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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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.

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CFO News Room

DECEMBER 16, 2022

Chief Financial Officer. As a financial executive, the chief financial officer (CFO) is responsible for the financial health of an organization. The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management.

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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. The CFO suite doesn’t want to be the “department of No.”

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PYMNTS

SEPTEMBER 24, 2018

For many, the mistakes were discovered when corporate finance teams were changing accounting paperwork to comply with the new U.S. tax law and revenue accounting rules. Camping World Holdings, for example, had to file a restatement after it incorrectly recorded a deferred tax asset related to its acquisition of a 41.7

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CFO Plans

JULY 12, 2024

One powerful way to achieve this is by leveraging SaaS-based accounting software. This cloud-based solution revolutionizes financial operations, streamlining everything from inventory management to cost tracking. Discover how CFO Plans can transform your manufacturing business. Optimize your cost tracking with CFO Plans.

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CFO Plans

SEPTEMBER 24, 2024

Virtual accounting services for startups provide a cost-effective solution, offering the same level of expertise as traditional accounting firms but with greater flexibility. These services can help you keep track of expenses, manage payroll, and ensure accurate financial reporting, all while keeping costs down.

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The Charity CFO

APRIL 2, 2024

It’s important to do your due diligence when looking for an accounting partner. Nonprofit accounting has several major differences from for-profit accounting. An accounting firm that specializes in nonprofit accounting knows the legal and tax limitations of a nonprofit organization. Contact us today !

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The Charity CFO

JULY 1, 2024

Nonprofit Accounting Expertise and Experience Nonprofit accounting isn’t the same as for-profit business accounting. Your organization needs a nonprofit accountant who understands the differences and has experience in nonprofit accounting. Do You Struggle to Make Sense of Your Financial Statements?

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PYMNTS

JULY 5, 2017

For a chief financial officer (CFO), having technology — from ERP systems to cloud accounting and cash forecasting tools — has become paramount when deploying a successful growth strategy. But Born said the human element is the key that’s often missing in these innovations to corporate financial reporting.

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The Charity CFO

JANUARY 21, 2022

When you set up funds in your chart of accounts, they’ll show on your financial statements as well. So let’s take a look at where you’ll see restricted funds on your financial reports: Statement of Activities. Unlike most accounting firms, we work exclusively with nonprofit organizations like yours.

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CFO Talks

FEBRUARY 20, 2024

Farhaan Moolla: Innovative Leadership: The Journey of a modern and dynamic CFO Written by: Staff writer In this podcast Farhaan Moolla, a seasoned CFO with a notable career in financial leadership and strategic planning, shared his journey, beginning with his entrepreneurial family background. Farhaan : Mornin g, Nicola a s !

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The Charity CFO

SEPTEMBER 17, 2024

Luckily, you can handle unexpected departures using these strategies: Cross-train other staff members in key accounting functions, such as accurate transaction recording. Maintain a relationship with external accounting firms who can step in to bridge the gap while you look for a new accountant. Need extra support?

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The Charity CFO

JANUARY 17, 2022

Your core financial reports, which we’ll look at below, exist to answer this one simple question– how much value has your organization created ? Don't hire the wrong accountant for your nonprofit! The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Accounts Payable.

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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. Have Nonprofit Financial Red Flags? Red Flag #2: Hidden Compliance Issues. Maybe We Can Help.

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The Charity CFO

APRIL 26, 2024

You want to know your accountant can help you figure out what needs to be done to stay in compliance as a nonprofit. How Do You Approach Financial Reporting for Nonprofits? Accurate financial reporting is essential to a nonprofit’s success. Do You Struggle to Make Sense of Your Financial Statements?

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The Charity CFO

JULY 12, 2024

Improved Financial Transparency Accrual accounting provides stakeholders with a detailed view of your organization’s financial activities, improving trust and confidence. Transparent financial reporting can also improve donor relations. Do You Struggle to Make Sense of Your Financial Statements?

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The Charity CFO

JULY 2, 2024

Implementing financial management software: Accounting and financial software tools, like QuickBooks , streamline accounting, bookkeeping, and financial reporting. At the Charity CFO, for example, we help nonprofits improve efficiencies through expert accounting and financial advice.

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The Charity CFO

OCTOBER 4, 2022

They also develop and implement operational procedures and systems and manage budgets and financial reports. That doesn’t mean that the operations manager needs to be an accountant. Generally, they’ll oversee the accounting team or work as a liaison with an outsourced accounting firm.

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The Charity CFO

MARCH 28, 2024

Working with a professional accounting firm specializing in nonprofit accounting is a great way to fix your accounting system and save time. Nonprofit accounting firms have specialized knowledge related to financial management for nonprofits. Do You Struggle to Make Sense of Your Financial Statements?

