Region 8 RPIC - Region 8 RPIC Board Trainings with WIPFLI - Part One: Decoding Financial Statements: What to Ask, What to Request, and How to Interpret
Who Should Attend: Board members, executive directors, and anyone involved in board-level financial oversight.
Cost: Free of charge
Note: Sessions will not be recorded—please plan to attend live.
Description: Understanding financial statements is essential for making informed decisions when sitting on a board of directors. This session will guide participants through the key components of financial statements, the types of reports to request, and the critical questions to ask when reviewing financial data. Designed for professionals who interact with financial information but may not have a formal accounting background, this session will demystify financial reports and empower attendees to engage confidently in financial discussions.
Learning Objectives:
1. Identify the primary financial statements (Income Statement, Balance Sheet, Cash Flow Statement) and understand their purpose.
2. Interpret key financial metrics and ratios to assess organizational performance and financial health.
3. Determine which financial reports to request based on the context (e.g., monthly performance, budget vs. actual, project-specific reports).
4. Formulate insightful questions to ask when reviewing financial statements, such as trends, variances, and assumptions.
5. Apply financial insights to support strategic decision-making and stakeholder communication.
