finance for lcpes 2015
DESCRIPTION
1) WHY AS LCP/CEO I HAVE TO KNOW FINANCE 2) FINANCE REPORTING 3) WHAT SHOULD I TRACK ON FINANCE? 4) THE CORRECT USE OF FINANCE RESOURCES IN MY LC 5) MY NEXT STEPSTRANSCRIPT
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FINANCE FOR LCPES
AIESEC GUATEMALA
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KEY LEARNING POINTS OF THIS SESSION
• WHY AS LCP/CEO I HAVE TO KNOW FINANCE
• FINANCE REPORTING
• WHAT SHOULD I TRACK ON FINANCE?
• THE CORRECT USE OF FINANCE RESOURCES IN MY LC
• MY NEXT STEPS
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FINANCE FOR LCPES
WHY AS LCP/CEO I HAVE TO KNOW FINANCE
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WHY FINANCE?
BEYOND NUMBERS
GLOBAL FINANCE IDENTITY
FLB STRIVES FOR:
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SUSTAINABLE LEGAL TRANSPARENT EMPOWERED CONNECTED
TO OPERATIONS
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NEEDS
• ANALYTHICAL THINKING
• 100 % OVERVIEW
• PRESENTATION SKILLS
• LEADERSHIP
• THE FINANCER ROLE IS NOT BUYING OFFICE MATERIALS, COLLECT INVOICES OR KEEP BOOKS UP-TO-DATE
• THE FINANCER ROLE IS TO ENSURE FINANCIAL AND LEGAL SUSTAINABILITY OF YOUR ENTITIES.
• ENSURE THE RELEVANCE AND SCALABILITY OF YOUR PRODUCTS.
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YOU ARE THE "OWNERS" OF
THE SOCIAL ENTERPRISE CALLED
AIESEC
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WHY FINANCE CONNECTED TO OPERATIONS?
WE DO NOT DO FINANCE FOR IT’S OWN SAKE, WE DO IT TO ACHIEVE THE ORGANIZATIONAL GOALS.
REMEMBER: FINANCE MOS ARE MEASURED BY INCOMES OUT OF CORE PROGRAMS, NOT JUST IF
THERE IS MONEY OR NOT.
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FINANCE FOR LCPES
FINANCE REPORTING
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ACCOUNTABILITY
• FINANCIAL CONTROL PER ENTITY THE ONLY ONE ACCOUNTABLE TO MCEB (IF YOU DON’T HAVE IT, REQUEST IT TO YOUR FINANCE MANAGER/LCP TO SHARE IT WITH YOU!)
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INCOMES CONTROL
• THIS IS FILLED BY YOUR F&L MANAGER!
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AUDIT & TRANSPARENCY
• THE FINANCE CONTROL TOOL IS REVIEWED EVERY FRIDAY!
• IF THERE IS NOT CONGRUENCY BETWEEN REPORTED OR NOT REPORTED AT ALL, THE LOCAL ENTITY WILL NOT RECEIVE INCOMES.
• REMEMBER: AS THE OWNER OF THIS SOCIAL ENTERPRISE, KEEP IT
AS TRANSPARENT AS YOU WOULD LIKE IT TO BE!
– FINANCIAL REPORT (MINIMUN EACH QUARTER)
– REVISION OF PLAN ACCOUMPLISHMENT REGARDING BUDGET PLANNED AND DELIVERED (MONTHLY)
– UPDATE FINANCIAL CONTROL AND COLLECTION OF PAYMENT AND DOCUMENTS (EVERY DAY!)
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FINANCE FOR LCPES
WHAT SHOULD I TRACK ON FINANCE?
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REPORTING TOOLS FROM THE MCEB
• CASH FLOW AIESEC GUATEMALA
– EXACT COPY OF WHAT IS OUR BANK ACCOUNT AND WHERE THE MONEY IS GOING: HTTP://BIT.LY/1P2GJJF TRANSPARENCY!
• NATIONAL BUDGET AIESEC GUATEMALA: HTTP://BIT.LY/ZREDNP
• ALL FINANCIAL REPORTS FROM JUNE-SEPT: HTTP://BIT.LY/1TBMPWN
• LEGAL DOCUMENTATION AUDIT FOR LOCAL ENTITIES (FOR OGCDP): HTTP://BIT.LY/1EISNJD
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WHAT I SHOULD TRACK IN MY LC REGARDING FINANCE
• LC PLAN!!!! (WEEKLY!) • LC BUDGET (MONTHLY!)
• FINANCE PERFORMANCE (MONTHLY!)
• FINANCE CONTROL OF MY LC (WEEKLY!)
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FINANCE FOR LCPES
THE CORRECT USE OF FINANCE RESOURCES IN MY LC
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WHEN DO I INVEST?
ASK YOURSELF ALWAYS THIS QUESTION:
THIS INVESTMENT WILL GET ME CLOSER TO OUR ORGANIZATIONAL GOALS? YES
OR NO?
HOW CAN I MEASURE ROI (RETURN OF INVESTMENT)?
SPECIFIC MOS
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EXAMPLE
• OGX+MKT: INVEST $20 IN FB CAMPAING – MINIMUM ROI OF 500 LEADS FROM FB 50 EPS APPLYING FROM THAT
CAMPAING 30 EPS RE REPRESENTS $4.200 FOR MY LC (MOS!!!!)
• OGX+MKT: INVEST $40 IN CALLS MONTHLY – MINIMUM ROI OF 300 PEOPLE ON OPEN 300 PEOPLE CONTACTED 0
STATUS OPEN 80 EPS APPLYING FROM CLOSE SELLING IN CRM 60 EPS MA REPRESENTS $8.400 FOR MY LC (MOS!!!!)
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HOW TO INVEST IN MEMBERSHIP
• ACCORDING TO PERSONAL GOALS – SEE WHY A JD IS IMPORTANT!!!
• HOW TO TRACK THEIR PERFOMANCE AND WAY OF R&R – CLEAR KPIS AND MOS IN JD AND WEEKLY/MONTHLY TASKS.
• TEAM MINIMUMS – ENSURE PERFORMANCE AND S&S
• FEE FOR NATIONAL/INTERNATIONAL CONFERENCES – DID THE MEMBER/VP/LCP REACHED +80% ACCORDING TO PLANNED ON
THEIR XP? (YES O NO?)
– IS IT A SMART INVESTMENT ON LONG TERM VISION FOR MY LC?
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FINANCE FOR LCPES
MY NEXT STEPS
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WHAT ARE MY NEXT STEPS
• BACKWARDS PLANNING
– OPERATIONAL (CORE X)
– SUPPORT (TM-MKT)
– FINANCIAL (F&L)
• FINANCIAL
– BUDGET (AND ATTACH TO IT!)
– MONTHLY PERFORMANCE REVIEW
• IS IT WORTH THIS AREA? ARE WE EFFICIENT?
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THANKS! ANY DOUBTS, CONTACT:
GABRIELA ALVAREZ
MCVP F&L 14-15 AIESEC GUATEMALA
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