Reading Financial Statements: Financial Management Series on 18-Feb-09 9:00 AM

Wed, 18 Feb 2009 14:00:00 GMT

Reading Financial Statements: Financial Management Series
Start Date: 18-Feb-09 9:00 AM
End Time: 18-Feb-09 12:30 PM
Location: Austin Community College Highland Business Center -- 103.6, Austin, TX 78752
Speaker: Cheryl Black,

Event Details:

This session is part of our Financial Management Showcase Series. It is one of five sessions that an be taken/purchased individually or as a series at a reduced cost. This session is free. The other sessions in the series are $45 individually or $150 for all five.

Being part of a nonprofit organization provides many rewards, both individually and communally. However, too often a nonprofit organization’s lifespan is cut short because of finances, sometimes leaving questions of “why did this happen?” or “how did we get here?”

A nonprofit organization’s financial health depends on precise execution of the key components of an annual operating cycle. This series is an in-depth exploration of the major components.

READING FINANCIAL STATEMENTS

You don’t have to have a degree in accounting to be able to read and understand Balance Sheets and Income Statements. In this session you will learn –

which financial statements are required of nonprofit organizations

how each of these financial statements fit together to give you a total picture of your organization

how to draw conclusions and/or list questions for management based on analysis (a class exercise)

BUDGETING (4/22)

Essential to the success of the long range strategic plan for your organization, is implementing a strong annual operating budget. In this session you will learn –

several examples of how successful nonprofit organizations approach putting together a budget

the importance of involving the entire staff and board in the budgeting process

how to allocate overhead expenses to your nonprofit organization’s programs

hands-on practical budgeting by participating in a class exercise

AUDIT REPORT REVIEW (5/13)

It is imperative that a nonprofit organization’s books and records can be relied on as accurate and transparent to donors, lenders, and service based clients. That is accomplished by retaining an independent certified public accountant to perform an annual audit. In this session you will learn –

the difference between a compilation, review, and audit

how to prepare your nonprofit organization to be “audit ready”

the importance of internal controls

to read the various sections of an audit report and its accompanying management letter

IRS Form 990’S (6/3)

The Internal Revenue Service requires nonprofit organizations that meet certain criteria to file an annual information return. In this session you will learn –

the rules of who, when, and where to file

how to break down expenses into three functional areas

the new reporting rules and form changes for reporting year 2008

UBIT (Unrelated Business Income Tax) filing requirements

INTERNAL CONTROLS (6/24)

Because of corporate wrongdoings over the past several years, review of an organization’s internal controls has become an integral part of compliance reporting. Nonprofit organizations are included in this heightened scrutiny. In this session you will learn –

how internal controls can actually make your nonprofit organization stronger

the importance of segregation of duties

how to put together financial policies and procedures

the guidelines to follow pertaining to document destruction decisions

This series will leave you with a comprehensive grasp of how to develop your nonprofit organization’s financial health, thus supporting the life of your mission and allowing you to better facilitate the efforts of your volunteers and employees. Don’t lose sight of your mission by losing control of your finances! Enroll today!

TANO members are extended a 10% discount on the individual sessions ($40.50) or the entire Financial Management series ($135).

If you are interested in registering for the entire series for $150 please contact Candyss Bryant at 512-223-7051.

Austin Community College Highland Business Center -- 103.6

5930 Middle Fiskville Road

Austin, TX USA 78752

TANO - Calendar Events

Reading Financial Statements: Financial Management Series on 18-Feb-09 9:00 AM