Accountability and Reporting

Accountability and Reporting

In the past weeks I have written about looking back on what you have done and achieved and about planning your next year. This time I want to look back again, at your finances. Specifically, at the different aspects of accountability and reporting. Accountability? As...
Report of the Board

Report of the Board

Your annual accounts report is not complete without a report of the board. The annual accounts report must contain more than just numbers or short explanations of these numbers as you share in the notes. The report needs to include a narrative that provides more...
Reserves and Funds

Reserves and Funds

The balance sheet of your annual accounts report includes a section called ‘reserves & funds’, if you have any organizational capital at all (negative or positive). For continuity of the organization it is needed to have reserves, even though as not-for-profit it...
How to Handle Tangible Fixed Assets?

How to Handle Tangible Fixed Assets?

If you buy equipment that costs more than a certain amount, this equipment becomes a so-called tangible fixed asset on the balance sheet of your annual accounts report. Maybe you wonder what that means and why it might be important? Equipment on your balance sheet The...