How Compliance Rules Vary For State- Vs SEC-Registered RIAs

CFO News Room

Chris Stanley is the Founding Principal of Beach Street Legal LLC, a law practice and compliance consultancy whose sole purpose is to help entrepreneurial investment advisers and financial planners succeed. Compliance policies and procedures manual. Executive Summary.

Reporting Requirements of Contingent Liabilities and GAAP Compliance

CFO News Room

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. GAAP Compliance.

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CFO Leadership Council Highlights Our First 10 DEI Ascend Honorees

CFO Leadership

The CFO Leadership Council proudly highlights our very first ten Diversity, Equity, and Inclusion Ascend Honorees! The Ascend program is an opportunity for Senior Finance Executives from underrepresented groups to join The CFO Leadership Council. About The CFO Leadership Council.

The most and least complex jurisdictions for financial compliance in APAC

Future CFO

China is the most complex jurisdiction for financial compliance in Asia Pacific while Hong Kong is the easiest, said TMF Group recently. China’s financial environment is the region’s most complex, followed by Vietnam, South Korea, Malaysia and Indonesia, according to TMF Group’s report titled Accounting & tax: The global and local complexities holding multinationals to account.

3 Warning Signs Pointing to Outdated Accounting Software

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As your business grows, your accounting solution should scale and grow with you, but this isn’t the case with older, outdated software. Spreadsheets can only tell you so much at a glance and cannot address complex accounting issues. Compliance is Difficult to Maintain.

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When Does Your Nonprofit Need an Audit?

The Charity CFO

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.

Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

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. Always talk to your CPA to ensure your organization is in full compliance with new regulations.

How Do I Forecast with Tax Code 280E?

CFO Share

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.

What is Quality of Earnings?

CFO Share

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.

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The Basics of Nonprofit Bookkeeping

The Charity CFO

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 .

Nonprofit Audit Checklist (+ Free PDF Download)

The Charity CFO

We won’t deal with other types of nonprofit audits , like compliance audits or governmental audits, which can differ in certain respects. PRO TIP: If your internal team can’t keep up, you can always consider an outsourced nonprofit accounting service to keep your books audit-ready.

Nonprofit Accounting Services: The Right Solution

The Charity CFO

What should you look for when evaluating nonprofit accounting services? Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. Benefits of Nonprofit Accounting Services. Improves compliance.

How to Change Careers to a Financial Sector Job

CFO News Room

Retail and commercial banking —Banks provide deposit accounts, mortgages, loans, credit cards, and debit cards. Typical hedge fund jobs include financial analyst , trader, quantitative analyst , portfolio manager, and regulatory compliance officer. .

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Absorption Costing vs. Variable Costing: What’s the Difference?

CFO News Room

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).

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Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

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 top 10 in-demand shared services skills in the finance function

Future CFO

There are 10 most sough-after shared services skills in the finance and accounting function in the past year, said Gartner recently. Accounting experience. Experience in accounting processes such as accounts payable.

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The 3 Jobs Your Startup Should Outsource

Boston Startup CFO

CFO: If your company has closed a seed round of funding or is earning more than $250K per year, you need a CFO to handle your financial strategy and run your accounting team. Even if you’re not yet funded or earning significant revenue, you may still be in need of CFO services.

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