(11) Understanding School Finances (The Amba Hotel Marble Arch, London, Thursday 8 November 2018)

This course is for:
Heads and members of Senior Leadership Teams in HMC and other independent schools.
Course Objectives:
By the end of the course delegates will have:
- Gained an understanding of charity accounts
- Learned the basics of management accounting and have an insight into what questions to ask
- Understood the importance of accurate budgeting, cash flows and forecasting
- Learned some of the key terms used in financial management
- Discussed financial challenges facing independent schools

Description

 

09:45 - 10:15

Arrival, registration and coffee

10:15 – 10:20

Welcome and introductions

Nicholas Grenfell-Marten, former Chairman, ISBA

10:20 – 10:40

Session 1: Understanding School Finances – an Introduction

10:40 – 12:30

Session 2: School Accounts

(a)         Management Accounts

(b)         Budget setting

(c)         Cash Flow forecasts

(d)         Statutory Accounts

(e)         Other financial issues

(f)         Important terminology

12.30 – 12:45

Session 3: The role of The Independent Schools’ Bursars Association (ISBA)

12:45 – 13:00

Review of the morning session

13.00 - 13.45

Lunch

13.45 – 15:15

Session 4:  School Finances – Practical exercises & discussion

15.15 – 15.45

Questions, Tea and Depart