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The Importance of Understanding Your Financial Reports

By Johnny Johnson

Financial reports can be intimidating for nonprofits. Many pastors and ministry leaders either don't understand the information they are given or end up not tracking their ministry's finances at all. Overwhelmed and stretched for time, these leaders spend more time with numbers instead of being around people they are called to minister to. What can an accurate financial report do for your ministry? This video will explain the importance of financial reports for your ministry.

Below are a few things we will go over:

  • Why understanding your church or ministry's financial reports is essential

  • Breaking down what is included in a Statement of Financial Position

  • What a Statement of Activity means for your ministry

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