CFO Share

AUGUST 5, 2021

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. Even worse, an IRS income tax return does not follow the same rules as GAAP. According to IRS memorandum no.

Forecasting 96

Forecasting GAAP Profit and Loss Accounting Principles 96

The Charity CFO

JANUARY 13, 2022

Accounting for in-kind donations isn’t just important; it’s required for many nonprofit organizations. . Prepare financial statements per Generally Accepted Accounting Principles (GAAP). For the purposes of GAAP, donations of goods and services are valid revenue. Submit to an annual audit.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

Cube Software

MAY 10, 2023

This could be retail stores offering layaway plans or a media company offering subscriptions to streaming services. Besides the wasted time involved in chasing down and correcting incorrect revenue recognition, it creates issues with meeting the Generally Accepted Accounting Principles (GAAP) standard for financial reporting.

GAAP 52

GAAP Profit and Loss Accounting Principles Financial Data 52

CFO News Room

NOVEMBER 2, 2022

The Client Relationship Summary (also known as “Form CRS”) is only applicable to SEC-registration applicants that serve retail investors (with the odd exception of advisers seeking state registration in Rhode Island ) and is also a wholly-narrative document to be uploaded to the IARD system in a text-searchable PDF format.

Compliance 130

Compliance GAAP Investments Advertising 130