Do you know what a Balance Sheet is?
Homeschool board members don’t understand a balance sheet, so it is often ignored, but Carol Topp, the HomeschoolCPA, explains why that is a big mistake. In this short podcast she explains what a balance sheet is and what are red flags in a Balance Sheet that you should look out for.
You’ll be a better informed board member after listening to this podcast episode.
In the podcast Carol mentioned the Balance Sheet (or as she prefers to call it the Statement of Financial Position). Here is what it might look like for a homeschool organization:
Featured resource
Carol Topp, CPA has written a book just for homeschool treasurers:
Money Management in a Homeschool Organization
- Does your homeschool group manage their money well?
- Do you have a budget and know where the money is spent?
- Do you know how to prevent fraud?
This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.
Carol Topp, CPA