The training will provide non-finance trustees with much needed confidence to understand and discuss finance at meetings. Delegates will develop an understanding of finance keywords, financial reporting and how they impact the organisation. We will run through financial obligations, budgets, and profit and loss without getting too technical.
By using simple practical tools delegates in attendance will be able to transfer what they have learnt to the organisation they are responsible for overseeing.
We incorporate a mix of delivery methods to ensure that all delegates are engaged throughout and achieve the agreed learning objective.
Aim – Demystify the numbers behind the financial documents discussed at board meetings
All delegates will be able to:
- Understand key finance terminology: assets, liabilities, depreciation, accruals etc.
- Know the difference between cash and profits/surplus
- Understand what budgets are and how to control them effectively
- Understand the role of the audit; what you need to know
- Assess key financial and operational information needed as part of financial reporting
- Understand the difference between statutory and management accounts
- Interpret accounts (practical examples)
Most delegates will be able to:
- Understand controls and managing risk.
- Assess the background of charity accounting including funds, reserves and legal requirements
- Understand all the various types of accounts and spreadsheets; what the figures mean, who they are for, and what they can tell you about the charity in the past, present and future.
- Understand where your own budget fits into the wider picture of your charity’s finances.
- Learn the various terms, obligations and practices of charity finance
Some delegates should be able to :
- Understand how to ensure financial compliance
- Assess accounting methods and scrutinise where possible
- Use management accounts and monitor performance