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Association Management, Creative Services, Event Management, News, Public Relations

It has been observed that new business owners and freshly-founded organizations often overlook the importance of having in-house accountants while being trapped in daily operational chaos. However, an accountant is needed for every association as they play a crucial role in various areas for running the association.

 

Financial Reporting and Cash Management

Financial reporting and analysis is a significant function that accountants provide. Accountants prepare financial statements periodically according to different groups of readers’ needs including: the Treasurer, President, members, bank, and government. They keep a clear track of all transactions, identify possible adjustments to the financial statements including note disclosures, and show highlights of the association’s financial performance. This financial analysis could pertain to specific areas that different readers might have more interest in. For example, membership renewal and new recruitment, conference and certification. The customized reporting and analysis will help the association set up a more realistic strategic plan and budget for the future.

Cash management is also an indispensable service that accountants provide. Associations need enough cash and reserves to fund the daily operations and accountants are needed to monitor the cash balance and budget for cash flow. 

 

Taxation

The Canadian Revenue Agency (CRA) and the government generally reserve the right to go back seven years to audit the association’s financials and tax filing. Therefore, it’s important for associations to keep consistent and proper bookkeeping and file the tax accurately each year on time. Missing the deadline or filing the incorrect amount could result in a future penalty and interest. Accountants protect associations from the audit risk and conduct tax planning when needed.

 

 General Governance and Control 

The accountants usually provide insights into the strategy and governance of the association. They analyze the association’s governance policies, design the internal control system and make sure the governance structure as well as the control system work effectively and are in compliance with the association’s mission, vision and regulatory. When there is lack of internal control system, inefficiencies usually arise in the association which can easily lead to a cash crisis. The accountant can help with setting up the procedure and monitoring the work flow to mitigate the risk. The effective internal control also provides extra assurance to the association’s financial health and can alleviate the burden of the annual audit.

 

Accountants usually will not only provide financial management with the association but also offer consulting services and professional recommendations. If you plan to start an association, it’s better to bring an accountant in sooner than later.  

 

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Association Management, Creative Services, Event Management, News, Public Relations


Many goals and issues of associations, private companies and corporations overlap. There is the common goal of promoting campaigns, fundraising or drawing attention to a relevant story, and on occasion, navigating a crisis. In recent years, companies and associations have looked to PR specialists to lead these initiatives. What they’re doing, in essence, is creating a jigsaw puzzle and finding the fit with your stories and the right journalist. Connecting the Pieces of the Puzzle, Changing a Challenge into an Opportunity and Completing the Puzzle are the steps that will expand your association’s voice.

Sarah Cooper brings over a decade of experience in communications (marketing, media and public relations) to Managing Matters. Her passion, dedication and strategic thinking are key for her clients reaching their goals and achieving success. Sarah has consistently secured significant editorial coverage for her clients in national print publications such as The Globe & Mail, The National Post and Azure Magazine. To read the full article online click here

This article has been featured on CSAE’s website on May 2017,



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Event Management, News

Managing Matters’ Event Coordinator Daniella Bustamante has been featured on Corporate Meetings network with her article “Booth Layout 101: Tips to make trade show booths exciting and inviting”.


“In the world of trade shows, you come across numerous companies of varying services, products, sizes and industries – you leave remembering a select few. There is a reason for this. No matter what the company, having an effective booth design makes all the difference.”

 

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Association Management, News
Toronto, ON – November 21, 2016 Managing Matters is pleased to announce that President Jenny Faucher has been named the winner of a Silver Stevie ® Award in the Female Entrepreneur of the Year – Business Services – 11 to 2,500 Employees category. Jenny Faucher shares, “I am truly honoured and humbled to have been selected as a Silver Stevie Award Winner and to be surrounded with other truly inspirational women. It’s exciting to know that our company is being recognized for the impactful work our team is doing for all our clients and the strides we are taking in raising awareness of the Association Management sector.” Read More Here
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