The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

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Nonprofit Compliance Accounting Standards Budgeting 52

CFO Leadership

OCTOBER 18, 2023

How to use AI in Finance & Accounting As we look to the future, the role of AI in finance will likely expand. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. a model could be trained to become an expert in finance and accounting.

Finance 52

Finance Accounting Auditing IFRS 52

Future CFO

NOVEMBER 2, 2020

China is the most complex jurisdiction for financial compliance in Asia Pacific while Hong Kong is the easiest, said TMF Group recently. For example, 70% of jurisdictions in South America mandate electronic transaction reporting, yet this is only the case for two jurisdictions in APAC (15%) – India and South Korea.

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Compliance IFRS GAAP Accounting Principles 40

The Charity CFO

DECEMBER 8, 2022

The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes.

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Accounting Nonprofit Auditing Compliance 52

The Charity CFO

DECEMBER 15, 2023

Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. Not only does it help with transparency in your organization, but properly recording revenue keeps you in compliance with nonprofit regulations. Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Compliance CFO Valuation 52

The Charity CFO

AUGUST 15, 2023

Myth #3: Nonprofit Accounting (GAAP) and the IRS Rules are the Same Another common misconception is that GAAP and IRS rules are the same when it comes to nonprofits, however, they are not. One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990.

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Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

NOVEMBER 10, 2022

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. Governance issues, tight regulations, and high public accountability standards mean strong accounting practices are more important than ever.

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Nonprofit Accounting Auditing GAAP 52

The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). At the very least, you must have transparent financial reporting. 4 Steps NPOs can do to improve their financial planning.

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Planning Auditing Nonprofit Accounts Payable 52

The Charity CFO

MAY 11, 2023

As regulations surrounding nonprofits can be incredibly complex, expert guidance on financial matters, including compliance with tax laws and regulations, is key. When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help. Get the free guide!

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Nonprofit Communication Auditing GAAP 52

The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. 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.

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Accounting Standards Nonprofit Accounting GAAP 52

Fpanda Club

SEPTEMBER 2, 2021

FP&A vs financial controlling Working closely with accounting function, financial controllers ensure compliance of reported results with accounting standards, legislation and regulations, develop and document policies and procedures of the internal control in the organization, participate in financial reporting, budgeting and forecasting.

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Financial Planning and Analysis (FP&A) Corporate Finance Communication Budgeting 130

Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have.

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Financial Reporting Financial Planning and Analysis (FP&A) CFO Accounting Standards 52

VCFO

NOVEMBER 1, 2023

Assessing Accounting For entities preparing GAAP compliant financial statements, adoption of Revenue Recognition Standard (ASC 606) and Lease Accounting Standard (ASC 842) is now mandatory. Changing how revenue is reported impacts EBITDA and also balance sheet items such as deferred revenue and deferred expenses.

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Finance Strategic Planning Auditing CFO 91

Bramasol

MARCH 24, 2022

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? For more details, read the SEC fact-sheet Enhancement and Standardization of Climate-Related Disclosures.

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Accounting SAP Analyzing Data IFRS 83

The Finance Weekly

APRIL 28, 2024

Also, the subscription service comes with cool features such as follows: Keeping tabs on inventory Sorting out your books Sending out invoices smoothly Managing payroll Dishing out financial reports Linking up with other apps for a seamless workflow Plus, you can share access with different permissions for your team.

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Financial Planning and Analysis (FP&A) Invoicing Budgeting Finance 52

Spreadym

JULY 10, 2023

The financial close process, also known as the accounting close process or month-end close, is a series of steps undertaken by an organization to finalize its financial records for a specific accounting period. The financial close process is crucial for ensuring accurate and reliable financial reporting.

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Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

CFO Talks

DECEMBER 26, 2021

SAIBA’s CEO, Nicolaas van Wyk, provides interesting feedback from the recent CFO World Congress in Mexico, how developments at COP26 will soon change a CFO’s reporting obligations, and the trends for CFOs going into 2022. CFO Talks is a brand of the South African Institute of Business Accountants. You’ve mentioned the PIC.

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CFO Profit and Loss Finance Accounting 40