Filtered by: Financial Management <Back to previous page Basic bookkeeping a practical exampleby Alan Knott. In simple terms the main reasons for book-keeping are: to keep records of income (money coming in) and expenditure (money spent) so that the profit or loss during a period of time can be easily worked out Bible study: Our attitude to moneyOur attitude to money We read in Matthew 6:19-21 the words of Jesus; ‘Do not store up for yourselves treasures on earth… but store up for yourselves treasures in heaven. For where your treasure is, there your heart will be also.’ Bible study: Our attitude towards moneyOur attitude towards money. God has created and provided us with everything we have, therefore we have a responsibility to look after the resources he has given us. What we have should be viewed as a gift from God and not as something that we have a right to. Acommon worldview is that having wealth is important. However, riches and blessing are not necessarily linked. Many people in the Bible who served God faithfully and were blessed by him were materially poor. C9 The role of TreasurerA Treasurer may have many roles. They need to be: trustworthy able to keep careful records of all money paid in – as contributions, fees or sale of… C9 The role of TreasurerA Treasurer may have many roles. He or she needs to be: trustworthy able to keep careful records of all money paid in – as contributions, fees or… Cambodian savings banksby Craig Greenfield. For the poorest people in Cambodia, life is full of uncertainty. They typically have several possible sources of income. On a good day they will make enough to feed the family. Other days they go hungry or may be forced to take out expensive loans to pay for emergencies, particularly medical problems. Does money matterby Keith Tondeur. Managing money is never easy. Families on low or uncertain incomes often struggle to cope with payments such as school fees or healthcare. We often live in societies where articles and advertisements on the radio and TV, or in newspapers and magazines, encourage us to spend money. We are always being told how ‘good’ certain products will make us feel. Increasingly, our societies see success as the possession of wealth, rather than having a good character or serving others. ... EditorialThis issue began as one on income generating – ideas for small businesses. However as articles began to come in, it became clear that the focus instead should be on credit schemes for the poor – essential before any income generating business can begin. The articles and case studies are all shared from experience in different parts of the world, and illustrate that the poorest in society can indeed be trustworthy of credit and a most worthwhile investment. There are plenty of practical ... Financial accountabilityWhen dealing with money on behalf of others, accountability is crucial. The people given responsibility to manage the money need to be able to show that they are being good stewards of what is entrusted to them. It is important that they are protected from being tempted to use the money for their own purposes. M10 Obtaining loans from informal savings groups Groups with a well established savings system may be able to make loans available to members. When loans are made, it is usual to charge interest.… M11 Safeguards suggested for making loans Group meetings, discussion and support can be of great benefit when planning new ways of raising money. A majority of members should approve the… M12 Group security with loans Taking out loans as a group has a lot to recommend it. Each group member is responsible for making sure other members help to repay the loan. If… M16 Managing small businesses The key to success is to understand what customers want and then produce it in ways which allow a good profit to be made. Costs must be measured… M17 Controlling the quality of goods Once you begin to produce goods, it is very important to check the quality at all stages. Customers will want value for money and will not continue… M7 Keeping careful records Study this group’s records. What can you learn about the amounts they have agreed to pay in each week? What happens if members are away? How much do… M8 Opening a bank accountOnce any group begins to save money, it is important to open a bank account so that the money is kept safe from theft or loss. Two people need to… M9 Obtaining loans from money lenders When poor people without savings need money quickly, for events such as illness, family funerals or weddings, they usually turn to a local money… Managing cash flowby John Cammack. Many of us have experienced the situation where we have a bill to pay, but we do not have enough money to pay it until we receive money owed to us. As individuals, we can generally keep these details in our head, but this is not possible within a group or organisation. Mangos financial health checkMoney is essential to every organisation. All organisations or businesses have to look after their money carefully. That means using good financial management. Simple and effective Accountsby Andrew Maclay. I have worked as an accountant and auditor in many commercial and charitable organisations, ranging from multinational companies in London to tiny churches in Africa. I have seen many different systems for keeping accounts, both in the English-speaking and the French-speaking worlds. One thing I have noticed is that the accounting systems used are often more complicated than necessary. Simple Record Keepingby Alan Knott. Book-keeping is a tool that helps you to carry out other tasks to the best of your ability. It is an information system that can not only tell you what is going on with a particular project, but can also let others know what is happening. Some tips for financial sustainabilityPlanning is important for financial sustainability. Start with your organisation’s vision and aims, and then look to see how that work could be funded. Stay focused on work that uses the skills, experience and knowledge you have within the organisation. Don’t plan your work or change your aims just to get easy funding.