Accounting Principles Auditing Budgeting Numbers 
The Charity CFO
APRIL 5, 2022
But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.
The Finance Weekly
APRIL 21, 2024
They could steer your company towards poor financial decisions, like risky investments, inaccurate budgeting, or insufficient cost control. Facilitate risk management, audits, and research. Collaborate with executives and department heads on budget development and oversight. Spot investment and financial planning prospects.
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The Charity CFO
JANUARY 17, 2022
The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique. . Accrual-Basis Accounting. Nonprofit accounting has its own terminology.
The Charity CFO
NOVEMBER 10, 2022
Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. 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.
The Charity CFO
FEBRUARY 4, 2022
Nonprofits must maintain thorough and accurate financial records to comply with both Generally Accepted Accounting Principles ( GAAP ) and maintain their tax-exempt status with the IRS. But here is a list of tasks that some nonprofits push onto their bookkeepers that are instead the role of an accountant. . Bookkeepers do not….
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