As part of the Rozsa Foundations’ ongoing commitment to supporting Alberta arts leaders, this Intersections session (part of the Rozsa Foundations of Arts Leadership program) is being made available to arts leaders outside of the program.
Under the leadership of Dr. Peggy Hedges of the Haskayne School of Business, the session will explore some of the essential elements of financial reporting, cash flow, forecasting, and budgeting that often challenges not-for-profit organizations. It will spend time navigating and analyzing financial statements to gain a further appreciation for how the priorities and characteristics of organizations, along with decisions, can impact these statements and financial forecasting. The session will investigate the similarities of financial forecasting in the budgeting and grant application processes.
By the end of this session participants will be able to:
* Identify essential elements of financial reporting, cash flow, forecasting and budgeting
* Calculate and interpret a few financial ratios that can be used to provide insights into areas which need further analysis
* Perform a basic break-even analysis to support a strategic decision
