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Financial Accounting Hierarchy - By JP Puchulu

Boston Startup CFO

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. Tier 3: Advanced Accounting This tier is most relevant for funded or revenue producing startups.

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Highest Paid CFOs in the World in 2024

The Finance Weekly

The CFO plays a key role in ensuring these statements are accurate and in line with standard accounting principles (GAAP). Of course, finance chiefs must ensure timely data for decisions, but success stems from strategic planning and collaboration across the business.

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The best cash flow management software for business

Spreadym

If shortfalls are projected, proactively develop strategies to address them, such as securing additional financing or adjusting expenses. The list of tools that the platform supports is quite broad and it covers operational and strategic planning, budgeting, forecasting, scenario modelling.