McGrew_MBA721 Section 1 Key indicatiors

McGrew_MBA721 Section 1 Key indicatiors - everything is in...

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M c G r e w | 1 Key Indicators 1. Prepare monthly accounting reports 2. Furnish monthly treasury reports 3. Maintain financial policies 4. Evaluate financial staff 5. Report to stakeholders Monthly accounting reports show changes in the financial picture and include the following variance reports Current revenue and expenses in comparison to budget, previous-month, same month prior year actual Current year-to-date (YTD) revenues and expenses with a comparison to YTD budget and YTD previous actual It is important to monitor the treasury reports as they track cash in hand rather than transaction posted to the accounting system. By maintaining financial policies, everyone ensure the best practices are being used and
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Unformatted text preview: everything is in order. It is important to evaluate financial staff to ensure that communication is effective and all procedures are being followed and see that management teams serve their organizations well. Finally, when everything falls into place an organization will be prepared to show all the financial aspects of the organization to all their stakeholders. Reference: Robinson, J.H. (2006, Nov/Dec). Monitoring your organizations financial health: A CEOs guide. Nonprofit World. 24 (6), 28-29. Retrieved from direct=true&db=bth&AN=23425944&site=ehost-live...
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This note was uploaded on 03/11/2011 for the course MBA 721 taught by Professor Prof.demerath during the Fall '10 term at Franklin.

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