The Charity CFO

DECEMBER 8, 2022

But in order to get the most out of these grants, you need to understand how to properly manage and account for them. The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. 8 Best Practices When Accounting For Grants.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

Boston Startup CFO

APRIL 3, 2023

Financial accounting: A topic that can easily disorient even the most driven entrepreneurs. As a trailblazer exploring unknown territories, you must equip yourself with the appropriate knowledge and tools to make educated decisions that guide your enterprise towards success.

Accounting 52

Accounting Accounting Principles GAAP Compliance 52

CFO Share

MAY 31, 2023

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. Fraud risk is addressed through two best practices: Implement proper controls, segregation of duties, and process audits.

Accounts Payable 40

Accounts Payable Accounting Auditing Education 40

The Charity CFO

JANUARY 21, 2022

And the issue of restricted funds presents unique bookkeeping and accounting challenges for a nonprofit that a for-profit company doesn’t face. This accounting system is called fund accounting. This accounting system is called fund accounting. Who’s Required to Use Fund Accounting? .

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

CFO Share

JULY 19, 2023

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. An AP digital transformation centralizes all bill receipts into one inbox, eliminates paper and associated data “blackholes,” and maintains clear audit records of all activity.

Accounts Payable 52

Accounts Payable Accounting Auditing Education 52

The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. Benefits of Nonprofit Accounting Services. Saves time and money.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

Future CFO

SEPTEMBER 14, 2020

The Enron scandal, one of the largest accounting frauds seen over the last three decades, led the company to file for bankruptcy in 2001. One way in which auditor independence can be compromised is when auditors simultaneously provide audit and non-audit services (NAS) to clients, and as a result become more beholden to these clients.

Auditing 52

Auditing Accounting Valuation Education 52

The Charity CFO

JULY 28, 2022

Updated standards on accounting for nonprofit leases ( ASC 842 ) go into effect this year for most organizations–and next year for the few remaining exceptions. We’ll tell you all you need to know about complying with these new rules when accounting for leases of all types. What is ASC 842 for nonprofit lease accounting?

Nonprofit 98

Nonprofit Accounting Accounting Standards CFO 98

CFO Talks

JULY 5, 2022

Join the SAIBA Tour to India as we attend the 21st IFAC World Congress of Accountants. This year’s World Congress of Accountants 2022, will be hosted by the Institute of Charteded Accountants of India in Mumbai, India. Professional Accountancy organization leaders. Theme they will be focusing on: Building trust.

Accounting 52

Accounting Auditing Leadership Education 52

Future CFO

MAY 5, 2024

Boardroom leadership, including chief financial officers, needs to manage artificial intelligence risks to drive trust, according to the Association of Chartered Certified Accountants. Introducing AI is both about trust in the systems and trust in the people that we work with, and how we bring those two elements together.,"

Risk Management 52

Risk Management Leadership Auditing Finance 52

CFO Share

MARCH 2, 2023

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

Invoicing 52

Invoicing Accounts Payable Auditing Education 52

PYMNTS

MAY 16, 2018

SOC 2 was developed by the American Institute of Certified Public Accountants (also known as AICPA) and exists as an auditing process aimed at ensuring that service providers maintain and manage customer data in a safe manner. A SOC 2 Type II review will include the testing of these controls.

Auditing 46

Auditing Healthcare Securities Education 46

CFO Thought Leader

SEPTEMBER 21, 2023

Not unlike that of many of his CFO peers, Derrek Gafford’s career path has been shaped in part by geography—specifically, by having its origins in a city that was at once home to a state college, the corporate headquarters of a marquee company, and a Big Four accounting office populated with new college grads.

CFO 52

CFO Auditing Leadership Education 52

The Charity CFO

DECEMBER 7, 2023

Combing all experience and exposure to the industry, The Charity CFO has had the opportunity to work closely in: Accounting Financial Management Fundraising Grant Management Board Engagement Hiring/Firing Succession Planning Although their main focus is accounting, yes, they certainly stay busy in conversations outside of it as well.

