Finance Essentials for Beginners (160724)

For anyone new to finances this session is not to be missed! Trustees, directors and other VCFSE leaders are required to act in the best interests of their organisation and the communities they serve, in delivering their activities. Join us as we learn more about the day-day essentials of finance

Cash Flow – A cash flow statement is a key financial document and the most important short-term priority for any organisation. Cash flow is the money that flows in and out of a business. Therefore, if you have more money flowing out than flowing in, you have a problem.
Learn more about the importance of a cash flow statement as a crucial element of your organisational finances we explore the 3 key categories which form part of this statement and how to interrogate a cash flow statement in more detail.

A Budget projects future money that will need to be spent in order to get your activities completed and helps you keep track of what is actually happening in your organisation.
We learn more about the importance of a budget and interpret key facts about budgeting and understand more around the methods of planning, implementation and monitoring of a budget.

Reserves are that part of a charity’s unrestricted funds that is freely available to spend on any of the charity’s purposes. Keeping funds in reserve are vital for the financial sustainability of VCSE organisations and a reserves policy explains why a charity is holding a particular amount of reserves and gives confidence to funders that the charity’s finances are being properly managed and will also provide an indicator of future funding needs and its overall resilience.
Delivered via Zoom