Does discussing your organization’s financial statements make you nervous? Do you head to Google more often than you’d like when preparing for a finance committee meeting? Join Thomas Kriens, CPA for a 60-minute session on understanding financial statements. We’ll walk through CSAE’s most recent financial statements as an example to help you decipher what it all means. Learn to analyze and interpret the information contained within these statements so that you can better assess the financial health of your association. We’ll clarify and demystify all the critical terms to increase your competence in this key area of association leadership so you can communicate more confidently with your staff, your board and your colleagues. This session is ideal for those who don’t have a strong finance background but is also a good refresher for those who have been reading financial statements for years.
Participants to this session will:
· Explore the items on the statement of financial position
· Gain insight into what the notes to your financial statements really mean
· Discuss basic not-for-profit accounting principles
· Learn to evaluate an organization's finances and become a better strategic decision-maker
· Discover the most common financial concerns of not-for-profit corporations
· Walk away with a helpful glossary to clarify the various terms explored throughout the session
Thomas Kriens, CPA is one of the co-founders of Kriens-LaRose LLP and brings immense expertise and business acumen in performing assurance engagements for a multitude of not-for-profit clients. After completing his undergraduate degree at Ryerson, he obtained his CA designation in 1987. Prior to co-founding Kriens-LaRose, LLP, he worked as a partner at a mid-sized CA firm. In 1991, he began to specialize specifically in assisting not-for-profit organizations with their financial reporting and operational needs, fulfilling his lifelong commitment of contributing back to the community that has supported him in his pursuit of his professional aspirations. At Kriens-LaRose, Thomas has been a driving force instrumental to the growth of the firm. Currently, his audit team provides services to over 120 not-for-profit organizations, including trade and professional organizations, community groups, charities, and condominium corporations.
Naturally, Thomas is an active volunteer in the not-for-profit area, and he has been proactive in writing educational articles, running seminars, and assisting organizations in need. He joined the Canadian Society of Association Executives in 1993 and is currently a member of its Board of Directors in the positon of Vice-Chair. In his spare time, Thomas is a staunch nature lover and proud dog owner, who enjoys taking his dogs Ardy and Jack, for long walks on the beach.