Position Overview

Duration: 2 weeks (10 business days)

Students: 1-2 students

Organizations: CanAge

This placement provides hands-on experience in nonprofit financial management, including budget analysis, financial reporting, and process improvement. Students will develop practical accounting skills while gaining insight into the unique financial challenges and opportunities in the nonprofit sector.

Learning Objectives

By the end of this placement, students will be able to:

• Analyze nonprofit financial statements and budget variances
• Create efficient financial tracking and reporting systems
• Understand nonprofit accounting principles and regulations
• Develop process improvements for financial operations
• Apply accounting software and tools in a real-world context

Week 1 Deliverables

Days 1-2: Financial Systems Assessment

• Outcome: Clear understanding of current financial processes and pain points
• Deliverable: Financial systems audit report including:
• Review of current accounting software usage
• Documentation of existing financial workflows
• Identification of inefficiencies or gaps

Days 3-5: Budget Analysis & Variance Reporting

• Outcome: Comprehensive analysis of organizational financial performance
• Deliverable: Budget variance analysis including:
• Year-to-date budget vs. actual comparison
• Variance explanations and trend analysis
• Cash flow projection for next quarter

Week 2 Deliverables

Days 6-7: Process Improvement Recommendations

• Outcome: Actionable recommendations for enhanced financial efficiency
• Deliverable: Process improvement plan including:
• Streamlined invoice processing workflow
• Enhanced expense tracking templates
• Recommendations for automation opportunities

Days 8-10: Financial Dashboard Development

• Outcome: User-friendly financial monitoring tools
• Deliverable: Financial dashboard package including:
• Monthly financial summary template
• Key performance indicator tracking spreadsheet
• Visual reporting templates for board presentations
• Implementation guide and training materials

Success Metrics

• Accuracy and insight of financial analysis
• Practicality and feasibility of process improvements
• Usability and professional quality of developed templates
• Demonstration of nonprofit accounting knowledge
• Effectiveness of recommendations for operational efficiency