Finance for Board Members

Course Outcome:

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

- Why a Business Plan is important, and why it must have proper financial planning included.
- How a budget relates to the Business Plan, and how progress against the budget is reflected in the management accounts.
- What a sensitivity analysis involves, and who should participate in looking at it.
- How to plan for the seasonal peaks and troughs in cash flow.
- What the financial accounts involve, and why balance sheets really matter.
- Who should take ownership of the numbers, and how should they work with everyone else.
- How to look at management accounts, and what you should be able to get out of them.

Approach:

The course offers a demystifying explanation of the basic elements of finance as they affect typical arts organisations, and includes a mini-masterclass on looking at individual real life examples of management accounts to give participants confidence that there is no mystique in handling numbers.