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https://trustedcfosolutions.com/feed/

SEPTEMBER 20, 2021

Imagine a world where financial reports are delivered in real-time without your direct involvement and you stop working late nights, weekends, and during your family vacations? As the CFO or Venture Capitalist of a Private Equity Fund, you may already have an ERP system in place. About The Author.

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The Charity CFO

APRIL 25, 2024

About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services. We know what a nonprofit goes through each day, and we utilize technology to simplify our clients’ accounting processes. Where is the money?

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The Charity CFO

JULY 3, 2024

For example, if you don’t have time to conduct a review, you could hire an external accounting firm to perform an audit or reduced scope of work. Using Your Review for Effective Planning The findings of your review give you a better picture of the financial health of your organization. Get the free guide!

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The Charity CFO

MAY 31, 2024

The Importance of Efficient and Accurate Bookkeeping Just like for-profit businesses, nonprofit organizations need to have an efficient and accurate accounting system. Learn More About Nonprofit Accounting Technology Diving into the world of nonprofit accounting software can feel like information overload. Get the free guide!

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The Charity CFO

MAY 19, 2023

When strategically implemented as a part of an organization’s financial strategy and other fundamental financial requirements, cash management helps to support a holistic picture of the health and prosperity of an organization and their future abilities to maintain their mission. Get the free guide!

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CFO Talks

AUGUST 10, 2022

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

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Future CFO

SEPTEMBER 7, 2022

According to to “Sustainability – Jobs and Skills for the Accountancy Profession”, a joint study by ISCA, EY, Singapore Management University (SMU) and Singapore Accountancy Commission (SAC), the chief finance & sustainability officer (CFSO) is an emerging C-suite position.

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CFO News

MARCH 25, 2025

Accounting firm PwC has been fined 4.5 million USD) by Britain's Financial Reporting Council (FRC). The fine relates to PwC's audit of Wyelands Bank's financial records for the year 2019. million (approximately $5.8 The FRC announced the sanction in a statement released on Tuesday.

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The Charity CFO

MARCH 29, 2024

This information then helps you proactively address issues and make strategic adjustments to improve your financial standing. If you’re unsure of where to start comparing budget to actual performance, consider working with a trusted nonprofit accounting firm like The Charity CFO. Get the free guide!

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The Charity CFO

APRIL 18, 2024

For instance, working with a nonprofit accountant, like The Charity CFO, can help you reduce your risk of financial non-compliance. But what if you need extra help setting up your nonprofit accounting tech stack or recording donations correctly? That’s where The Charity CFO can help! Get the free guide!

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The Charity CFO

APRIL 22, 2024

We’re happy to provide nonprofit accounting services to help take some of that stress off of your team. Do You Struggle to Make Sense of Your Financial Statements? Get our FREE GUIDE to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances.

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CFO Simplified

MARCH 7, 2024

There are several exemptions to these new reporting requirements, including an exemption for operating businesses (i.e., accounting firms, SEC registered businesses, insurance companies, and publicly traded corporations). The post What to Know About the Corporate Transparency Act appeared first on CFO Simplified.

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CFO Network

FEBRUARY 21, 2024

Access to Top-Tier Expertise One of the most surprising advantages of outsourced accounting is gaining access to top-tier expertise. When you partner with a reputable accounting firm, you tap into a wealth of knowledge and experience. This flexibility can significantly impact your bottom line by eliminating unnecessary expenses.

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The Charity CFO

AUGUST 15, 2023

To support and maintain the organization’s tax-exempt status, nonprofit accountants have to understand and adhere to IRS rules for: Tax-exempt organizations Reporting requirements Maintaining proper documentation Reporting Financial reports and statements provide a transparent view of the organization’s financial performance.

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CFO Simplified

MARCH 7, 2024

There are several exemptions to these new reporting requirements, including an exemption for operating businesses (i.e., accounting firms, SEC registered businesses, insurance companies, and publicly traded corporations). The post What to Know About the Corporate Transparency Act appeared first on CFO Simplified.

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Future CFO

MAY 5, 2025

Upskilling Lim thinks that while there has been good progress, many accounting and finance teams are still not adequately upskilled to meet the demands of their evolving roles. The post Upskilling: Finance professionals and their proactive approach to learning appeared first on FutureCFO.

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CFO Talks

JANUARY 27, 2025

David Wray: Navigating ESG, Sustainability, and the Evolving Role of CFOs In a recent CFO Club podcast episode, Nicolas van Wyk had an insightful discussion with David Wray, a seasoned CFO and expert on ESG (Environmental, Social, and Governance). It’s Nicolaas van Wyk hosting another session for CFO Club.

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