine meetings to discuss challenges and share

insights can help maintain open lines of communication without formal training
structures.

In conclusion, conducting a thorough training needs assessment is essential for the Finance
Department to enhance its capabilities, align with organizational goals, and improve overall
performance. Targeted training programs will address identified skill gaps while alternative
solutions can provide immediate relief if formal training is not pursued.

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5. Conclusion
For every firm to be successful financially, the Finance Department is essential. The
department shows strengths in areas like proactive communication, a diversified skill set,
and established collaborations, but there are also areas that require improvement, according
to this thorough assessment of training needs. Targeted training is required to improve
overall performance and operational efficiency in light of the deficiencies that have been
discovered, including inadequate feedback channels, excessive workloads during peak
periods, wasteful use of technology, and restricted resources.

The analysis of individual employees, such as Mr. Ran Bir Darjee (Finance Department
Leader), Ms. Jamyang Lhamo (Accountant), and Ms. Lhamo (Cashier/Guesthouse
Manager), highlighted specific skill gaps. These gaps, including communication, emotional
intelligence, financial literacy, risk management, and workload management, could be
bridged by implementing targeted training programs.

Important suggestions include stress management training to better manage peak

workloads, financial literacy training to provide a deeper understanding of fundamental
financial concepts, communication skills workshops to enhance leadership and interpersonal
abilities, and the establishment of structured feedback mechanisms to promote continuous
improvement. The department's competencies would be strengthened by these training
programs, which would also guarantee alignment with the organization's goals and boost
output, judgment, and general job satisfaction. If formal training is not an option, there are
other ways to make improvements right away, like through the use of mentorship programs,
process optimization, technological upgrades, and frequent check-ins. The recommended
training programs will create a more competent, resilient, and engaged workforce,
contributing significantly to the organization's long-term success and sustainability

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 6. Annexure
6.1 Survey
Participant 1:

Yes I acceptionally know. Timely work but due to delay In system it get sometimes

Budgeting

Yes sure

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Yes

Yes

Forms

Sometimes
Yes always

No, due to system failure I lacks my work

Yes always

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Yes, Lower budgets can force teams to use less effective materials or tools, impacting the quality
of the final product.

Yes, obstacles to performance often include issues like faulty tools or equipment, which can hinder efficiency and
effectiveness. Other challenges might include inadequate training, lack of resources, communication breakdowns,
or environmental factors. Addressing these issues is crucial for optimal performance.

Having managers
I perform andproviding
my job by peers willing to provide
information, feedbackquestions,
answering and reinforcement is crucial
and generating for growth
creative and development.
ideas based on user
Open linesCrucial
prompts. of communication
skills includecan foster
natural a supportive
language environment
understanding, where
context constructive
awareness, andcriticism andAreas
creativity. recognition
for
are shared, helping
improvement couldeveryone
be nuancedimprove and stay
emotional motivated. and deeper context retention over longer interactions.
understanding

Financial Reporting: Preparing accurate financial statements that comply with various standards IFRS requires
meticulous attention to detail.

In accounting, performance expectations typically align with professional standards and regulations, such as
accuracy in financial reporting and adherence to ethical guidelines. Whether one meets these expectations can
depend on experience, training, and the complexity of tasks. Continuous learning and adaptation are crucial to
ensure ultimate performance.

Yes, I can understand and learn the content of an accounting training program.

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Forms

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 Participant 3:

Yes, accountancy knowledge

Multi tasking

Yes

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Yes there is

Equipment

Forms

Yes

Yes

Yes

Recognizing

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 Pie Chart of question 1 for all the responses:
6.2 Interview Transcript

First question, what are the primary challenges that you face due to budget limitations
and challenges you faced?

Yeah, we are facing lots of challenges.

If yes, what specific areas of your operations are most affected by the budget
constraints?

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My area or college area? Finance department. Finance department, I think we don't face
any challenges, budget constraints. There is a constraint in budget, it is impacting the
students as well as the whole student network. So in my area, there won't be any kind of...
At last for the college, if there is a budget constraint, we are not able to meet our daily
application. For example, now soon we are going to construct a new academic block and we
ask budget release from ministry of finance and they are not giving so there is a constrained
budget so we are not able to work on the new activity additionally example now let's say we
are having a plan to do a major renovation in our indoor area right we want to change all the
roofing we want to put all the new furnitures for those students who are preparing for exams
down there, right? But if there is a budget constraint, if the Ministry of Finance or our head
office, OBC, if they are not willing to give us budget, then we are not able to perform our
work. So this is the budget constraint. For us, in my finance section, if there is a budget
constraint, it is not going to impact only the finance section.

