[Finance] Thoughts and suggestions related to our last meeting

Mike Johnson mdjohnson2112 at gmail.com
Mon Nov 6 17:30:28 CST 2017


I'll get some examples sent out I promise!  Been swamped the past few weeks.

On Mon, Oct 30, 2017 at 8:03 PM, Mazelle Attiya <treasurer at sca.org> wrote:

> Yes please send some examples. I am definitely open to suggestions.
>
>
>
> Mazelle Attiya
>
> Corporate Treasurer
> Society For Creative Anachronism, Inc
>
>
>
> -----Original Message-----
> From: "Mike Johnson" <mdjohnson2112 at gmail.com>
> Sent: Sunday, October 29, 2017 5:55pm
> To: finance at sca.org
> Subject: [Finance] Thoughts and suggestions related to our last meeting
>
> Hi everyone, after giving it some thought I'd like to suggest some changes
> to how financial data is reported to the BOD.  Note that I think the
> reports currently being prepared should still be created.
> Based on what I have seen so far it appears that the reports being used
> are driven primarily by accounting conventions that can seem arcane or
> incomprehensible to nonfinancial people.  They do serve a critical purpose
> in any reporting arrangement by providing the detail necesssary to make a
> deep dive into financial activity.  However I submit that for the BOD it
> would be useful to have a more summarized view as well.
> Basically I'm talking about management reporting here.  We've got a solid
> foundation of accounting reports, but for those that do not use the data
> every day it can be difficult to separate out the most important
> information when staring at a detailed ledger.  I propose the primary
> report the BOD should see is one that summarizes the 3-5 key financial
> issues, then the detail would be available in case anyone wanted to see
> it.  This should be done both for actual/historical results and for
> forward-looking forecasts.
> I can send out some examples using some reports from my work, but does the
> concept make sense?  And if it does, we need to consider who would be
> responsible for creating these reports (it would definitely require more
> work).
> Thanks everyone, looking forward to your feedback!
> Mike Johnson
>
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