Financial Management

What you need to know

Financial management is key to your organisational sustainability, encompassing all activities which have a financial impact.

It provides direction, determines and clarifies accountability, evaluates resources and delivers information that can be used in planning, assessing impact and reporting. It also allows your organisation to identify legal obligations through implementing good practice in accounting for finances.

Financial Management will impact on the decisions you make and should be integrated into all aspects of your organisation’s operations, from managing project budgets to gathering information for strategic decision-making.

FAQ: search by topic

Each topic area provides detailed information covering basic definitions and concepts, FAQs and practical resources to help your organisation: 

Financial strategy

Planning strategically and holistically to effectively manage your financial resources. Discover how to stay on mission through planning and monitoring your performance. Financial strategy.

Budgeting

Why budget and how to do it. Learn how to identify and control potential problems before they spiral out of control. Budgeting.

Accounting

Understanding your financial statements and preparing accounts. Compare the different models, tools and frameworks available and undertake an organisational “health check”. Accounting.

Audit

What to expect from an internal or external audit. Read and tailor a model terms of reference for an audit committee. Audit.

Full cost recovery

Learn more about the background and types of overhead costs. Discover a template to understand and calculate your full costs of projects, activities or services. Full cost recovery.

Managing financial resources

Getting the most from the resources you have. Learn how to implement, manage and evaluate procedures to maximise your performance. Managing financial resources.

Investment

Be aware of the options and methods available to manage your reserves. View a sample investment policy to compare and/or adapt. Investment.

Risk

Minimise financial risk and maximise your opportunities. Read a case study about implementing risk management. Risk.

Tax

An introduction of the main issues surrounding the sector and taxation. Read about the different types of donor relief and the necessary requirements to ensure your success. Tax.

Resources

• The Community Accountancy National Network (CANN) a variety of financial management services and support close to home.
• Model job descriptions - Accountant, Internal Auditor, Finance Director, Treasurer, Financial Management Advisor.  
  
• External support – other organisations that provide financial management information.
  
• Discount finance resources - special deals for voluntary organisations on a range of financial products and services.

Publications

View our range of financial management publications.

Discover the benefits and challenges that other organisations have faced - read our case studies. 

Contact us

More questions? Contact the free NCVO HelpDesk:

NCVO HelpDesk telephone: 0800 2 798 798 or email: helpdesk@askncvo.org.uk 
Sustainable Funding Project: www.ncvo-vol.org.uk/sfp

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