It does not matter if you are a multi-billion corporation or a small non-profit. Money is passing through your organization. Without, everything comes to a screeching stop. Board members of any organization should be fluent in financial language. Learning how to read a balance sheet and income statement is as vital as memorizing the mission goals of the organization. No visioning session should be without a fiscal impact study and strategy. Mission and money are two sides of the same coin.
Meeting with clients my emphases is to teach basic financial concepts. Understanding the Balance Sheet or reading an Income Statement are vital to any entrepreneur. The impact of a Statement of Cash Flow and the predictions of future cash flows will allow the decision makers to time growth with flow. Not considering aspects of administration and finance removes the skeleton keeping your organization going.
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