by Suzanne Bakker | Oct 27, 2023 | building trust, finance management, finance systems, financial controls, project finance | Finance Management
“Ahhhhh no, do we really NEED this?” This is usually how someone asks me the question: Why are financial controls important for nonprofit organizations? What’s the problem? The reason why I often hear desperate ‘ahhhhhhhs’ is that most nonprofits are small. So most of...
by Suzanne Bakker | Aug 26, 2023 | project finance, project grant, project management, unearmarked income | Finance Management
You can go bankrupt even if you have project money if you make a mistake with how you spend your money. Spending outside the project budget For instance, if you are spending money on services and goods that are not part of the budget. Or if you are overspending...
by Suzanne Bakker | Feb 16, 2020 | finance management, project finance | Finance Management
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...
by Suzanne Bakker | Jan 12, 2020 | annual accounts report, expenses, finance management, income, project finance, year-end accounts report | Annual Reporting
Sure, we are mid-January now, but if you are working in finance it is very likely that you are focused on the year end of the past year. Checking your expenses, your revenues, your balance accounts, your bank statements and so forth. And together with your project...
by Suzanne Bakker | Nov 24, 2019 | accounting, expenses, finance management, project finance | Finance Management
What is an expense in accounting? What kind of question is that?????? Read on and you will understand the question and why it is relevant. I promise! My motto is Finance is for Everyone and I stand by it always. With this I mean to say that everyone in your...
