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AN INTRODUCTION TO FINANCIAL MANAGEMENT FOR BOARDS PRESENTED BY OTS MANAGEMENT
AN INTRODUCTION TO FINANCIAL MANAGEMENT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
WHAT IS FINANCIAL MANAGEMENT? ,[object Object]
WHAT IS FINANCIAL MANAGEMENT? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
LEGAL RESPONSIBILITY OF BOARDS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
LEGAL RESPONSIBILITY OF BOARDS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
LEGAL RESPONSIBILITY OF BOARDS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
LEGAL RESPONSIBILITY OF BOARDS ,[object Object]
LEGAL RESPONSIBILITY OF BOARDS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
THE FINANCIAL MANAGEMENT CYCLE Ensure up to date financial records are kept Ensure Recommendations dealt with
INTERNAL CONTROLS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Profit & Loss – Income & Expenditure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Period from ? To ? Income Expenditure “ Sundry” Profit? “ Depreciation”
Balance Sheets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
On one day – 30 th  June 2007 Net worth on that day Capital Items
Case study ,[object Object],[object Object],[object Object],[object Object]
Case study ,[object Object],[object Object]
Case study ,[object Object],[object Object]
Case study ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Case study ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
At the end of the year the Accountant for ABC Corporation provides this Profit and Loss Account and on the next page the Balance Sheet. These are the year end Financial Statements she will give to the External Accountants/Auditor CASE STUDY
CASE STUDY
The external Accountant and/or Auditor translates it to look something like this ABC AUDITED FS HANDOUT CASE STUDY
WHAT HAPPENS IN AN AUDIT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
AUDITED FINANCIAL STATEMENTS ,[object Object],[object Object],[object Object],[object Object],[object Object]
WHAT DOES THE BOARD DO AFTER AN AUDIT? ,[object Object],[object Object],[object Object],[object Object],[object Object]
SUMMARY ,[object Object],[object Object],[object Object],[object Object],[object Object]

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Financial Management Training For Boards

  • 1. AN INTRODUCTION TO FINANCIAL MANAGEMENT FOR BOARDS PRESENTED BY OTS MANAGEMENT
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7.
  • 8.
  • 9.
  • 10. THE FINANCIAL MANAGEMENT CYCLE Ensure up to date financial records are kept Ensure Recommendations dealt with
  • 11.
  • 12.
  • 13. Period from ? To ? Income Expenditure “ Sundry” Profit? “ Depreciation”
  • 14.
  • 15. On one day – 30 th June 2007 Net worth on that day Capital Items
  • 16.
  • 17.
  • 18.
  • 19.
  • 20.
  • 21. At the end of the year the Accountant for ABC Corporation provides this Profit and Loss Account and on the next page the Balance Sheet. These are the year end Financial Statements she will give to the External Accountants/Auditor CASE STUDY
  • 23. The external Accountant and/or Auditor translates it to look something like this ABC AUDITED FS HANDOUT CASE STUDY
  • 24.
  • 25.
  • 26.
  • 27.