CFO News

OCTOBER 25, 2023

The National Financial Reporting Authority (NFRA) in India has launched an inquiry into EY member firm S.R. NFRA has requested files and communications related to the audits of Adani Group companies dating back to 2014. Batliboi, one of the longtime auditors of the Adani Group, according to sources.

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Accounting Auditing Communication Financial Reporting 52

CFO Plans

MAY 2, 2024

Whether you need outsourced bookkeeping services or advanced financial reporting, your partner should be able to accommodate your needs without disruption. Assessing Communication and Collaboration Effective communication and collaboration are key to a successful partnership.

Accounting 52

Accounting Problem Solving Compliance Communication 52

Beacon CFO Plus

NOVEMBER 30, 2023

How to Divide Responsibilities and Prioritize Communication The relationship between a fractional or outsourced Chief Financial Officer (CFO) and your company’s public accounting firm should be collaborative, clear, and well-defined. This ensures your company’s financial and accounting needs are met effectively.

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Accounting Firms CFO Accounting Prioritization 52

CFO Leadership

OCTOBER 10, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

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Finance Accounting Auditing IFRS 95

Future CFO

MAY 5, 2024

CFOS can do this by taking steps in their organisations to manage the associated risks with AI, as it plays a greater role in the accounting and financial reporting of businesses. Financial leaders and controllers will have to be confident about the adequacy of oversight and controls of AI systems.

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Risk Management Leadership Auditing Finance 52

The Finance Weekly

APRIL 21, 2024

Communicate with clients, investors, senior management, and stakeholders. Oversee cash flow and strategize for financial requirements. Facilitate risk management, audits, and research. Spot investment and financial planning prospects. Address accounting and finance issues. Compile quarterly and annual tax returns.

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CFO Budgeting Auditing Accounting Principles 52

CFO Talks

MARCH 20, 2024

Example: When it’s time for an audit, the Controller is hands-on, working directly with the auditors, showing them the books, and explaining the details. The CFO, on the other hand, talks strategy with the audit partner and handles any big issues that pop up. Leave the daily grind to the Controller and trust your team.

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CFO Accounts Payable Financial Analysis Auditing 52

The Charity CFO

APRIL 2, 2024

They’ll know how to approach common financial issues for nonprofits, such as limited budgets or restricted funds. Accurate and Timely Reporting Most nonprofit leaders have been there: you can’t make a crucial decision until a certain financial report comes in, but you’re never sure when the data will be available.

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Nonprofit Accounting Accounting Firms CFO 52

The Charity CFO

NOVEMBER 10, 2022

As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit. Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. . Generates accurate financial reports.

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Nonprofit Accounting Auditing GAAP 52

The Charity CFO

MARCH 6, 2024

Consider it like an internal audit and a necessity. Red Flag #2: Lack of Financial Reports Speaking of infrequencies, the lack of financial reports can indicate another red flag. Another tip here could be vast differences in the financial reporting based on what is expected and what is actually reported.

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Nonprofit Accounting Reconciliations Invoicing 59

Future CFO

MAY 1, 2024

As the person responsible for preparing an organisation’s financial reports, which include balance sheets and income statements, the role of a finance controller is anything but ordinary. Accurate problem definition is emphasised, highlighting the controller's role as the choice architect in resolving business issues.

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Leadership IFRS Finance Communication 98

CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

Finance 52

Finance Accounting Auditing IFRS 52

CFO Share

DECEMBER 13, 2023

Opportunities missed from late financial reporting. CFOshare’s team approach includes supervision and internal audits to reduce fraud risk. Communicate effectively. Here’s the benefits we offer beyond confidence from reliable financials: We are service, not software. Stress and uncertainty due to unreliable data.

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Auditing Communication Leverage Accounting 52

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.

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Nonprofit Compliance Accounting Standards Budgeting 52

CFO News Room

DECEMBER 16, 2022

Most financial managers have previous experience working in market analysis and forecasting positions similar to this one. Financial managers are responsible for developing long-term financial plans, directing investment activities, and generating financial reports for their company. Communication Skills.

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Finance Budgeting Compliance Financial Analyst 130

Fpanda Club

SEPTEMBER 2, 2021

Management reporting involves a set of reports submitted to management that aims at supporting decision-making process and monitoring progress. Performance management is a range of practices which a company uses to measure its performance and communicate results. Turning to soft skills, it’s not so easy here.

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Financial Planning and Analysis (FP&A) Corporate Finance Communication Budgeting 130

The Charity CFO

DECEMBER 8, 2022

Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes. Establishing clear roles and communication protocols can help ensure that all team members are in alignment when it comes to grant accounting.

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Accounting Nonprofit Auditing Compliance 52

The Charity CFO

MAY 11, 2023

Make sure that you find a partner in your service provider and ensure that your access and communication channels are clearly defined. Security Concerns The financial data of an organization is incredibly sensitive. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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Nonprofit Communication Auditing GAAP 52

The Finance Weekly

JANUARY 22, 2024

Communicate with clients, investors, company leaders, and stakeholders. Manage cash flow and plan for financial needs. Supervise and offer suggestions for the financial department. Assist with risk management, audits, and research. Identify investment and financial planning opportunities.

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CFO Education Communication Leadership 52

PYMNTS

OCTOBER 1, 2019

have led the Financial Reporting Council (FRC) to enact more stringent accounting standards, The Guardian reported on Monday (Sept. According to reports, the FRC issued an updated going concern standard, adding “significantly stronger requirements” for U.K. More high-profile corporate collapses in the U.K.