Nonprofit 52

Nonprofit Auditing Budgeting CFO 52

Future CFO

DECEMBER 10, 2023

The Association of Chartered Certified Accountants enumerated the key elements for a successful sustainable reporting implementation. As part of the journey to better sustainable reporting in 2024, a chief financial officer must understand how he or she can properly navigate around its implementation.

CFO 52

CFO Auditing Education Risk Management 52

CFO Talks

SEPTEMBER 6, 2022

Welcome to this SAIBA CFO podcast, SAIBA is the South African Institute of Business Accountants, it has more than 12 000 members and specialises in a wide range of disciplines such as accountancy and tax, training and development, career enhancement, legislation, designations and financial reporting.

Auditing 52

Auditing CFO Leadership Math 52

The Finance Weekly

JANUARY 22, 2024

CFOs need strong finance and accounting skills, along with years of experience, to find ways to enhance the organization's financial well-being. The CFO may work with the finance and accounting team to predict the effects of different operational decisions. Resolve accounting and finance problems.

CFO 52

CFO Education Communication Leadership 52

The Charity CFO

MARCH 24, 2022

The education first department reported Inconsistencies to the USDA in 2020. And in early 2021, the department labeled Feeding Our Future “seriously defective” due to incomplete financial audits and lapsed IRS nonprofit registration. How was this fraud uncovered? Now, the BIG question— how did this happen ? .

Nonprofit 98

Nonprofit Profit and Loss Auditing Leadership 98

Planful

SEPTEMBER 1, 2016

In early August, I was asked to speak at the annual meeting of the American Accounting Association (AAA). The AAA has been around for 100 years and is a community of accounting educators. Hip, Cool, and Relevant Accounting Technologies. His main message was that ERPs are no longer the center of the accounting universe.

Technology 40

Technology Accounting Auditing Reconciliations 40

CFO Simplified

DECEMBER 26, 2021

It’s easy to grow without noticing that your finance and accounting department is stretched far too thin. From overworked staff accountants to controllers running month-end closes, a poorly structured finance, and accounting department can put strains on your business’ growth. Roles and Responsibilities. Company Size.

Finance 52

Finance General Ledger CFO Auditing 52

The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. Has the Department of Labor audited your organization for misclassifying contractors as employees? Red Flag #5: No Accountant or Bookkeeper.

Nonprofit 98

Nonprofit Auditing Compliance Accounting 98

The Charity CFO

SEPTEMBER 14, 2022

It’s true that due to their uniquely valuable societal contributions, such as charitable actions or educational priorities, nonprofits receive tax exemption for income from activities substantially related to their primary purpose. . Don't hire the wrong accountant for your nonprofit! But what if I told you that’s not always true?

Nonprofit 98

Nonprofit Profit and Loss Education CFO 98

The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

Nonprofit 52

Nonprofit Compliance Accounting Standards Budgeting 52

VCFO

AUGUST 25, 2022

Years ago, security concerns heightened for vcfo when a third-party hosting platform for an accounting application some of the team used was encrypted and therefore inaccessible to the team. The range of issues that typically come to light in security audits and reviews aren’t solvable in one fell swoop. ——-.

Securities 81

Securities Prioritization Education Budgeting 81

CFO News Room

JANUARY 19, 2023

They also offer educational resources to help users learn the basics of investing. The primary source of revenue for Robinhood is the interest they earn on customer funds held in Robinhood accounts. What kind of security measures does Robinhood have in place to protect my account? How Does Robinhood Make Money?

Profit and Loss 130

Profit and Loss Securities Nonprofit Investments 130

CFO News Room

DECEMBER 16, 2022

They may work in various industries, such as investment firms, accounting firms, banks, or the government. Chief compliance officers often have a degree in finance, law, accounting, or business administration. They must also help customers understand their coverage, file claims, and manage their accounts. Senior Accountants.

