Improving your General Ledger in a Recession – Warden
The question, “How many GL numbers are truly helpful?” does not have finite answer. The answer does change, typically increasing, during a recession and any other time of financial stress.
Decision makers need additional financial and operational numbers when they have little wiggle room for absorbing risks. Where do most of the verifiable numbers come from? Your General Ledger, of course! No other set of numbers has as many internal controls and audit steps built around it.
First, we’ll look at some of the additional information that is often requested during tough times. Then we’ll consider the best place to find it: operational reports or financial records.
Proofing what you have created yourself, what you use every day, is impossible for humans to do optimally so we’ll compare & contrast practices to help you find the best tailored for your CU.
Carolyn Warden has experienced CU operations from all sides of the management desk. She started in the visitor’s chair as an NCUA examiner.
Quickly she learned that if she really wanted to know what she was talking about she needed to switch to the other side of the desk. She has been CEO & CFO of four credit unions with assets ranging from medium to super-sized.
She was under the desk for a while, pulling cables as a trouble shooter and education director for a large CU data processing firm. Somehow she found the time to be Director of Research and Information for the NJCUL, and co-author a number of books and articles about credit unions.
Carolyn has taught CUNA Schools, for numerous leagues and did a stint in Eastern Europe for the World Council of CUs. Her credit union clients range from new charters to over $1 billion in assets, and are located from New York City to Alaska and Hawaii. She coaches her clients through challenging changes by providing information and identifying options, as well as training them to implement change with minimal stress and lots of fun!
Attend this Webinar, Tue, Mar 9, 1 pm ET
Webinar details:
- Scheduled for 60 minutes.
- Webinar is delivered on the Web and toll-free conference call.
