Financial management in the voluntary sector: new challenges
"This work focuses on the distinctive aspects of financially managing the voluntary organization. While there are many similarities to the management of the private sector, in particular, financial management of small businesses, this book identifies and explains the specialist aspects of chari...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
London [u.a.]
Routledge
2002
|
| Edition: | 1. publ. |
| Series: | Routledge studies in the management of voluntary and non-profit organizations
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Summary: | "This work focuses on the distinctive aspects of financially managing the voluntary organization. While there are many similarities to the management of the private sector, in particular, financial management of small businesses, this book identifies and explains the specialist aspects of charity finance."--BOOK JACKET. |
| Physical Description: | XV, 304 S. graph. Darst. |
| ISBN: | 0415221595 0415221609 |
Staff View
MARC
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Record in the Search Index
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|---|---|
| adam_text | Contents
The authors xi
Preface xiii
Acknowledgements xvi
1 Voluntary sector environment definitions, history 1
Introduction 1
The issue of definition 3
The legal definition 4
Alternative definitions 6
Are there distinct sectors? 10
Religious influences 14
The State and charity 16
The Conservative Government 1979—1997 23
New Labour 25
Conclusion 27
2 Management issues 28
Governance 28
The Charity Commission and charity trusteeship 29
Charity organizations and governance 31
The role of the charity secretary 34
The financial management role of the Management Committee 34
Internal auditing 36
The planning process 39
Programme and organizational resource assessment 43
Case study 43
Providing information 46
Sources of information 48
Case study I role play managing a financial crisis 5 0
viii Contents
3 Charity accounts — the background 56
Introduction 56
Developments leading to the Charities Acts 1992 and 1993 58
Charities Acts 1992 and 1993 59
Statement of Recommended Practice (SORP) — accounting by charities 60
Review of SORP 64
Charity Commission SORP consultation 65
Charity Commission aim 68
Research on charity accounts and SORP compliance 70
4 Published accounting standards 76
Introduction 76
Stakeholder reporting 76
Accounting for smaller charities 78
Evaluation of the Statement of Financial Activities (SOFA) 82
Statement of Financial Activities — example 85
Balance sheet 86
Cashflow statement 89
Disclosure of accounting policies and notes to the accounts 92
Summary financial information and statements 95
SORP exercise 96
5 Issues in charity accounting 102
Introduction 102
Fund accounting 102
Incoming resources 105
Expenditure 109
Trading — operating activities 112
Branches 114
6 Regulatory framework and audit requirements 118
Regulatory framework 118
The charity audit some important aspects 121
Independent examination 133
Trustees annual report 135
7 Management accounting 139
Introduction 139
Cost accounting 139
Contents ix
Example 144
Break even analysis 144
Budgeting 145
Fixed versus flexible budgetary control — a worked example 153
Communicating and computerizing financial information 155
Costing volunteering 155
Conclusion 151
Illustrative exercises 151
8 Performance evaluation for voluntary organizations 166
Introduction 166
Best Value 168
Maximizing income 169
Income sources and risk 110
Maximizing resources — strategic options 111
Cash flow planning 112
The importance of planning 112
Investment planning 113
Restricted funding and overhead costs 115
Funds and reserves 116
Case study — St Dunstan s 111
Performance monitoring 118
Aims, inputs, outputs and outcomes 118
Ratio analysis 119
Exercise 180
Limitations of ratio analysis — administration and fund raising
costs 183
Project appraisal techniques 184
Discounted cash flow 186
Allowing for risk 186
Cost benefit analysis and limitations ofDCF applied to the voluntary
sector 181
Social accounting and audit 189
Conclusion 191
Exercises 192
Appendix discounted cashflow (DCF) tables 194
9 Banking and investment 196
Introduction 196
Reserves — the legal questions 196
x Contents
Reserves — a case study — Cancer Research Campaign (CRC) 201
Reserves — trustees report 207
Investments 208
Choosing an investment manager 212
Fraud— the urgent case for investor protection 214
Exercise responsibility and the New Trustees Act 2000 219
10 Charity tax 222
Introduction 222
The main exemptions — income, gains and inheritance tax 222
Trading activities 221
Giving to charity 231
Benefits 234
Record keeping 235
Audit 235
Reclaims 236
Marketing 236
The charity as an employer 242
Value Added Tax 242
One off fund raising events 245
Donated goods 248
Advertising 249
Property 251
Conclusion 256
11 Future directions 257
Regulation and the Charity Commission 25 7
Charity trusteeship and organizational accountability 258
Professionalism and human resources 258
SORP and auditors 258
Performance making the most from cash and banking services 259
New equity finance — trusts or borrowing 261
Mergers and co operation 262
Smaller voluntary organizations 262
The wider environment — into the twenty first century or back to the
nineteenth? 263
Appendix 261
Bibliography 294
Index 302
|
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| series2 | Routledge studies in the management of voluntary and non-profit organizations |
| spelling | Palmer, Paul Verfasser aut Financial management in the voluntary sector new challenges Paul Palmer and Adrian Randall 1. publ. London [u.a.] Routledge 2002 XV, 304 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Routledge studies in the management of voluntary and non-profit organizations "This work focuses on the distinctive aspects of financially managing the voluntary organization. While there are many similarities to the management of the private sector, in particular, financial management of small businesses, this book identifies and explains the specialist aspects of charity finance."--BOOK JACKET. Nonprofit organizations Accounting Nonprofit organizations Accounting Case studies Nonprofit organizations Finance Nonprofit organizations Finance Case studies Finanzierung (DE-588)4017182-6 gnd rswk-swf Nonprofit-Organisation (DE-588)4293729-2 gnd rswk-swf (DE-588)4522595-3 Fallstudiensammlung gnd-content Nonprofit-Organisation (DE-588)4293729-2 s Finanzierung (DE-588)4017182-6 s DE-604 Randall, Adrian Verfasser aut HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009888513&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Palmer, Paul Randall, Adrian Financial management in the voluntary sector new challenges Nonprofit organizations Accounting Nonprofit organizations Accounting Case studies Nonprofit organizations Finance Nonprofit organizations Finance Case studies Finanzierung (DE-588)4017182-6 gnd Nonprofit-Organisation (DE-588)4293729-2 gnd |
| subject_GND | (DE-588)4017182-6 (DE-588)4293729-2 (DE-588)4522595-3 |
| title | Financial management in the voluntary sector new challenges |
| title_auth | Financial management in the voluntary sector new challenges |
| title_exact_search | Financial management in the voluntary sector new challenges |
| title_full | Financial management in the voluntary sector new challenges Paul Palmer and Adrian Randall |
| title_fullStr | Financial management in the voluntary sector new challenges Paul Palmer and Adrian Randall |
| title_full_unstemmed | Financial management in the voluntary sector new challenges Paul Palmer and Adrian Randall |
| title_short | Financial management in the voluntary sector |
| title_sort | financial management in the voluntary sector new challenges |
| title_sub | new challenges |
| topic | Nonprofit organizations Accounting Nonprofit organizations Accounting Case studies Nonprofit organizations Finance Nonprofit organizations Finance Case studies Finanzierung (DE-588)4017182-6 gnd Nonprofit-Organisation (DE-588)4293729-2 gnd |
| topic_facet | Nonprofit organizations Accounting Nonprofit organizations Accounting Case studies Nonprofit organizations Finance Nonprofit organizations Finance Case studies Finanzierung Nonprofit-Organisation Fallstudiensammlung |
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