Communicating Financial Information to Nonfinancial People
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Transcript of Communicating Financial Information to Nonfinancial People
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Communicating Financial Information to Nonfinancial PeopleAGFOA April, 2012
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OverviewKnow your audienceKnow your stuffClear and conciseVisualsPresentation
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Know Your AudienceReaders?Listeners?Visual?Detail?
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Readers…Information in
advanceExecutive
summaryComplement…Example –
quarterly financial report
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Tailor to Your AudienceKnow what is
importantOrganize the
informationTrends and
outliers
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What is Important?
2009 2010 2011 20120
0.5
1
1.5
2
2.5
3
3.5
4 Is the decrease in 2012 a problem?
Was 2011 an anomaly
It matters…
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Set the StageEstablish
credibilityStart on timeEnd on time
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The MessageClearConsistentAnglesBrief
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Say What?The increase in
net assets is down from last year.
Anything about arbitrage!
What is an audit?
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TerminologyBucketsInternal controlsFund balanceSpending
authorityExceptions The “F” word
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Presenting the InformationBe accurateBe preparedThe “right”
amount of information
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Audit Plan
Planning
• Internal Controls• Risk Assessment
Fieldwork
• SAMPLING• Analysis
Reporting
• Review• Findings• Presentation
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Sampling
Population
• Define• Docume
nt
Sample • Size• Representative
Evaluate
• Exceptions• Projection• Conclusion
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Focus on…
Personal Services
Materials & Services
Capital Other0
0.51
1.52
2.53
3.54
4.55
2013 Budget
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Presentation SkillsVisual aidsPositioningRoom setupPropsEngage the
audience if appropriate