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Accounting Principles Related Topics 
Bramasol
JUNE 10, 2022
One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Asset Accounting (FI-AA). Inventory Accounting (MM and ML).
CFO News Room
MAY 20, 2022
The EBITDA margin is considered to be a good indicator of a company’s financial condition because it evaluates a company’s performance without needing to take into account financial decisions, accounting decisions or various tax environments.
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CFO News Room
APRIL 3, 2022
generally accepted accounting principles , or GAAP, assets that are considered “impaired” must be recognized as a loss on an income statement. generally accepted accounting principles (GAAP) assets considered impaired must be recognized as a loss on an income statement.
CFO News Room
APRIL 3, 2022
The generally accepted accounting principles (GAAP) require American-based companies to adhere to uniform reporting standards that govern accounting in the U.S. must follow GAAP when their accountants compile their financial statements to file with the U.S.
CFO News Room
MARCH 25, 2022
Journal entries are recorded for contingent liabilities, with a credit to the accrued liability account and a debit to the liability-related expense account. A business accounting journal is used to record all business transactions. What Are Contingent Liabilities in Accounting?
The Charity CFO
DECEMBER 30, 2021
Don't hire the wrong accountant for your nonprofit! 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.
CFO News Room
MARCH 14, 2022
Depreciation accounts for decreases in the value of a company’s assets over time. In the United States, accountants must adhere to generally accepted accounting principles (GAAP) in calculating and reporting depreciation on financial statements.
The Charity CFO
JANUARY 18, 2022
Zack joins us after two decades as a not-for-profit accountant in both public accounting and the nonprofit industry. In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices.
Future CFO
APRIL 18, 2022
Finance organizations regularly face the challenges of meeting strict deadlines and satisfying data quality requirements for closing the books and delivering accurate financial statements.
CFO News Room
MAY 19, 2022
must adhere to Generally Accepted Accounting Principles ( GAAP ), which are accounting standards issued by the Financial Accounting Standards Board (FASB). Single-Step vs. Multiple-Step Income Statements: An Overview.
CFO News Room
MAY 6, 2022
Accrual Accounting vs. Cash Basis Accounting: An Overview. The main difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized. Accrual Accounting. Under this method, revenue is accounted for when it is earned.
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CFO News Room
APRIL 11, 2022
One of the concepts that can give non-accounting (and even some accounting) business folk a fit is a distinction between goodwill and other intangible assets in a company’s financial statements. Goodwill vs. Other Intangible Assets: An Overview.
CFO News Room
MARCH 22, 2022
generally accepted accounting principles (GAAP). The segment accounted for nearly 59% of Canopy Growth’s total revenue for the quarter. The segment accounted for all of the company’s gross profit during the quarter. Canopy Growth Corp.
The Charity CFO
APRIL 5, 2022
If you’re like many people, you probably think that there is a single set of accounting rules that every company must follow. . So which accounting method is right for you? Is your nonprofit required to use accrual accounting? Cash vs. Accrual Accounting: What’s the difference?
CFO Share
MARCH 14, 2022
Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Significant and/or unusual accounting policies such as: Changes in accounting methods.
CFO Share
AUGUST 5, 2021
The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Hence you need good cannabis accounting to defend yourself in audit.
CFO News Room
MAY 21, 2022
Its results, filed in accordance with generally accepted accounting principles (GAAP), show that the company earned $42.5 Berkshire Hathaway Inc. BRK.A ) released its 2020 annual report on Feb.
The Charity CFO
MAY 10, 2022
If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. Check out our blog on accounting for in-kind donations for more details.
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. Who’s Required to Use Fund Accounting? . What is fund accounting? .
The Charity CFO
APRIL 29, 2022
A financial statement audit is a thorough review of your financial statements to determine if your financial statements present fairly, in all material respects, in accordance with generally accepted accounting principles. Do your bank account and/or loan balances look accurate?
The Charity CFO
JANUARY 31, 2022
Like all nonprofit financial statements , the central role of the Statement of Activities is to provide transparency and accountability to your donors and board. If you use cash-based accounting, you’ll only record cash deposited into your bank during the reporting period. .
The Charity CFO
JANUARY 17, 2022
If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. with this overview of nonprofit accounting basics. . What is nonprofit accounting? Don't hire the wrong accountant for your nonprofit! Accounts receivable.
The Charity CFO
FEBRUARY 4, 2022
Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. Allocate revenue and expenses to restricted fund accounts .
The Finance Weekly
FEBRUARY 20, 2022
Or perhaps your integrated cash flow reports are based on GAAP accounting principles rather than formulas, but your existing planning and forecasting software application doesn't support them.
CFO News Room
MAY 19, 2022
EBITDA can be used as a proxy for free cash flow because it accounts for the non-cash expenses of depreciation and amortization. GAAP, or generally accepted accounting principles , outlines rules and conventions for reporting financial information.
Future CFO
MARCH 30, 2021
Yes, they all follow the same accounting principles, manufacturing processes follow the same workflow, and likely they compete for the same customers. But while they will all use the same business software to operate efficiently, successful entrepreneurs, businesspeople, and CFOs see their strategies as unique requiring a different way of accounting, process and innovation. Every business is unique even if the customer or industry is the same.
CFO News Room
APRIL 30, 2022
Also known as accounts receivable , this represents money owed to the company by customers. This is an internal report that stays in the accounting department.
The Charity CFO
FEBRUARY 25, 2022
If you’re brand new to nonprofit accounting, the Chart of Accounts might be the best place to start. Because even if you only have one bank account, bill, investment, or expense, you’ll need one. What is a Chart of Accounts? What goes on the Chart of Accounts?
CFO News Room
APRIL 17, 2022
Absorption costing and variable costing are methods used to value companies’ work in progress and inventory, for accounting purposes. For reporting purposes, absorption costing is required under the Financial Accounting Standards Board’s Generally Accepted Accounting Principles (GAAP).
The Charity CFO
JANUARY 13, 2022
But accounting for in-kind donations presents its own unique challenges. In this article, we’ll dig into how to account for in-kind donations on your nonprofit’s books. Why accounting for in-kind donations matters. How accounting for in-kind gifts works .
CFO News Room
FEBRUARY 27, 2022
Securities and Exchange Commission ( SEC ) and does so in accordance with generally accepted accounting principles ( GAAP ). The segment accounts for nearly 71% of the company’s total revenue and nearly all of its adjusted EBITA. Alibaba Group Holding Ltd.
CFO News Room
FEBRUARY 19, 2022
Retail and commercial banking —Banks provide deposit accounts, mortgages, loans, credit cards, and debit cards. Other financial services —Other areas of the financial industry include careers in accounting, tax preparation, payment processing, and software development.
CFO Leadership
AUGUST 12, 2021
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. Indri holds a bachelor’s degree in Accounting and a Master’s degree in Professional Accounting from the University of Texas at Austin.
CFO Plans
AUGUST 5, 2020
Note: This article is meant for non-accounting business professionals with minimal or no accounting knowledge). Accounting principles. By Fizal Meera, Associate Controller – CFO Plans.
The Finance Weekly
DECEMBER 18, 2021
A controller (or comptroller in government roles) is the company’s lead accountant and the one in charge of running day-to-day activities of the accounting department. The job description for a financial controller and a CFO are eerily similar.
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