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Financial Accounting Hierarchy - By JP Puchulu

Boston Startup CFO

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.

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How to Find the Best FP&A Candidates for Your Team

Spreadym

Financial Planning and Analysis (FP&A) candidates are professionals who specialize in financial planning, budgeting, forecasting, and analysis within an organization. Experience: FP&A candidates may have prior experience in financial analysis, accounting, or related roles.

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7 Keys to Nonprofit Financial Management

The Charity CFO

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.

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When Does Your Nonprofit Need an Audit?

The Charity CFO

It confirms your compliance with federal grant management standards. And, the Office of Management and Budget requires an audit when a nonprofit spends more than $500,000 in federal funds in a year.). It assures outside observers that “the organization’s financial records meet generally accepted accounting principles.”

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IBM Cognos Controller: Financial close management managed by the office of finance

Future CFO

Click on the link to download to discover in detail a list of the benefits that IBM Cognos Controller provide for finance teams: Data collection and validation Reconciliations Workflow and tasks to improve the close cycle Currency conversion Minority interest calculations Inter-company eliminations Group closing adjustments Management adjustments Allocations (..)

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7 Essentials Of Nonprofit Financial Management

The Charity CFO

Tax issues and non-compliance with regulatory requirements. When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). A Nonprofit Budget. A well-formulated budget should focus on the goals and objectives of your organization. Make board members accountable.

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The Basics of Nonprofit Bookkeeping

The Charity CFO

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. On top of that, nonprofit bookkeeping requires staying updated on income tax changes and filing requirements to ensure compliance. .