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. Consult your CPA or fractional CFO if you are unsure of your effective tax rate. Financial planning for cannabis companies.

Forecasting

CFO Share

JUNE 27, 2024

How a CFO Ensures Compliance in Financial Reporting Reliable financial statements are crucial for business management, but ensuring compliance may feel like a luxury in the resource-constrained world of small business. How can a small business ensure compliance in reporting without overspending on accounting staff and audits?

Financial Reporting

The Charity CFO

APRIL 5, 2022

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. So if you expect to grow or search for new sources of funding, you’ll probably need to graduate to accrual-basis accounting. Need to get Your Accounting in Order? appeared first on The Charity CFO.

Nonprofit

The Finance Weekly

DECEMBER 18, 2021

The job description for a financial controller and a CFO are eerily similar. A controller (or comptroller in government roles) is the company’s lead accountant and the one in charge of running day-to-day activities of the accounting department. According to Payscale , the average salary for a CFO is 1.5

CFO

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. . The #1 accounting mistake that nonprofits make is hiring the wrong people to help them.

Nonprofit

Future CFO

JULY 21, 2024

The global accounting body also calls for finance professionals to ensure that AI governance and AI risk management are in place, beginning with investing in AI literacy and skills development. Attracting and retaining qualified professionals with the right skillsets remains a challenge," he says.

Finance

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

Boston Startup CFO

OCTOBER 29, 2012

Are you prepared to manage the day-to-day of your startup, from recruiting new talent to bookkeeping to financial planning? 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.

Startups

The Charity CFO

OCTOBER 9, 2024

This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles. The Impact of GAAP on Integration Efforts We’ve mentioned GAAP several times, but why do these principles affect integration so much? The short answer: these two datasets serve different purposes.

Accounting

Future CFO

APRIL 18, 2022

It also helps finance teams deliver financial results, create informative financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics. It enables finance teams to automate and accelerate the financial close with minimal IT support. DOWNLOAD NOW.

Finance

CFO Plans

AUGUST 5, 2020

By Fizal Meera, Associate Controller – CFO Plans. Note: This article is meant for non-accounting business professionals with minimal or no accounting knowledge). Accounting principles. Companies plan their overheads to match the revenue. You may have heard of prepaid income or perhaps unearned income.

General Ledger

The Charity CFO

JANUARY 19, 2023

Because of their unique structure and operational model, nonprofits must comply with various accounting standards that are, in many ways, different from for-profit organizations. In the United States, these Generally Accepted Accounting Principles (or GAAP) are set by the Financial Accounting Standards Board (FASB).

Accounting Standards

The Finance Weekly

APRIL 21, 2024

What could go wrong if your Chief Financial Officer (CFO) is not effective in their job? What CFOs are Capable of Doing? Being a CFO is a top-tier position where you team up with the CEO and other leaders to steer a company toward success. Spot investment and financial planning prospects.

CFO

Boston Startup CFO

APRIL 3, 2023

They prepare the income statement, balance sheet, and statement of cash flows using the accrual accounting method. Familiarity with Generally Accepted Accounting Principles (GAAP) is essential. Leave the Minotaur of financial confusion in your wake as you sail towards success, guided by the wisdom of skilled Fractional CFOs.

Accounting

Spreadym

AUGUST 10, 2023

The best financial reporting software solutions , Spreadym : an easy-to-use platform that is widely used for financial planning and analysis. QuickBooks: A widely used accounting software that offers robust financial reporting capabilities, suitable for small and medium-sized businesses.

Financial Reporting

The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Transitioning to accrual-basis accounting can offer a more accurate representation of finances and enhance long-term planning. Get the free guide!

Nonprofit

Future CFO

SEPTEMBER 15, 2021

An understanding of the Generally Accepted Accounting Principles (GAAP) and of compliance with them. Experience working with enterprise resource planning (ERP) tools. In addition to Greater Mumbai, Gurgaon and Bengaluru — the Indian cities of Chennai, Delhi, Pune and Hyderabad are good options for this skill. Knowledge of GAAP.

Finance

The Charity CFO

APRIL 13, 2023

This is why at The Charity CFO , we strive to provide relevant resources and support to ensure that your organization runs smoothly and efficiently. Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). Reach out to us here for a free consultation.

Nonprofit

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. Get the free guide!

Nonprofit

Planful

JUNE 22, 2017

But in the accounting world, “financial consolidation” is a well-defined process that includes several complexities and accounting principles. Here are the key accounting consolidation steps in the finance consolidation process : Collecting trial balance data (e.g.,

Accounting

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.

Nonprofit

CFO News Room

NOVEMBER 2, 2022

But by being aware of the varying requirements and filing documents in an accurate and timely manner, new firms can navigate their way through the registration process and (finally) begin offering planning services to clients! Author: Chris Stanley. Guest Contributor. Some states (e.g.,

Compliance