INTHEBLACK December 2021 - Magazine - Page 39
Lifeline Darling Downs and
South West Queensland
employs more than 300 staff,
is supported by more than
500 dedicated volunteers and
has a turnover of close to
A$23 million.
CLICK HERE
TO BORROW
Guide to CFO Success
from the CPA Library
LESSONS
LEARNED AND
BEST ADVICE
• How can you tell the story
about the financials in a way
that non-accountants can
understand? It is important
that you create a culture
where people live financials,
and you are the first port of
call when they are seeking
advice.
• An in-depth knowledge of IT
covering all aspects of the
organisation is critical, as is
good software integration
and one pool of data that
covers all aspects of the
organisation.
• When you do something,
“It is important
that you create
a culture where
people live
financials, and
you are the first
port of call
when they are
seeking advice.”
COLIN AYNSLEY FCPA
do it once. It is so important
to ensure that optimum
efficiency is achieved in
running an organisation and
that transactions in particular
do not need to be reinputted many times. Lower
operating costs mean
reserves that can go towards
your mission.
• For NFPs, it is always best
to hold some money back
to invest in infrastructure
and give you the ability to
expand or weather a storm.
Having the right treasury
model and appropriate
borrowing are critical in this
area. Also, having sound
internal and external auditing
processes is essential.
intheblack.com December 2021 39