Members and guests attended AWTE’s 21 March Boardroom Ready: Understanding Finance session at Gates and Partners LLP.
We recognise that for many senior women in business, finance is an area they may find challenging or intimidating.
To help demystify accounting terminology and understand the financial aspects of a business, our panel of three experts, Nikki Spoor and Mark Caldicott from White Hart Associates LLP and Gwyn Hughes of Pinpoint Communications, shared their knowledge and expertise.
Mark gave us an overview of the headlines from the budget and summed it up by saying: “If we were to use the plays of William Shakespeare as our guide, the Tories will no doubt hope it will be a case of ‘All’s Well that Ends Well’. Labour on the other hand would say it was ‘A Comedy of Errors’. In truth, it was probably a case of ‘Much Ado about Nothing’!”
Nikki Spoor reminded us of the various types of accounting reports including those required by law.
Jo Kolatsis, partner at Gates and Partners LLP highlighted what the legal duties and obligations are in order to both safeguard your own position as well as that of the company. Jo emphasised that whilst a board position can be extremely rewarding and is an important step in anyone’s career as well as an acknowledgement of status, it should not be entered into lightly or without a full understanding of what this means for you legally.
Pinpoint chairman, Gwyn Hughes, provided insights from his own experience as both executive and non-executive board director for a number of organisations. Gwyn emphasised that financial interpretation and key performance indicators (KPIs), need to be fully appreciated, especially the significant impact on business which occurs if regular analysis is avoided.
The audience was totally engaged and absorbed. Serious questions and lively discussions followed the excellent presentations. The session ended with a light lunch kindly supplied by Gates and Partners LLP, which gave everyone an opportunity to network.