Tips for communicating financial information to the board
Abstract: While board members typically bring a variety of talents and expertise to the table, they don’t always have extensive experience in financial and accounting matters. But they can’t properly perform their functions if they don’t obtain and understand information about the organization’s financial position. This article explains how to best communicate the essential financial information board members need. It looks at the specific kinds of information they should receive and how it can be presented in a user-friendly format. A sidebar notes that a dashboard — a one- or two-page snapshot of key metrics — may be especially useful in some instances.