Non-Profit

Why Board Members Need to Understand Accounts Receivable

Why Board Members Need to Understand Accounts Receivable

All board members, including those involved with non-profit organizations, are held to a minimum standard of care and diligence when it comes to the finances of an organization. This is why, at a minimum, it is important for a non-accountant to understand what “accounts receivable” are on an internal financial statement. Check out our other articles on Financial Literacy.

The Importance for Board Members to Understand Financial Statements

The Importance for Board Members to Understand Financial Statements

Board members are often bored during the financial discussion or financial statement presentation at a meeting. If they are lucky, they have someone with a financial background as a treasurer or chair of the finance committee. This article addresses how the financial process of your organization should operate and how it impacts you because you share the responsibilities for ensuring that proper financial controls are in place.

Tax Effective Method of Donating Stock

Tax Effective Method of Donating Stock

If you are planning to make a significant donation to a Canadian registered charity in 2016, you might want to consider stocks. Donating stocks can be a tax efficient way to make a contribution, provided that you keep the following considerations in mind.

Board Policies and Governance Framework Planning for Non-Profits – An Accountant’s Perspective

Board Policies and Governance Framework Planning for Non-Profits – An Accountant’s Perspective

The Board is responsible for everything an organization does. It sets the policies and procedures, in conjunction with management, that establish and monitor the long-term direction of the organization. Boards ensure the proper stewardship of the organization’s assets. They monitor the organization’s operations, and they establish and ensure adherence to the organization’s principles, with a particular emphasis on its objects or purposes.