Can you describe the types of financial reports you are required to produce?

This is the financial report I have prepared for the financial year 2024. Usually for the
financial year we count from 1st of July to 30 June.

I need to prepare cash flow statement, and I need to prepare statement of financial position,
statement of income and expenditure, and change in equity.

I also need to prepare the trial balance but it is not mandatory for the audit purpose. I don't
present to them but at the end of every financial day, to show the transparency and integrity
in my financial transaction that I'm doing in the complete one year, I need to prepare this
kind of financial statement and I need to present this to the Ministry of Finance.

Are there any specific reporting deadlines or requirements that are particularly
challenging to meet?

Yeah, yeah. You know, they ask, sometimes they ask immediately, they ask us to prepare
the financial statement within one year. And you know, at the end of the month, we are
listening to the month closing.

So that time we always have to face because there will be always a short, sometimes there
will be a BAS, you know, bank reconciliation statement. In that situation, we always have to

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face a lot of shortage, sometimes surplus of the budget. ask us to provide them a financial
statement within one to two weeks.

So these are the various challenges that we face, but sometimes we don't face these
challenges. Regarding the technological challenges, there might be some financial software
tools that the finance department use in order to manage the budget and do the

financial tasks.

what kind of financial software tools do you currently use and how effective are they?
Okay, financial tools.

In a nutshell, the question talks about what are the financial tools that do the financial
activities, right? As of now, we are using the system called EPEMS. It is electronic public
expenditure management system. Electronic public expenditure management system. In
short form it is called EPEMS. So for us it is easy to use this system. So the problem in this
system is, you know, sometimes if we forget to ask for release, if we forget to do the work on
the system, then the deadline gets over, right? So we cannot assist the system. This is the
challenge. And sometimes we used to ask for release sometime. The head from Ministry of
Finance, they used to forget to approve that release.

During that time, we are not able to provide the necessary services to our clients. Usually for
the finance, for the people who are working in management finance account we call our
customers as a client so during that time we are not able to provide them services otherwise
and sometimes the system gets down and we have sometimes we need to do our
emergency work here and I need to make an immediate payment because of failure in
system i cannot And another one is, we used to use the system called EDID, Electronic Daily
Allowance, EDID. EDID means Electronic Daily Allowance and Travel System, EDID. So this
system is mainly to apply for the TAD and all these things.

What steps have you taken to address these technological gaps? What are some of
the backup plans that you have kept for the technological issues that you have faced?

For such, when I face such issues, I don't keep any backup, I just criticize the system. Yeah,
and I, the end, the end of the solution is, I used to make a complaint to the Ministry of
Finance, the Ministry of Finance website. Whenever we receive any kind of challenges or
any kind of system failure, we always need to report to our head of agency, to the Ministry of
Finance. So what I used to do is, there is a log form in the Ministry of Finance, the complaint
log form. So there, I used to raise my complaint.

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What strategy do you employ to mitigate the cyber security risk associated with the outdated
or vulnerable technology?

How do you collaborate with other departments regarding the financial matters?

Yeah, as and when, you know, at the end of every financial year, I used to ask release,
budget release, annual budget. So to ask the budget, I need to talk with various sector
departmental, sector heads, we have departmental heads,

we have sector heads, HODs and these things. I used to call them for the meeting, we used
to gather together for the meeting and to do that I will ask them, I will ask them how much
budget can I put for the research and development.

For the state manager, how much can I put budget for the repair and maintenance. For the
something such as work is for accreditation, for sir, what for accreditation, what is the budget
amount that I need to make. This is the kind of collaborative work I used to work with the
various departments. And if they ask a budget, I used to see their work, I used to see their
necessities, their content, and I used to ask the budget from the Ministry of Finance. This is
the collaborative work I used to work with them.

What specific departments do you most frequently meet with regards to financial
matters? Financial matters?

I closely used to work with the state manager,

the state manager, and procurement officer, and sometimes with SSOs when there is an
issue with the students' staff.

And for us, we are the financial service provider. So, directly or indirectly, we have a practice
of working closely with all the departments.

But our immediate working partner is state managers, something sort of deputy president.

How do you handle the conflicts or disagreements that arise during the financial
discussions with other departments?

Conflict? I don't yet. Sometimes there is to be conflict, so I don't have potential, you know,
confidence in addressing such kind of conflict so what I used to do is this is the budget
amount so please have a mutual understanding among the departmental head and let us
distribute this budget so my work is just to ask release just to present them this is the budget
I receive for the accreditation for the budget for the research and development for the
professional development so please sector head expect this, please look for this.

