Pick up a copy of my newly published interactive, activity-based resource designed to help build confidence with charity finance terminology:: Charity Finance A–Z: A Creative Crossword & Colouring Book

Or explore the glossary-style guide: Charity Finance from A - Z

In this episode, Aishat explores what management accounts are really designed to do, why they matter for good governance, and how trustees can use them to support better decision-making. She discusses the difference between receiving information and creating understanding, the role of judgement in financial oversight, and why asking the right questions often matters more than finding the right answers.

Whether you're a trustee, CEO, finance lead, or senior manager, this episode will help you think differently about the reports in your board pack.

KEY TAKEAWAY

• Management accounts are about understanding, not just reporting
• Trustees should expect insight, context, and visibility of risk from management accounts
• The quality of the discussion matters as much as the quality of the report

BEST MOMENTS

"Management accounts are not there to tell you everything, but they should help you ask better questions. And often, in governance, the quality of our questions matters just as much as the quality of our answers."

QUESTIONS FOR TRUSTEES AND BOARDS

As you review your next set of management accounts, consider:

• Do these reports help us understand what is happening in the organisation?
• Are we focusing on the right numbers?
• What risks or trends are emerging?
• Are we receiving enough context to make informed decisions?
• Would a new trustee understand these reports?
• Are we discussing the implications of the numbers, or simply reviewing them?

ABOUT YOUR HOST

Aishat operates her own bookkeeping and accounting services practice –BAnC Services – which focuses primarily on serving non-profits. Before founding her practice, she dedicated over two decades to the non-profit sector.

With her podcast, Aishat shares practical insights and expertise to streamline financial management for non-profits, while also shining a light on the often unseen and unheard efforts that uphold the delivery of a non-profit’s mission.

She is the author of Charity Finance from A to Z“ – a practical guide designed to demystify finance for those working in the charity sector.

Work with Aishat: www.bancservices.co.uk

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