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Half Day | Max. 12 Participants
Workshop Outcomes
- Understand the directors' legal duties in relation to financial reporting
- Equip directors with the financial skills to fulfil their governance responsibilities
- As a director, know what to look for and typical questions to ask
- Enhanced understanding of accounting terminology
- Enhanced understanding of key concepts including how grant funds are accounted for
- Appreciate why profit is not a dirty word in the not-for-profit sector
Topics Covered
- Explore why it's necessary for directors to be financially literate
- The legal obligations of a director in relation to the financial governance of the organisation
- The balance sheet- what's in it, why it's important for a director to understand it, what to look for and what the jargon means
- Explore the inter-relationship between the profit and loss statement, balance sheet and cash flow statement. Demonstrate how the profit or surplus builds the reserves on the balance sheet, and hence the capacity of the organisation
- Using a practical example, explain how grant revenue is accounted for
- We will bring this to life by applying the theory to the accounts of your organisation. Throughout the workshop, we will cross refer to the latest audited financial report and the financials in the board report of your organisation
Location
- Willing to work remote
- Willing to work interstate
How can this workshop be delivered?
- Face to Face
- Virtual
Overview
The purpose of this financial literacy workshop for not-for-profit boards is to equip all directors with a base level of financial literacy to enable them to fulfil their governance responsibilities. Directors from a non-financial background are expected to be able to interpret a set of financial statements and understand their statutory duties in relation to financial reporting and financial governance. This workshop will equip them with the foundational knowledge to do so.
In this 3-hour workshop we will look at the concepts and jargon underpinning financial statements, to enable all board members to feel more confident that they can interpret the story the accounts are telling, know what to look for and the questions to ask. We will bring the theory to life by using your organisation's financial reports and explore situations specific to the not-for-profit sector and your organisation.
Workshop Outcomes
- Understand the directors' legal duties in relation to financial reporting
- Equip directors with the financial skills to fulfil their governance responsibilities
- As a director, know what to look for and typical questions to ask
- Enhanced understanding of accounting terminology
- Enhanced understanding of key concepts including how grant funds are accounted for
- Appreciate why profit is not a dirty word in the not-for-profit sector
Topics Covered
- Explore why it's necessary for directors to be financially literate
- The legal obligations of a director in relation to the financial governance of the organisation
- The balance sheet- what's in it, why it's important for a director to understand it, what to look for and what the jargon means
- Explore the inter-relationship between the profit and loss statement, balance sheet and cash flow statement. Demonstrate how the profit or surplus builds the reserves on the balance sheet, and hence the capacity of the organisation
- Using a practical example, explain how grant revenue is accounted for
- We will bring this to life by applying the theory to the accounts of your organisation. Throughout the workshop, we will cross refer to the latest audited financial report and the financials in the board report of your organisation
Who is this workshop for
Not -for-profit boards and board members from a non-financial background who feel a bit vulnerable because they don't understand what the accounting terms mean, don't know the questions to ask and typically defer to the accountants on the Board.
It is encouraged that the financially astute Board members also attend, in addition to the CEO and CFO/Finance Manager.
Whilst it is preferred that numbers are limited to 12, to enhance learning outcomes by creating a safe space, please do enquire if your Board is larger than 12 people.
Handouts/materials provided
A couple of diagrammatic handouts to visualise concepts and for directors to use to take their own notes.
The organisation to provide copies of the latest audited financial report together with the financial information provided in a recent board pack.
What to bring
Pens and any questions in relation to the Organisation's financial reports.
Facilitator
About the facilitator
Debbie Millard is renowned as "the friendly face of finance," characterising herself as a people person who also excels in crunching numbers. She takes pride in the fact that her vibrant personality is often seen as too lively for an accountant's role.
Debbie has earned a reputation for discussing business finances in layman's terms, demystifying accounting terms and concepts so those without a financial background can grasp them. She builds trust with her clients by keeping workshop groups small, fostering an environment where it's safe to acknowledge gaps in knowledge. Her guiding principle is that "there is no such thing as a stupid question."
Workshop attendees have noted Debbie's exceptional talent for making finance an engaging and enjoyable subject, customising the material to meet the needs of the group and helping them achieve clarity.
Debbie, a financial literacy facilitator, is skilled at working with a broad range of clients, from large corporations and government entities to non-profits and small-to-medium enterprises. Her roles as a facilitator for the Australian Institute of Company Directors, the Small Business Development Corporation, and various non-profit boards have well-prepared her for this breadth of work.
Debbie honed her skills as a chartered accountant at KPMG, grew into a Chief Financial Officer role in a large private company, served as a non-executive director and Chair for non-profits, and has been a business coach for small-to-medium enterprises.
Debbie’s clients choose to work with her because she is down to earth. They know she has got the professional qualifications and experience to add value, but they want someone who is approachable. She fits in with organisations that are values based and genuinely care about their people.
Key Expertise
- Financial literacy for Directors
- Financial literacy for Leaders
- Financial literacy for Business Owners
- Making finance fun
- Talking about numbers in a way everyone can understand
Industry Focus
- Large Corporates
- For Purpose Organisations
- Private & family business
Based in:
About the facilitator
Debbie Millard is renowned as "the friendly face of finance," characterising herself as a people person who also excels in crunching numbers. She takes pride in the fact that her vibrant personality is often seen as too lively for an accountant's role.
Debbie has earned a reputation for discussing business finances in layman's terms, demystifying accounting terms and concepts so those without a financial background can grasp them. She builds trust with her clients by keeping workshop groups small, fostering an environment where it's safe to acknowledge gaps in knowledge. Her guiding principle is that "there is no such thing as a stupid question."
Workshop attendees have noted Debbie's exceptional talent for making finance an engaging and enjoyable subject, customising the material to meet the needs of the group and helping them achieve clarity.
Debbie, a financial literacy facilitator, is skilled at working with a broad range of clients, from large corporations and government entities to non-profits and small-to-medium enterprises. Her roles as a facilitator for the Australian Institute of Company Directors, the Small Business Development Corporation, and various non-profit boards have well-prepared her for this breadth of work.
Debbie honed her skills as a chartered accountant at KPMG, grew into a Chief Financial Officer role in a large private company, served as a non-executive director and Chair for non-profits, and has been a business coach for small-to-medium enterprises.
Debbie’s clients choose to work with her because she is down to earth. They know she has got the professional qualifications and experience to add value, but they want someone who is approachable. She fits in with organisations that are values based and genuinely care about their people.
Key Expertise
- Financial literacy for Directors
- Financial literacy for Leaders
- Financial literacy for Business Owners
- Making finance fun
- Talking about numbers in a way everyone can understand
Industry Focus
- Large Corporates
- For Purpose Organisations
- Private & family business
Based in:
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