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Accounting Standards Accounting Auditing Communication 51

The Charity CFO

JUNE 19, 2023

At the most basic level, they can help ensure your organization’s finances are in order and help resolve issues involving financial reports and compliance. Preparing for Your First Meeting Once you’ve selected the perfect nonprofit financial advisor, you need to get your relationship off on the right foot.

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Nonprofit Communication CFO Auditing 52

The Charity CFO

DECEMBER 27, 2023

If your nonprofit engages in for-profit activities, you’ll need to communicate with donors to let them know. Proper communication helps donors understand the tax implications of their gifts and improves your organization’s transparency. Properly-recorded books can help reduce your chance of noncompliance in a nonprofit audit.

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Nonprofit Profit and Loss CFO Communication 52

The Charity CFO

AUGUST 15, 2023

One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990. The IRS report only pays attention to tangible monetary value which means things like in-kind services or unrealized gains/losses on investments are excluded.

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Nonprofit Accounting Profit and Loss Budgeting 52

CFO Talks

MARCH 14, 2024

We emphasized the importance of communication, setting priorities, and the initial avoidance of hasty decisions. The position of Chief Financial Officer has evolved significantly over the past few decades. Improving Financial Reporting Accuracy: Accurate financial reporting is the backbone of trust and transparency in any organization.

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Prioritization CFO Leverage Risk Management 52

The Charity CFO

APRIL 19, 2022

When most nonprofits think about ‘accounting issues,’ they’re concerned about poorly prepared financial reports, bookkeeping errors, gaps in communication with funders, bad audits and a million more things in this vein. Has the Department of Labor audited your organization for misclassifying contractors as employees?

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Nonprofit Auditing Compliance Accounting 98

Bramasol

JULY 22, 2023

IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term. The CSRD is intended to revamp and expand information that was already required to be reported since 2017 under the EU’s existing Non-Financial Reporting Directive (NFRD).

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IFRS Accounting SAP Compliance 87

The Charity CFO

APRIL 18, 2024

Audit and adjust technology and data practices based on current cybersecurity best practices. You can make donors feel special by adding personalized messaging to donor communications. Do You Struggle to Make Sense of Your Financial Statements? Implement staff and volunteer training on security best practices.

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Nonprofit Compliance CFO Leverage 52

The Charity CFO

APRIL 9, 2024

The expectation of these two roles, whether separate people, (or one person in smaller organizations) is to be able to communicate the financial health of the organization quickly and effectively while in a presentation or board meeting. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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Nonprofit Finance CFO Accounting 52

PYMNTS

FEBRUARY 19, 2020

The virus has hurt HNA’s ability to meet financial obligations, according to reports – the firm has made acquisitions worth tens of billions of dollars, but an increasing bet on aviation has left it exposed to a drop in flight activity and tourism tied to the virus. The impact is not confined to China.

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Communication Auditing Transportation Manufacturing 56

The Charity CFO

NOVEMBER 23, 2022

They are responsible for the financial health of the organization. They create and maintain financial records, prepare financial reports, and oversee the organization’s budget. You can also ask them specific questions about their experience working with spreadsheets and financial software programs.

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Nonprofit Finance Strategic Planning Budgeting 52

The Charity CFO

DECEMBER 15, 2023

Like restricted and unrestricted funds, keeping grant and sponsorship money can save you headaches at tax time (and when communicating with donors ). Differentiating between program service fees and constrictions helps maintain clean records and can lower your risk of compliance issues if your nonprofit is audited. Get the free guide!

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Nonprofit Compliance CFO Valuation 52

The Charity CFO

DECEMBER 14, 2022

This can help with internal communication, problem-solving, conflict resolution, and growth acceleration. These diagrams can include information about job titles, responsibilities, job roles, reporting relationships, and communication channels between different departments or divisions. Functional org chart. Get the free guide!

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Nonprofit CFO Communication Microsoft Office 52

PYMNTS

JULY 5, 2017

.” Some experts are worried a similar trend can be seen within the financial functions of the enterprise itself, with automated accounting and forecasting capabilities now offered quicker and more accurately via robots than humans. The nature of financial reporting is to communicate facts aggregated using accounting rules.

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Financial Data Auditing Financial Reporting CFO 52

The Charity CFO

JANUARY 5, 2023

Maintaining healthy financial management is critical for the organization’s sustainability, stability, and flexibility, now and in the future. Poor financial reporting. This involves ensuring compliance with all accounting, reporting, and disclosure requirements. Collaboration issues. Destruction of physical assets.

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Nonprofit GAAP Budgeting Auditing 52

Future CFO

AUGUST 30, 2021

According to Payscale.com , skills such as leadership, and financial reporting and strategic planning, won’t elevate your take-home pay much. What makes for a sought-after chief finance professional (CFO)? These days, strong computer skills, as are advanced knowledge of accounting, budgeting, and finances.

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Financial Planning and Analysis (FP&A) Finance CFO Problem Solving 52

The Finance Weekly

APRIL 27, 2022

Set Firm Organizational Standards: As a leader, you have the power to define the company’s operational approach, values, and standards of conduct, expressing the expectations in value statements, company policies, ethical codes, and communications. Document Your Policies: Policies all require clarity, communication, and consistency.

Leadership 52

Leadership Financial Planning and Analysis (FP&A) CFO Communication 52

Onplan

DECEMBER 16, 2021

With that in mind, here are some of the most important functions of an accounting team a CFO needs to keep an eye on: Creating financial statements Financial reporting Payroll Customer Invoicing Vendor/employee payments Entity taxes Compliance. Knowing how to use technology as an advantage for any SaaS finance leader.

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Financial Planning and Analysis (FP&A) Finance CFO Forecasting 52