In association management, particularly in the accounting department, busy seasons, tight deadlines, and constant attention to detail make time management one of the most valuable skills for accounting professionals. Whether you’re juggling reconciliations, preparing reports, or responding to last-minute requests, how you structure your day can directly affect both [...]
Associations face great expectations around transparency, governance, and financial accountability. Advances in technology, constant changes in regulatory requirements, and scrutiny from members and stakeholders mean that strong financial oversight is more important than ever. For association leaders and Boards, internal controls remain critical for protecting organizational assets, ensuring compliance, [...]
Financial literacy forms the basis for making wise decisions about money. When associations understand how money works, they are better prepared to build stable and sustainable futures. For associations, learning about key money principles not only improves their personal outcomes but also strengthens trust and long-term relationships with financial [...]
Knowing the basics of reading the numbers on a financial statement is essential to understanding the financial health of an association. Many people admit that accounting is not their area of expertise and therefore leave it to others (or the auditors) to explain what they are seeing on the [...]
As the cost of hosting association events continues to rise, association leaders find themselves navigating an intricate dance of budgeting, a task that is both challenging and essential for the vitality of our organizations. Price hikes in AV technology, catering, and travel can feel overwhelming. However, by grounding ourselves [...]
Technology has made a big difference in the world of accounting. It has changed how accountants work, made things faster, reduced mistakes, and enabled associations to make better financial decisions. Today, accounting is more than just keeping records – it’s also using technology to help associations grow and succeed. [...]
Many people view an audit/review engagement as a negative process; however, it should not be something you must fear. It can help you and your association. An audit can have many positive outcomes. An association’s board should look at it as a chance to better the organization’s financial processes [...]
Financial transparency is crucial for associations looking to build trust, enhance credibility, and foster engagement among their members. By openly sharing financial information and practices, associations can demonstrate their commitment to accountability and responsible management of resources. Here’s a closer look at why financial transparency is important for associations [...]
This article was originally published in 2016 but remains to be one of the questions I get asked most as an accountant. We thought it was an important topic to share again with some updates, as it remains ever relevant to our clients when it comes to accounting/auditing. [...]
Associations must carefully manage their finances to ensure they meet their mission-driven goals while maintaining financial stability. After all it can determine how much spending the association has annually for events, staff, marketing, and other key expenses for growth and membership value. Checking bank balances is an important [...]
