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Internal Controls Policy Tips

Posted By Erica Crenshaw, Execute Now!, Monday, October 17, 2011
Updated: Monday, November 7, 2011

How often should you review your organization's internal controls policy?

Annually!

Why? We should do so for the following reasons:

  1. Following organizational changes, such as a new E.D. hire
  2. Following a restructuring of organizational programs
  3. When there's an increase in revenue or additional monthly transactions
  4. Whenever you gain new contracts or grants that have more stringent requirements
Remember, the nonprofit's President or CEO has a responsibility to implement, follow and regularly test her or his organization's internal controls.

Also note: A Policy and Procedures Manual should outline the internal controls of the organization; and the relevant parties should be trained on those controls and procedures on an annual basis as well.

 


For more tips on nonprofit financial management, please keep in touch with Execute Now! on Facebook, on Twitter @executenow, and through the LANO website at our member profile.

Tags:  accounting  bookkeeping  controller  Execute Now!  finance  louisiana  member services  non-profits 

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A+PEL is the Insurance Network for Professional Educators

Posted By Erica Crenshaw, Execute Now!, Wednesday, October 12, 2011
Updated: Wednesday, October 12, 2011
LANO member, The Associated Professional Educators of Louisiana (A+PEL) is the premier educators' organization in Louisiana. They provide liability insurance coverage, a legal advisory network, governmental affairs representation, professional development opportunities, and scholarships and grants. To learn more about their services, please visit http://www.apeleducators.org/.

Execute Now! is client-focused and mission-driven!  Please keep in touch with Execute Now! on Facebook, on Twitter @executenow, and through the LANO website at our member profile.


Tags:  accounting  accounting bookkeeping controller Execute Now!   bookkeeping  controller  Execute Now!  finance  louisiana member  non-profits  services 

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What is Financial Leadership?

Posted By Erica Crenshaw, Execute Now!, Monday, October 10, 2011
Updated: Monday, October 10, 2011
Financial leadership is making nonprofits aware of problems before they exist. It’s not good enough to provide accurate bookkeeping and report issues as they emerge. 

Financial leadership requires forward-looking analysis to imagine creative ways to fund growth and develop strategies to address challenges before they manifest.  

Our goal at Execute Now! is to ensure our clients' financial well-being through prudent fiscal management and forward-thinking leadership. 

Execute Now! is client-focused and mission-driven!  Please keep in touch with Execute Now! on Facebook, on Twitter @executenow, and through the LANO website at our member profile.

Tags:  accounting  bookkeeping  controller  Execute Now!  finance  louisiana  member services  non-profits 

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Introducing FAQ Fridays from Execute Now!

Posted By Erica Crenshaw, Execute Now!, Friday, October 7, 2011
Updated: Friday, October 7, 2011
"FAQ Fridays": What is one reason to establish a finance team?

ANSWER: Proper Financial Controls. A finance team provides stability to an important function in all organizations. It also helps the company establish a strong financial foundation through implementing strong internal controls. 

This foundation should ideally be established before an organization launches. It is important that a handbook be created and employees are trained before the company begins generating revenue. 

CEOs and other executives with financial responsibilities should be trained on these controls. It is easier for fraud to take place and potential audit issues to arise when only one person is responsible for controlling the inflows and outflows of funds that are reported on financial reports that same person creates.
 

Please keep in touch with Execute Now! on Facebook. And be sure to follow us on Twitter @executenow.




Tags:  accounting  bookkeeping  controller  Execute Now!  finance  lano  louisiana  member services  non-profits 

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Company Spotlight: LANO

Posted By Erica Crenshaw, Execute Now!, Wednesday, October 5, 2011
Updated: Tuesday, October 11, 2011
"Mid-Week Wednesdays": Execute Now! extends its business online by spotlighting non-profits and private companies. This week we would like to shine a light on the Louisiana Association of Nonprofit Organizations (LANO).

LANO is a statewide member organization that advocates for the nonprofit community and strengthens the effectiveness of those committed to improving Louisiana. Their mission is to be Louisiana’s "go-to” source for:
  • High quality information, tools, resources and member benefits that deepen the impact of Louisiana nonprofits.
  • Engaging network—both virtual and physical—convening year round to leverage the shared identity and resources of Louisiana’s nonprofits and stakeholders.
  • Written and spoken voice of advocacy for and about Louisiana’s nonprofit sector.
Please keep in touch with Execute Now! us on Facebook. And be sure to follow us on Twitter @executenow.

Tags:  accounting  bookkeeping  controller  Execute Now!  finance  financial management  lano  louisiana  member services  non-profits 

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Monday Messages from Execute Now!

Posted By Erica Crenshaw, Execute Now!, Monday, October 3, 2011
LANO member and benefit provider Execute Now! offers tips each Monday that will help you plan and execute an exceptional financial plan for your organization... [see LANO's member benefit section for exclusive discounts offered by Execute Now!]

One Reason to Establish a Finance Team: Proper Financial Controls.

A finance team provides stability to an important function in all organizations. It also helps the company establish a strong financial foundation through implementing strong internal controls.

[Read More at Execute Now!'s Member Blog]

For more information, please visit: http://www.executenow.com/

Tags:  accounting  bookkeeping  controller  Execute Now!  finance  member services 

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Financial Services Provider Wants to Connect

Posted By Erica Crenshaw, Execute Now!, Thursday, September 29, 2011
LANO's member nonprofits expressed a desire for quality finance and accounting services at a discounted price through their membership. We heard you!

LANO's new member benefit provider Execute Now! (see our member profile!) invites you to become a fan of our Facebook page and to follow us on Twitter and Linked In, as well as connect with us through your LANO member profile.

Execute Now! helps LANO members fulfill their missions by implementing the same solid financial systems used in prosperous businesses.

We'll make every effort to help you understand the financial drivers of your business, learn how to stretch your dollars, thwart financial pitfalls, and get your questions answered.

For more information, please visit the following link: http://t.co/rpFIOqMQ

Tags:  Execute Now! 

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