Boston Startup CFO
APRIL 3, 2023
Familiarity with Generally Accepted Accounting Principles (GAAP) is essential. If you lack knowledge in accounting principles, you open yourself up to many potential risks, including inaccurate financial statements which can hinder your ability to make informed decisions.
The Charity CFO
JANUARY 11, 2023
All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. Revenue recognition is an accounting process of properly identifying when income has been earned. Your organization’s accounting method really impacts the timing of recognizing transactions.
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The Finance Weekly
APRIL 21, 2024
Facilitate risk management, audits, and research. Spot investment and financial planning prospects. Working closely with controllers, they make sure to fully comply with government regulations and accounting principles. Oversee cash flow and strategize for financial requirements.
CFO Share
AUGUST 5, 2021
Your strategic business forecasting must include proper considerations for section 280E – this is essential to planning cash flow and avoiding catastrophic tax bills at year-end. Hence you need good cannabis accounting to defend yourself in audit. Financial planning for cannabis companies. What is IRS section 280E?
The Charity CFO
APRIL 13, 2023
In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.
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
JANUARY 5, 2023
When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). A nonprofit budget is a planning document that helps predict expenses, allocate resources, and monitor ongoing operations throughout the year. Make board members accountable. A Nonprofit Budget.
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