How to prepare a basic set of accounts

Managing your finances and preparing accounts is an essential function for any well managed community organisation. With many VCSE organisations approaching year end we ask what is a set of accounts, why are they needed and what is required to prepare a basic set of accounts.

Our guest speaker, Moragh Hunt from North West Numbers Ltd will present a practical session focussing on:

• Explaining the main reports required for financial accounts
  - balance sheet
  - profit and loss (Statement of Financial Activities) 
• Transactions included in a balance sheet
• Explanation of assets and liabilities
• Transactions included in a profit and loss (SoFA)
• Types of income
  - restricted
  - unrestricted
• Types of expenditure 
  - direct costs
  - fixed costs
• Receipts and Payments template for a set of accounts

Aimed at anyone who is looking for a basic understanding of putting a set of accounts together.

Open to voluntary, community and social enterprise organisations from within the city of Manchester (Manchester City Council boundaries)