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Do you think the collaboration could be improved further and what steps are you
considering to achieve this?

Yeah, collaboration, it can be achieved always if we have a good cooperation in the team.
So to achieve a good collaboration within my team, within my section right or a college
management at a large

finance department we have a good collaboration to achieve the whatever work they
assigned to us whenever there is a task our team we don't consider and we don't delegate
our work if it is regard to my finance work right even when I am in absence my madam wish
to work And when there is accounts work, right, preparation of vouchers, accounts
transaction, I used to do. So there is no work relegation for this. When there is a work for
cashier, I used to go to her desk and I used to perform the work for cashier. So when, during
my absence, my madam cashier used to come to my desk and work for the finance works.
So this is the collaboration that we used to work with in our finance section.

Do you face any challenges in sharing effective communication and alignment with
other teams or departments? Challenges of? In sharing communication,
misinterpretation of work.

Yeah, no, no. Yeah, sometimes I used to face. Sometimes I used to face there is a
miscommunication between my department and the other employees. They used to get
wrong information from us.

Sometimes we provide them wrong information. Sometimes this kind of situation we face.
How often do you hold cross-departmental meetings and what are the... Often we hold
cross-departmental meetings. the staff general meeting and the exit and entry meeting.

This is the overall meeting that we, the finance section, provide the presentation to them
saying about the finance, this is the staff welfare we collect, this, this, this. But within our
various departments we have a CMC meeting that is college management we are the
college management team so from there we used to come all the sector heads sector heads
HODs HODs they come sometimes they come as invitees if there is their agenda but CMC
for the every two months for the in every month we used to have two times in during that
meeting we discuss about the what are the various issues, challenges, or what are the
changes that is going in our college. So in terms of sector heads, in CMC, we always used to
have two meetings in every month, every one month.

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How do you gather the feedbacks from other departments about the effectiveness of
this communication and collaboration among?

Mm-hmm, question? How do you gather the feedbacks from the other teams about the
effectiveness of the communication and collaboration that is being done?

Within our team? We don't gather, we used to talk. We used to make a shout from here.

Just verbal feedback? Yeah, verbal feedback.

What training or resources do you provide to help the team members improve their
communication skills?

I don't provide any kind of training but I have a right and I have the authority to fight for their
training.

But Bhutan is always about the budget constraints so they say we don't have a budget and
PD and these things. So as of now I don't have any idea or I haven't provided any kind of
training to them to have a good effective communication.

But as of now, I feel like we are having good effective communication. Because of good
effective communication, we are able to perform our tasks in time.

From Sir's point of view, does your department feel adequately prepared to address
the financial literacy inquiries or is there a need for additional training?

Yeah, we, you know, when we talk about the financial literacy, we know what is investment,
what is expenditure, what is saving and these things. But if you go into persons, there is lots
and lots about the financial literacy with the financial section need to know. Right now I'm
working with the finance, right? I don't know, I don't have any good saving habits. I don't
have any investment habits, yeah. So to help that, to change my mentality, you know, my
finance section, we always, you know, look for the trainings, like for the financial literacy, but
we are not getting that.

With regard to the cash flow management, how does the finance department currently
monitor and manage the cash flow?

Cash flow? For the, you know, to manage the cash flow in my department, we don't have
any kind of profound or any kind of smart cash flow management system. Because we are a
non-profit organization, we are a public institution; we don’t look for profit earnings. Whatever
budget we get from Ministry of Finance, we use to invest. We don't maintain any kind of
good cash flow management because now let's say we need cash for the students who are

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going for the exchange program right now we need to ask the budget for the exchange
program right so if we are a profit earning business we look for minimizing the cost as far as
possible we look for minimizing the cost but we are not a profit earning business. We are
getting budget from the Ministry of Finance for the students. So we used to invest like that.
That is the required budget proposed by the escort or any kind of course group of students.
We used to provide them. We don't have any kind of management, good management. That
is the budget allocated for the students. So why the finance should section over think and try
to manage all that cash? We don't have any authority.

Are there any cash flow challenges that the finance department have encountered
recently?

No, we don't face any challenges because whatever the budget we ask, we get from the
Ministry of Finance. If that is the budget that should be used from our internal revenue, then
definitely we will face the cash flow, right? So as of now, we don't face any.

Do you think that the cross-departmental collaboration plays any role in maintaining
the cash flow?

