About Pamela E. Forsyth

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So far Pamela E. Forsyth has created 18 blog entries.

Reading Association Financial Statements

By |2021-03-25T14:26:20-05:00March 25th, 2021|

Our team is often asked to help volunteer association leaders understand their organization’s financial statements. We put together this handy guide to help association volunteers. Learn about basic terminology, board responsibilities and more in the below attachment. Read our guide now!

What are the Financial Responsibilities of an Association Board?

By |2021-03-25T13:33:12-05:00March 25th, 2021|

So, you have volunteered to become an association board leader, but what responsibilities does this position entail? Specifically, overseeing the financials can be a barrier to a fully engaged board. Some may feel uncomfortable reviewing financial information and providing the required oversight to the financial affairs of an association. [...]

Managing Cash Flow During Crisis

By |2020-12-03T15:56:40-06:00December 3rd, 2020|

Cash flow is an important concept for association staff, volunteers, and leaders to understand especially for small or medium sized associations. A previous article I wrote discusses what cash flow is and how it differs from profit on an income statement. It also includes some ideas to improve cash [...]

Association Ethics for Staff and Volunteers

By |2020-10-27T15:15:35-05:00September 17th, 2020|

Ethical behaviour means acting in ways that are consistent with behaviours that society, individuals, and businesses have deemed to be “proper” or “correct.” Good values involve demonstrating respect for key moral principles that include honesty, fairness, equality, dignity, diversity, and individual rights[1]. The most important influence on ethical values [...]

Financial Tips for Managing an Association’s Money During a Crisis

By |2020-10-21T15:51:46-05:00May 21st, 2020|

These are unprecedented times that most of us we are living in right now. With the COVID-19 pandemic, financial hardship is undoubtedly a concern for many associations. I have put together a few tips to make sure your association are doing all it can do to manage finances in [...]

How to Make an Effective Association Budget

By |2020-10-29T16:18:37-05:00January 30th, 2020|

It’s no secret that budgeting is a vital part of running a successful association. Often it can seem like an overwhelming task, but it doesn’t need to be complicated. With effective budgeting, you will be able to ensure your association is set up for long term viability by focusing [...]

How to Know When Your Association Needs Help from a Professional Accountant

By |2020-11-18T15:53:33-06:00October 17th, 2019|

There are many challenges in managing an association. Especially a small one that doesn't have endless resources or a need for numerous full-time staff members. For a small association in particular, the accounting most likely does not require the work of a full-time accountant. However, it's still important to [...]

Boost Your Association’s Financial Knowledge

By |2020-10-21T15:15:50-05:00July 18th, 2019|

One of the things I have noticed in my experience as an accounting manager is that when it comes to association finances, in many cases the only people familiar with them are the finance staff and board members. Most of the time this is because that is how it’s [...]

Is Your Association Set Up to Prevent Fraud?

By |2020-10-14T15:57:12-05:00March 13th, 2019|

It’s no secret that fraud is a large risk to any organization. There are numerous ways fraudulent activity could take place in an accounting system and it’s important to understand your risk factors and to take into consideration several things to prevent fraud in an association. Smaller associations are [...]

Understanding Accounting to Better Manage Your Association

By |2020-10-21T15:19:08-05:00December 13th, 2018|

As an accountant working with associations, one question I’ve been asked is, “What is the difference between management accounting and financial accounting?” These are two distinctly different areas of accounting, and if you didn’t study accounting, this is probably something you were not aware of. Up until 2016, these [...]

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