Charity Accounting & Financial Management - Face-to-face course

This event is fully booked. Please see all our finance courses listed here.

Two day course, taking place in-person in London

Duration: 2-day course with break and lunch time

Participants need to bring copies of their organisations management and financial accounts and have access to the calculator function on their phones.

About

The understanding of finance is a fundamental requirement for managers, senior managers, chief executives and trustees. Yet it remains a topic that most people find confusing, boring and possibly frightening.

Using a jargon free approach with a sprinkling of fun this workshop is about allowing participants to better understand the fundamentals of finance as a management tool to support strategy, manage operations, understand what is going on and what changes are required. Numbers are also a key communication tool and underpins good management and transparency

The workshop also introduces participants to financial accounts – the legally required annual reporting that charities must comply with. This is a trustee responsibility but is often a responsibility delegated to the chief executive and senior managers. The workshop examines the importance of financial accounts, what goes into it and why is important in ensuring that charity is communicating its activities and outcomes and improves the charity’s ability to obtain funding and resources

Who should attend?

This workshop is ideal for those at, or approaching, management or senior management responsibilities in a charity or not for profit organisation who have little or no finance experience. Trustees too will greatly benefit from participation. Managers with financial responsibility with limited formal training or those wishing to brush up their knowledge are welcome

Outcomes

By the end of the course, participants will be able to:

• Understand numbers and financial information with greater confidence
• Use financial information to better set strategy, manage operations, take decisions and communicate results and organisational performance
• Get a better overview of forecasting and budgeting
• Improve the communication to funders with better financial information
• Understand what goes into financial accounts and why, and the importance of this for informing stakeholders, beneficiaries and funders
• Be more confident in asking questions and challenging finance managers and auditors

What will it cover?

•  Practical exercises to understand financial and management accounting process and reports
• Getting to grips with financial jargon
• Interpreting accounts
• Understanding costs, cost models, full cost recovery
• Generating forecasts and creating and managing budgets
• Practical application of management information for internal and external communications
• Understanding financial risk and how to manage this
• Improved ability to make better management decisions using financial information
• Understand restricted and unrestricted funding and reserves
• Basic principles underlying balance sheets and statements of financial activity

Trainer: Uday Thakkar, DSC Associate

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