Webinar Finance for Dummies

Lunch Webinar by Frank Hoes:

When it comes to finances, in my work as an advisor and trainer for directors and boards I encounter roughly three situations:

first: abundance of data

The board has a wealth of data on finances, real estate, members, occupancy rates, etc. They work with KPIs (key performance indicators), ratios and dashboards, but sometimes lose the overview. They can't see the wood for the trees and don't always know which information is really important. Where there is one person who understands everything, namely the treasurer who provides all the data. Such a knowledge island is dangerous.

secondly: lack of data

The board has insufficient insight into the financial situation and does not oversee the financial side of management. There is no clear picture of income and expenditure, no clear dashboard with basic information and little grip on future developments. Decisions are made based on feeling instead of facts, which entails risks.

and fortunately thirdly: the right balance

Fortunately, there are also boards that have their affairs in order. They have an overview, use financial information effectively and are familiar with financial concepts and methods.

Which of these three situations do you recognize within your board?

What would you wish for and do differently?

During the webinar we will discuss what numbers mean and how you can get a better grip on them.

Here are two important tips:

1. work with the THREE time horizons:

Past : Maintain complete accounting records to provide accountability to members, sponsors and grant providers.

Today : Keep your finger on the pulse of the current financial situation so that you can make adjustments in time.

Future : Work with forecasts and budgets so that you know what you are working towards as a board.

2. Make financial knowledge widely accessible

The treasurer should not be the only one who understands the figures (the aforementioned knowledge island). If only he or she knows how the finances work, there is a great risk that the rest of the board will become dependent and possibly misinformed - consciously or unconsciously.

Ensure that the entire management team has sufficient financial basic knowledge.

Good governance is one in which the treasurer thinks: 'If only I hadn't made my colleagues so competent in financial matters!'

Would you like to learn more about how you, as a board, can gain financial control without drowning in figures?

You will receive practical tools and insights to manage your finances better and more effectively.

And you will learn the most important financial concepts and instruments.

Registration is only possible by sending an email to Frank Hoes: frank@frankhoes.nl

with the message: "I would like to attend the lunch Webinar on March 3".

You will then receive a registration link from Frank Hoes.