If you don’t have a background in finance, its not always easy to read and understand an organisation’s accounts. With different regulations and formats for different legal entities that are not for profit, it is not always easy to understand what statutory accounts and management finance is telling you about an organisation’s financial health.
Fleur Holden, Partner, Sayer Vincent delivered a session on key issues to be aware of when reading different types of accounts as well as the legal and accounting framework they are part of. The session looked at the difference between statutory versus management accounts and helped participants to consider the range of questions they could ask when thinking about effective financial management and the financial health of an organisation. In the current unprecedented situation of a pandemic and its impact on the not for profit sector Fleur provided a brief overview of current government emergency measures, and looked at areas of accounting regarding the furlough scheme and other temporary grant support that should be considered in assessing financial sustainability, and key indicators/warning signs in accounts. A recording of the presentation can be found here and a copy of the presentation can be found here.