[Finance] Thoughts and suggestions related to our last meeting

Mike Johnson mdjohnson2112 at gmail.com
Tue Nov 21 19:50:24 CST 2017


I've added a tab to the existing budget report with some of the examples I
came up with for a more summarized "executive" view

On Mon, Nov 6, 2017 at 6:30 PM, Mike Johnson <mdjohnson2112 at gmail.com>
wrote:

> 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
>>
>> _______________________________________________
>> finance mailing list
>> finance at lists.sca.org
>> http://lists.sca.org/listinfo/finance
>>
>>
>
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