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Number Of Corporate Accounting Errors Unexpectedly Climbs

PYMNTS

A research firm has discovered that the number of material accounting mistakes made by U.S. listed companies since 2005, finding firms that had to reissue their financials due to errors. For many, the mistakes were discovered when corporate finance teams were changing accounting paperwork to comply with the new U.S.

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Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting.

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Set Up a Nonprofit Chart of Accounts (Free Template)

The Charity CFO

If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? How to Organize a Nonprofit Chart of Accounts . Account Description.

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Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. with this overview of nonprofit accounting basics. . It’s a necessity.

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Nonprofit Accounting Services: The Right Solution

The Charity CFO

What should you look for when evaluating nonprofit accounting services? Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. .

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How to Build Shareholder Trust with Reliable Financial Reports

Planful

In an ideal world, financial reports should build shareholder trust by offering accurate data about the performance of the company. In reality, a company’s financial report can be more flimsy—involving estimates and judgment from leadership that’s far from the truth. Create Detailed, Transparent Reports.

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California CPAs Call For Crypto Accounting Clarity

PYMNTS

Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. GAAP,” the letter stated.