Finance 130

Finance Budgeting Compliance Financial Analyst 130

CFO Leadership

AUGUST 12, 2021

This initiative brings together members from historically underrepresented groups to discuss issues that are important to them along with educational and networking opportunities. Kim Ngyuen came to the US from Vietnam to further her education and obtained her MBA with a concentration in Accounting at Albertus Magnus College.

Leadership 98

Leadership CFO Financial Planning and Analysis (FP&A) Finance 98

PYMNTS

AUGUST 5, 2016

There is seemingly no end to the discussion of how automated accounting can improve a business’ performance. The market is on the cusp of a groundswell of adoption of these technologies, says Therese Tucker, CEO of accounting solutions firm BlackLine , after a long lull among mid-market firms.

Accounting 42

Accounting Reconciliations General Ledger Auditing 42

The Charity CFO

JANUARY 26, 2023

Start With the Fundamentals of Nonprofit Tax Filing Non-profit organizations operate in many areas of society, including education, healthcare, sports, and social services. NPOs should track all donations, grants, and investments made to their organization to make sure they are properly accounted for.

Nonprofit 52

Nonprofit Accounting Principles Profit and Loss Auditing 52

PYMNTS

NOVEMBER 20, 2020

For Andy Brown , CFO at education technology company Chegg , there was a plethora of opportunities to embrace by collaborating with third-party FinTech partners. Payables and accounting operations overall — "the machinery of paying and getting paid," as Brown explained — topped the list.

CFO 87

CFO Education Auditing Communication 87

The Charity CFO

DECEMBER 8, 2023

In this guide, you’ll learn the rules nonprofits must follow when accepting and accounting for donations. Donating to a nonprofit with the correct tax exemption status also helps ensure your money will be put to good use, as 501(c)3 organizations are held accountable to legal standards enforced by the federal government. Yes, you can.

Nonprofit 52

Nonprofit CFO Accounting Auditing 52

The Charity CFO

JULY 10, 2022

They also educate the rest of the board on their duties and responsibilities to the organization. . Meanwhile, audits, financial management, and risk mitigation fall under the purview of the Finance or Risk Management Committee. Don't hire the wrong accountant for your nonprofit! 3: External Affairs. Get the free guide!

Nonprofit 97

Nonprofit Auditing Communication Risk Management 97

The Charity CFO

APRIL 16, 2022

In this guide, you’ll learn the rules nonprofits must follow when accepting and accounting for donations. Donating to a nonprofit with the correct tax exemption status also helps ensure your money will be put to good use, as 501(c)3 organizations are held accountable to legal standards enforced by the federal government. Yes, you can.

Nonprofit 52

Nonprofit Auditing CFO Accounting 52

CFO Share

MAY 25, 2021

As a forensic accountant , I am often called into a “failing” business only to discover an employee is stealing all the profits! And most of the time the fraudster is the accountant or bookkeeper whom you trusted to implement internal controls! Embezzlement and other advance accounting frauds. Routine payroll audits.

Auditing 52

Auditing Accounting Manufacturing Education 52

PYMNTS

OCTOBER 6, 2020

The friction is mainly education,” said Lance Carlson , co-founder and chief operating officer for payment services software provider HealPay. “. Firms looking to verify that their operations follow PCI requirements must pay not only to have their businesses audited but also to bring them up to speed if they do not.

Compliance 71

Compliance Auditing Securities Education 71

Future CFO

JUNE 26, 2023

Greater awareness and education. By prioritising cybersecurity at the highest levels of decision-making, organisations can foster a culture of accountability and ensure that security measures are given due importance. APAC organisations must allocate adequate resources to cybersecurity initiatives.

Leadership 52

Leadership Manufacturing Education Securities 52

The Charity CFO

JANUARY 5, 2023

Accountability for everyone involved. Educate the staff and board on critical issues triggered by certain gifts. When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Make board members accountable. Better information dissemination. Unbiased decision-making.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52