The Charity CFO

JANUARY 17, 2022

Cash accounting may be a good choice for some small nonprofits with funding challenges. Accrual accounting is required by Generally Accepted Accounting Principles (GAAP), which means that you’ll need accrual-based reports to complete a nonprofit audit. 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

This function is called financial planning and analysis (FP&A). The CFO is focused on company-level strategic planning and building a relationship with investors. The CEO outsources accounting to a third-party accounting firm and may conduct simple FP&A. The CFO takes on the responsibility of FP&A.

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

The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Transitioning to accrual-basis accounting can offer a more accurate representation of finances and enhance long-term planning.

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Nonprofit Accounting Budgeting GAAP 52

The Charity CFO

JULY 19, 2024

They’ll need to provide strategic planning, financial forecasting, and risk management while working with the board of directors. The solution for many organizations is to outsource their financial needs to a trusted nonprofit accounting firm. Hiring individuals for each role isn’t feasible for many nonprofit organizations.

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CFO Accounting Nonprofit General Ledger 52

BlueLight

JULY 30, 2020

System for a high functioning finance office Integrating disparate finance tools Getting full visibility to subscription revenue Financial planning of the CFO suite How do you view the responsibility of the CFO suite? Post Series B, it becomes a full-time job to support strategic planning. Accounting ?—?Nearly Recruiting ?—?Startups

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CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 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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Nonprofit Accounting Profit and Loss Budgeting 52