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Finance can feel overwhelming, but understanding your financial infrastructure is one of the most important foundations for any business, non-profit, association, or professional practice.

In this episode of How to Keep Your Day Job with The Morning Star Consultants, Lisa Goss sits down with Ahmed Elsayed of Right Solutions Inc. to break down the fundamentals of financial systems in a practical, approachable way.

Together, they unpack:

• The three core financial statements and what they actually tell you
• Why cash flow matters more than many people realize
• Common bookkeeping and GST mistakes businesses make
• The importance of monthly reconciliation and financial review
• How poor financial infrastructure creates stress, confusion, and risk
• Why strong systems create clarity, confidence, and freedom

Using simple real-world examples — including the “Lemon Stand Principle” — Lisa and Ahmed explain complex financial concepts in a way that is accessible, practical, and grounded in real operations.

A special shoutout to Ahmed Elsayed and the team at Right Solutions Inc. for their ongoing support in accounting, bookkeeping, payroll, and tax solutions for businesses and organizations across Manitoba and beyond.

Whether you’re a business owner, Executive Director, board member, entrepreneur, or someone trying to better understand your numbers, this episode is designed to help you build stronger financial foundations.

📍 Based on the presentation “Finance 101: Understanding Your Financial Infrastructure” presented by Ahmed Elsayed and Lisa Goss.

Lisa Goss, MBA

Morning Star Consultive Services
Business and Life Strategists

📍 Address: 93 Lombard Avenue, Suite 103
📞 Phone: 431-807-9679 ext. 800
🌐 Website: Business and Management Consultant - Winnipeg, Manitoba
📧 Email: info@morningstarconsultant.com
🎙 Podcast: How To Keep Your Day Job — with The Morning Star Consultants

Strategic | Operational | Foundational

Ahmed Elsayed

Right Solutions Inc.
Accounting and Tax Solutions

📧 Email: ahmed@right-solutions.ca
📞 Phone: 416-520-0544
🌐 Website: Right Solutions Inc.

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This podcast is not associated with or endorsed by any company, employer or agency. By accessing this Podcast, you acknowledge that Morning Star makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered individual professional advice, nor is any guest or presenter speaking for any entity where they are not the sole proprietary.

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This episode is a little different.

We’re stepping away from teaching and into a real conversation about what’s happening behind the scenes at Morning Star right now.

We’ve crossed 10,000 downloads this month (thank you — truly), and at the same time, we’re in the middle of a big season of growth. Conferences, governance work, complex client files… and now, a new event space that we’re building from the ground up.

And it’s not small.

We talk about what it actually looks like to take the next step in business — the risk, the responsibility, and the reality that growth doesn’t come wrapped in a neat, polished package.

We also get into the tension between business decisions and values. What it means to build something that’s financially sustainable, while still staying true to making space accessible for nonprofits, charities, and community.

This isn’t a how-to episode.

It’s a real one.

If you’re in a season where things feel big, messy, or uncertain — you’re not alone.

We’re right there too.

📬 Contact Us

Want support building systems that actually work for your organization?

🌐 Website
https://morningstarconsultant.com/
📧 Email
info@morningstarconsultant.com
📸 Instagram
https://www.instagram.com/morningstarconsultive/
📘 Facebook
https://www.facebook.com/morningstarconsultive
🔗 LinkedIn (Company Page)

LinkedIn: Morning Star Consulting | LinkedIn

Check out Staci on Instagram @DefineYourFabulous

Support the show

This podcast is not associated with or endorsed by any company, employer or agency. By accessing this Podcast, you acknowledge that Morning Star makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered individual professional advice, nor is any guest or presenter speaking for any entity where they are not the sole proprietary.

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Year-end doesn’t have to feel overwhelming, reactive, or… slightly chaotic.

In this episode of How to Keep Your Day Job with the Morning Star Consultants, we walk through what it actually takes to prepare for a year-end audit in a way that is organized, intentional, and grounded in strong governance.

Using Morning Star’s Audit Preparation Checklist as a foundation, we break down what auditors are really looking for—and how to have it ready before they even ask.

We also dive into one of the most overlooked (but critical) pieces of the audit process:
👉 the Board and Management Questionnaire

This tool isn’t just paperwork—it’s a governance signal. It demonstrates oversight, accountability, and that your organization understands its roles and responsibilities at both the Board and operational levels.

We also unpack:

• The different types of audit and financial engagements (audit, review, compilation—and why they matter)
• How legislation and your governing Act shape your reporting obligations
• The connection between governance, compliance, and financial transparency
• Why a clean audit starts months before year-end—not at the last minute

This episode is for:
✔️ Executive Directors & CEOs
✔️ Board Members & Treasurers
✔️ Anyone responsible for financial oversight in a non-profit, charity, or association

If you’ve ever felt unsure about what auditors actually need—or how to show up prepared—this episode will help you move from scrambling to structured.

Key Takeaway

A strong audit isn’t just about numbers—it’s about governance, systems, and telling a clear, accountable story of your organization.

Note: if you are sharing any information with the auditor that is covered by privacy legislation, get consent first!

📬 Contact Us

Want support building systems that actually work for your organization?

🌐 Website
https://morningstarconsultant.com/
📧 Email
info@morningstarconsultant.com
📸 Instagram
https://www.instagram.com/morningstarconsultive/
📘 Facebook
https://www.facebook.com/morningstarconsultive
🔗 LinkedIn (Company Page)

LinkedIn: Morning Star Consulting | LinkedIn

Support the show

This podcast is not associated with or endorsed by any company, employer or agency. By accessing this Podcast, you acknowledge that Morning Star makes no warranty, guarantee, or representation as to the accuracy or sufficiency of the information featured in this Podcast. The information, opinions, and recommendations presented in this Podcast are for general information only and any reliance on the information provided in this Podcast is done at your own risk. This Podcast should not be considered individual professional advice, nor is any guest or presenter speaking for any entity where they are not the sole proprietary.