Volume 1: Accounting & Financial Statement Preparation
Finance for the Arts in Canada
by Heather Clara Young
Finance for the Arts in Canada, 2nd edition, is a unique Canadian reference guide, self-study resource and textbook for the accounting and financial management functions in not-for-profit cultural organizations.
Volume 2: Financial Management
This outstanding book delivers excellent instructional value in clear language. Young’s comprehensive approach to the technical aspects of cultural management yields an indispensable resource for anyone concerned with the financial success of their organization.
Volume 1: Accounting & Financial Statement Preparation covers the technical essentials. Volume 2: Financial Management (appearing Spring 2024) addresses planning and decision-making processes contributing to sound financial management.
What makes Finance for the Arts in Canada so important?
It wouldn’t take long to create a list of culturally significant endeavours that foundered for financial reasons – or culturally “meh” endeavours that nonetheless thrived.
Artistic merit without financial savvy is a high-wire act with no safety net.
Cultural theory and creative practice may impart the heart and soul to your artistic success – but technical managerial knowledge – notably in the realm of finance – provides the spine and muscles that make your arts organization run.
You may imagine that you’ll fill the need by finding a CPA for your board and hiring a good bookkeeper. That’s a roll of the dice – and the odds aren’t with you.
Accounting and finance for not-for-profit organizations are specialized activities, and arts organizations themselves have specialized needs. The “corner CPA” or bookkeeper may not speak your language, and if you don’t speak theirs, a gap of understanding might turn into a real predicament before either of you realizes there’s a problem.
Finance for the Arts in Canada Volume 1 walks you through the basics of accounting and financial statement preparation in a friendly and accessible manner. This technical knowledge serves as the foundation on which you will build your understanding of Volume 2’s financial management concepts.
The “steak” is the sectorally-informed approach to standard professional knowledge, richly supported by real-life illustrations – and the “sizzle” is the polish and self-assurance you will add to your management practice.
Finance for the Arts in Canada, 2nd Edition is published by Iguana Books.
Finance for the Arts in Canada is an essential tool for:
General Managers and Executive Directors
Business Managers and Administrators
Accountants and Bookkeepers
Any Manager with Budget Responsibility
Artistic Directors
Treasurers
Presidents
Boards of Directors
Arts Management Instructors
Arts Management Students
Finance for the Arts in Canada features:
Straightforward, step-by-step explanations of core accounting and finance tasks
Double-entry bookkeeping
Financial statement preparation
The accounting cycle
Documentation and records-keeping
Mid-year and year-end reporting
The financial planning cycle
Practical tips and techniques for excellent financial management
Effective budget preparation
Successful financial control strategies
Sound cash management
Appropriate financial reporting methods
Healthy relationships with boards, funders, lenders and other stakeholders
Powerful analytical tools
Constructive management during deficit and surplus situations
Essential contextual information
Legal framework of not-for-profit and charitable organizations
Comparison of commercial and not-for-profit management approaches
Generally accepted accounting principles
The accompanying website – complimentary with purchase of the book – features:
Glossary containing 350+ definitions of key accounting and financial terms
Annotated list of additional readings and reference sources for each chapter
A set of end-of-chapter practice questions with answers designed to:
Test your comprehension
Test your practical skills
Refresh your arithmetic skills
