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.

Nonprofit 52

Nonprofit GAAP Accounting Principles Auditing 52

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.

Accounting 52

Accounting Accounting Principles GAAP Startups 52

The Finance Weekly

APRIL 21, 2024

Facilitate risk management, audits, and research. Working closely with controllers, they make sure to fully comply with government regulations and accounting principles. They Manage to Simplify Reporting Process Do we really have to do detailed accruals every month like we're doing a year-end audit?

CFO 52

CFO Budgeting Auditing Accounting Principles 52

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.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

CFO Leadership

AUGUST 12, 2021

She joined a new executive team to lead strategic alignment and operational transformation of Finance, Information Technology, Meeting & Travel Services, and Facilities Management. Indri Ongko, Controller, Western Technology Investment. Indri Ongko, Controller, Western Technology Investment.

Leadership 98

Leadership CFO Financial Planning and Analysis (FP&A) Finance 98

The Charity CFO

JANUARY 26, 2023

Proper revenue recognition is a core accounting principle that ensures proper financial reporting, ensuring that you remain compliant and maintain donor confidence. You don’t want to make any mistakes that could trigger an audit or even the loss of your 501(c)(3) status.

Nonprofit 52

Nonprofit Accounting Principles Profit and Loss Auditing 52

The Charity CFO

JANUARY 5, 2023

When creating these policies, make sure they’re regularly reviewed and updated to keep up with changing circumstances, technological advances, and regulations. When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Timely reporting. Viability of various projects.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52