All About Financial Management in Nonprofits

Author: Carter McNamara, Authenticity Consulting - on Free Management Library

This is an extensive introduction to financial management for those new to leading organizations and nonprofits (or those who want a refresher course). New nonprofit leaders and managers have to develop at least basic skills in financial management. Basic skills in financial management start in the critical areas of cash management and bookkeeping, which should be done according to certain financial controls to ensure integrity in the bookkeeping process. New leaders and managers should soon go on to learn how to generate financial statements (from bookkeeping journals) and analyze those statements to really understand the financial condition of the business. Financial analysis shows the "reality" of the situation of a business -- seen as such, financial management is one of the most important practices in management. This topic will help you understand basic practices in financial management, and build the basic systems and practices needed in a healthy business.

Links:

• Financial Management in Nonprofits (website) - http://managementhelp.org/finance/np_fnce/np_fnce.htm

Submitted by Scott Nine on: Friday, February 04, 2011 - 8:56 am

Tags for this entry:
leadership, organizational development