Understanding the Bottom Line: Creating Financial Awareness

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Gary Miller
33 minutes
Understanding the Bottom Line: Creating Financial Awareness presents a detailed overview of how staff can use business financial statements to increase the effectiveness and the efficiency of their organization. The need to become more businesslike in the traditional, not-for-profit environment is dictated by the increasing level of accountability in higher education. While budgeting is not the only factor included in a business atmosphere, it is one of the most important points of consideration. Proper understanding of budgeting enables individuals to better position their programs to react to the internal and external factors that may determine their organization's ultimate level of success or failure.

Among the topics covered:
  • Myths of non-profit organizations
  • How the bottom line affects the organization
  • Taking action
  • Financial statement
  • Pro forma statement
  • M.A.P.S.
  • Types of budgets