The Charity CFO

JULY 19, 2024

What is a Chief Financial Officer (CFO)? A Chief Financial Officer (CFO) is a senior executive in charge of the strategic direction and goal setting of a nonprofit’s accounting and financial management. Responsibilities typically include advanced analysis and reporting, budgeting, etc.

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CFO Accounting Nonprofit General Ledger 52

The Charity CFO

JANUARY 21, 2022

If you’re looking for info on fund accounting in government here is a great resource for you. Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit.

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Nonprofit Accounting GAAP Accounting Principles 93

The Charity CFO

JANUARY 17, 2022

The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. Accrual-Basis Accounting. Check out this article to learn more about fund accounting.

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Nonprofit Accounting Profit and Loss Accounts Payable 89

BlueLight

MAY 1, 2020

Traditionally, the chief financial officer (CFO) is responsible for tracking the company’s past and present financial situation and ensuring on-time and accurate financial reporting. Today, the CFO is expected to inform strategic decisions that drive the success of the company. The CFO takes on the responsibility of FP&A.

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Financial Planning and Analysis (FP&A) CFO Strategic Planning Startups 52

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. Their titles include CEO, CTO, COO, CFO, and VP of Finance of venture-backed startups.

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CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

The Charity CFO

JULY 12, 2024

The timing of an organization’s income and expenses in cash-basis accounting can misrepresent the actual financial state of the nonprofit. Additionally, the cash-basis method can make accurate forecasting and budgeting difficult. Say a nonprofit hosts a large fundraising event in the second quarter. Get the free guide!

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Nonprofit Accounting Budgeting GAAP 52

The Charity CFO

AUGUST 15, 2023

For accountants, this means the profit-generating strategies and investment ideas you bring to the table are still applicable and can make a massive impact. 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.

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