ACT Council of Social Service Inc.

Justice | Equity | Social Inclusion | Reconciliation

Financial Literacy for Community Board Members

Financial Literacy for Community Board Members - Westpac

You don’t need to be an accountant to understand the finer points of an organisation’s accounting. Your job is not to produce these reports but to examine and assess this material once it is provided to you. You have to understand how it’s been put together, you have to know what the jargon means, and you have to know the implications of what’s in front of you.

With a small amount of knowledge of the basic elements of accounting, you will be armed with enough information to help you feel confident to weed your way through the financial documents which form part of your responsibilities.

Hence, this Guide.

Remember, as a member of the organisation, there may be times when you are the most ‘financially literate’ person at a meeting, so having some knowledge of the applicable accounting procedures and terminology will come in very handy.