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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. This makes them versatile tools in various fields such as education, customer service, and even creative writing. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 95
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7 Keys to Nonprofit Financial Management

The Charity CFO

This is why at The Charity CFO , we strive to provide relevant resources and support to ensure that your organization runs smoothly and efficiently. This week, we’ve rounded up 7 keys to nonprofit financial management. This establishes core accounting standards for nonprofits which help with accountability and transparency.

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Top 5 Mistakes Caught in a Nonprofit Audit

The Charity CFO

Revenue recognition is even more complicated than ever thanks to the changes in how FASB (Financial Accounting Standards Board) now requires nonprofits to record donations. When it comes to your organization’s accounting, it’s not worth the risk to do it all by yourself. That’s where The Charity CFO can help.

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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. This makes them versatile tools in various fields such as education, customer service, and even creative writing. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 52
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Fund Accounting for Nonprofits & Charities

The Charity CFO

Most not-for-profit organizations and entities–like 501(c)(3) charities, churches, religious institutions, government agencies, nonprofit nursing homes and hospitals, and educational institutions– are required to use fund accounting. If you’re looking for info on fund accounting in government here is a great resource for you.

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Nonprofit Accounting Services: The Right Solution

The Charity CFO

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. 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.

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Best Practices when Accounting for Grants

The Charity CFO

A nonprofit grant is a type of financial assistance that your organization receives from government agencies, foundations, corporations, businesses, individuals, or educational institutes for a nominated project, program, or initiative. Develop strong financial reporting procedures. What is a Grant? Get the free guide!