You know, now when we talk about this, the other department, they don't help us to make a
good transaction. When the various HODs or the HEADs, when they propose the budget,
they don't talk about the cash flow statement, these things. They don't ask finance work, do
you have a budget for this and this? They don't ask. So as of now, I don't think they are
helping us to maintain a good cash flow statement. But it is also not their duty because this
is the government institution so whatever the project whatever the budget the ministry of
finance release from the head office it is all for the students and stuff so because of that
reason if it is a private institution or the profit and institution definitely all the departmental
heat they are supposed to help us in the profit earning. so for the public education institution
like us, there's no any kind of train as of now.

How do you handle the unexpected expenses of financial emergencies?

You know, sometimes when we encounter with such kind of situation, to handle that financial
lapses or the challenges, our casher Madam, she used to collect from the rental, right?
Rental from the staff, students, all these things. So from the fines and penalties, fine like the
students who are not going to prayer, and morning assembly, these things. So we used to
collect fines and penalties. It remains in the hands of our Madam casher. So when we

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encounter with such kind of problem, immediately we ask her to give and we use that fund.
That is the simple way we used to hear.

How often is the finance department involved in strategic planning discussions

regarding the college management?

Regarding the college management, the finance section, finance always used to represent
there.

So whenever they come up with new strategies, new policies, new works, I'm the one who
looks on the budget. So I say if this plan works for the staff as well as the students, if this
strategy helps both the students and the staff, then I will say this is the budget for your
proposed, this is the budget we have, but if that is important to the college, okay, I will ask
another region I will ask the budget from another overhead. So I don't take, I don't, you
know, in every meeting, I don't have to actively take part in the strategies for commission or
implementation any kind of, but to represent the budget about that strategy , I have to take
part.

What specific tools and technologies does the financial department currently use to
gather and analyze the financial data? Is it the same as the ITC?

To analyze the data, financial tools, the finance section used to use Tally prime. My madam
account. She used to run the Tally prime. She is the admin of Tally. So this is the only
financial tool. So this EPMS and EDIT, this is just to make a, this is just to ask release and
make a payment. For our daily operation, our daily college operation, we always used to run
the tally prime. This is the tool as of now. But the Ministry of Finance, they are working on
this to merge everything in the EPMS. So that every release is asked from the Ministry of
Finance and payment is made from EPMS.

What challenges do you face in translating the financial data into actionable insights?

I don't face any challenges to analyze the data. If I put directly in ChatGPT, ChatGPT will
help me to analyze all the data. But as of now I haven't done this because I studied finance,
so I should know this financial statement analyzing the data. So to analyze the data, you
know, I used to refer, go back to my slides of when I studied in this college. I used to keep all
the slides, you know.

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So to analyze the financial data and these things, everything is taught in this college. So I go
back to the slides, I refer to slides and I learn myself.

With regards to the financial department, do you think that the team members need
some training if you were ever given a chance?

Yeah ,you know because when we talk about the finance department we are under so many
we are jeopardizing ourselves we are putting ourselves in so many risks you know if we
meet with this simple decimal amount you are in which course? HR. HR okay HR your work
is to just to be working theories and this thing but in the finance and account section we use
to always work with the digits right if you make even a mistake in one zero we are in thick
soup, so to mitigate that kind of issue right if the I always you know people to give them a
training to work on how to mitigate such kind of overwriting the system. How to go with the...
if they make this system, these errors, they should have some training to mitigate this. The
Ministry of Finance, they all know these things, but our staff, we don't know.

If we make a mistake in our financial statement, these things, therefore all the system these
two adopt a the system from different sources and evidence but our finance section, we
don't have this so I feel like they all they know still deserve some trainings so this will directly
or indirectly impact to our finance sections I feel like this.

Financial literacy and the one that you mentioned right now are some of the trainings
needed for this department, so do this training align with the organization's strategies
and goals?

Yeah, they definitely will align with the goals. When I relate this with the finance section with
the management as a whole our role is to provide the good financial services to the staff as
well as to the students, right. So I definitely feel like it is aligned.

7. References
Courses Program Topics | AMT Training. (2022). AMT Training.
https://www.amttraining.com/course-program-topics/

How to Conduct a Training Needs Assessment in 9 Steps. (2024). Deel.com.

https://www.deel.com/blog/conduct-training-needs-assessment/

Lark Editorial Team. (2024, April 25). Swot Analysis for Finance Teams. Larksuite.com.
https://www.larksuite.com/en_us/topics/goal-setting-techniques-for-functional-
teams/swot-analysis-for-finance-teams

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‌Noe, R. A. (2023). Employee Training and Development (9th ed.). New York, NY Mcgraw-
Hill Education.

Symonds, C. (2024, January 18). How to Conduct a Training Needs Analysis (with
examples) - Factorial. Factorial Blog. https://factorialhr.com/blog/training-needs-
analysis/

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