The "Know Your Numbers" workshop aims to equip VCFSE organisations with financial knowledge to understand and manage finances of a small business or community organisation.
Workshop Content:
Introduction to financial management:
· Understanding the importance of financial literacy
· Overview of key financial terms and concepts
Financial statements:
· Introduction to balance sheets, income statements, and cash flow statements
· How to read and interpret financial statements
Budgeting and forecasting:
· Basics of creating and managing budgets
· Techniques for financial forecasting and planning
Income and expenditure:
· Identifying and categorising sources of income
· Managing and tracking expenditures
Financial reporting:
· Legal requirements for financial reporting in charities and CICs
· Best practices for good governance and transparent and accurate reporting
Financial sustainability:
· Strategies for achieving financial sustainability
· Diversifying income streams and managing financial risks
Practical exercises:
· Hands-on activities to apply financial concepts
· Case studies and real-world examples
