Chapter 17 The Financial Performance and the Strength to Continue
This chapter is about the use of financial statements as a tool of management rather than on accounting rules, ratios and procedures. The first part of the chapter discusses the basic statements and how they are used. This is followed by mock dialogues (a board meeting) illustrating how these statements can be used by the manager to evaluate its asset and debt management, its revenue, expense and cash situation. This chapter is basic to all types of nonprofits—charities and associations alike. It is definitely not about calculating ratios. Calculating is not what managers do. But they must know what story steers them in the face.
What top managers learn to do is not to calculate ...
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