Money Matters Part I: Financial understanding for non-finance managers

What is this session about?

This session will pick out the financial areas of a business to examine how these areas can be set out and used in a positive and practical way.   

We will explore areas, such as cash flow and budgeting, modelling and how practical steps can help organisations work positively in understanding their own financial position and needs and how to keep ahead of their own financial situation in an increasingly complex environment.

What will you learn?

We will look at the principles and tools to successfully understand, manage, analyse and present an organisation's financial situation, including:  

• How to interpret accounts and find out what they mean for the organisation.  
• The difference between a profit and loss sheet and a balance sheet 
• Define assets, liabilities and how to read and understand a balance sheet 

Why is this session relevant or important at the moment?

With community organisations needing to become more resilient, so the need to be able to keep on top of finances becomes so much more important.  An ability to quickly analyse financial data to make informed strategic and operational decisions could be vital to the very survival of the organeisation.   

At the same time, the need for accountability for finances is imperative.  Whether for compliance under regulations relating to tax or for funding bids or reports, being financially organised could mean the avoidance of problems or negative and uncessary costs to the organisation.

Who is the session for?

The session is for those who are not finance experts but whose role is senior enough to be impacted by financial issues affecting their orgnaisation.

Price

This workshop has been funded by the Local Access Programme and is free to attend. For more information, visit www.voscur.org/LAP

What else do you need to know?

This is a face to face session and will include a presentation and practical activities to enable participation, questions and peer learning. It will be held at Wellspring Settlement, 43 Ducie Road, Barton Hill, BS5 0AX.