Are charity accounts really so different from other entity accounts? What can the commercial sector can learn from the 3rd sector and vice versa?
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This presentation will look at how a charity is set up, the governance structure– how its responsibilities differ from a commercial entity and how the resources are managed and reported on.
Firstly, Rachel will focus on the structure of a charity and the governance arrangements and touch on the purpose of charities. Rachel will briefly touch upon accounting polices and the differences in the statutory accounts.
Rachel will then detail how a charity is funded and who it is accountable to and will then look at how the resources of a charity are managed and how it isn’t all that different to the commercial sector.
Finally Rachel will discuss how professionals can get involved with charities – both from a career perspective and as a volunteer.
Rachel qualified as a chartered accountant in an accountancy firm in London performing audits on various types of companies from large insurance companies to charities. Rachel then became the financial accountant for Macmillan Cancer Support before moving to the University of Edinburgh to take on a more commercial role managing the finances of the building projects across the university.
Combined financial accounting and third sector knowledge with commercial acumen to get the role as Director of Finance at CHSS in March 2020. Lots of crisis management during the pandemic, managing cash flow, furlough, business support grants, management reporting and systems and process development.
Rachel's career focus has been the 3rd sector as she loves the feeling of making a difference while using her financial background to help charities operate with the efficiencies of a more corporate environment. She wants to inspire other young people – particularly women, to realise they can have it all.
Rachel works full time (in 4 days) as a Finance director with all the demands that includes but she also has a 3 year old and spends lots of her spare time either with her, friends or running and biking in the hills.
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Start time - 5.30pm
End time - 6.30pm