The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. You need to get a better grasp of your organization’s finances now. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

Strategic Treasurer

MARCH 6, 2023

Episode 243 Becoming a Treasurer Series, Part 24: Languages of Finance: FP&A As we jump back into the Becoming a Treasurer series, we are launching a new sub-series where we will look at the “language of finance.” What are some of the different ways we look at it in finance, accounting as a view of it?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Treasury GAAP 52

The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

Cube Software

MAY 11, 2023

Pro forma statements are financial projections that ask and attempt to answer "what if" questions. What will our finances look like?" The Securities and Exchange Commission (SEC) requires that discrepancies between pro forma and GAAP-compliant financial reports be explained when released to the public.

GAAP 40

GAAP Financial Planning and Analysis (FP&A) Profit and Loss Accounting Principles 40

The Charity CFO

JANUARY 21, 2022

If you’re looking for info on fund accounting in government here is a great resource for you. Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Finance Weekly

APRIL 6, 2024

Understanding the Net Book Value (NBV) of a company's assets is critical for knowing its financial health and potential for future growth. This accounting principle offers an insightful perspective into a business's worth , underlining the importance of financial reporting in today's market dynamics.

GAAP 52

GAAP Accounting Principles Financial Reporting Accounting Standards 52

The Charity CFO

NOVEMBER 10, 2022

Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Sure, your mission should be a priority, but managing finances can’t be neglected either. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. A Nonprofit Budget.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). This establishes core accounting standards for nonprofits which help with accountability and transparency. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 52

Nonprofit Compliance Accounting Standards Budgeting 52

Cube Software

MAY 10, 2023

If a company fails to accurately record its unearned revenue, it could lead to inaccurate financial reporting and create potential legal issues. If revenue is improperly recognized, it will report higher profits than actual. If an issue arises with unearned revenue, it’s important to research and rectify the reports.

GAAP 52

GAAP Profit and Loss Accounting Principles Financial Data 52

The Charity CFO

JANUARY 5, 2022

For example, “salary” is a straightforward line-item on a for-profit financial report. . To complete your IRS 990, you’ll need to report your expenses based on how they fall within 3 categories, they are: . That means you’ll need to present a Functional Expense Report to pass an audit. To build public trust.

Nonprofit 96

Nonprofit Auditing GAAP CFO 96

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 40

Accounting General Ledger IFRS GAAP 40

CFO News Room

NOVEMBER 2, 2022

Along with renewing their registration annually (for both SEC- and state-registered firms), firms face a variety of requirements related to their internal finances, fees, marketing activities, and advisor agreements depending on whether they are SEC- or state-registered. RIA Fee Itemization And Surprise Custody Audits.

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Compliance GAAP Investments Advertising 130