Understanding Financial Statements

Every Board or Management Committee Member/Trustee has a duty to ensure that good financial management is being carried out by their organisation. It is not just the responsibility of the Chair and the Treasurer – it is one of the central responsibilities of Trustees. Good financial management is the efficient and effective management of an organisation’s resources (money, physical assets, people and intellectual property) in order to accomplish the organisation’s objectives. The purpose of this workshop is to have a better understanding of the financial reporting information produced by the organisation.

Areas covered in the Session:

• Legal obligations – what are the legal responsibilities of Board Members/Trustees in relation to Finance (financial management v financial responsibility
• Statutory Accounts – what format do Statutory Accounts take; Financial Statements – Income & Expenditure, Balance Sheet; the link between the 2 main Statements; what to look out for in the main Statements and Supplementary Information
• Management Accounts – Income & Expenditure, Cash Flow; the link between the 2 Statements; How to format Management Accounting information; what to look out for in the main Statements

For you if:

• you are or will be involved in the budgeting process 
• you need to learn budgeting skills
• you need to include budgets and financial planning in funding applications

Fee:

This course is fully funded and there is no charge to participants

Dates:

TBC