For the Royal Shakespeare Company I designed a finance for non-finance staff training programme that was rolled out to the whole organisation.
I was working as a Management Accountant responsible for working several departments. One department in particular had several projects underway and others in development that involved receiving income from donors as well as offering courses to third parties on a potentially commercial basis. The challenges faced by the department included:
- how best to set up project finances including account code analysis to facilitate donor reporting
- how to price courses and
- specific understanding about how the RSC finances operated including terminology and how to get things done with the Finance team.
I carried out a finance training needs analysis for the department using the following methods:
- In a participative meeting with all members of the department, I conducted a PESTLE analysis (political, economic, social, technological, legal and environmental aspects) and SOFT analysis of the finance set up (satisfactory, opportunities, faults and threats)
- I did one to one interviews with each member of the department to establish their level of financial skills and understanding.
I wrote all findings up into a report including recommendations for improving the department’s financial management.
As part of the recommendations, I implemented a finance for non-finance staff training course which took the form of a half morning group presentation and case study exercises. The course included:
- Information about RSC General Accounting including:
- Account Codes
- Methods of paying for purchases:
- Petty cash
- Corporate Credit Card
- Purchase order and invoice
- Paying invoices
- Raising invoices
- Accruals Accounting – Accruals and prepayments
In addition to general information about:
- Management Accounts
- Funding and the Grant Application process
If you would like to find out more about how I provide accountancy services for arts organisations then please contact me for a no-obligation chat.