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

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. The following are select responses from the finance leaders.

CFO 52

CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

CFO Share

NOVEMBER 15, 2023

As a small business owner or finance manager, it’s crucial to approach this process with a clear plan. This article includes small business accounting tips to prepare for an audit while minimizing its expenses and findings. An audit evaluates: Compliance with accounting standards (GAAP or IFRS.)

Auditing 52

Auditing IFRS GAAP Invoicing 52

The Charity CFO

AUGUST 15, 2023

For accountants, this means the profit-generating strategies and investment ideas you bring to the table are still applicable and can make a massive impact. 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.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 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, 2022

The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. Being clear, consistent, and accountable in your reporting of expenses is a big step toward earning their trust.

Nonprofit 96

Nonprofit Auditing GAAP Accounting Principles 96

The Charity CFO

MAY 11, 2023

Not having up to the minute transparency into your finances can be daunting. You may also choose to outsource certain aspects of your accounting that may require less immediate access. If you’ve decided the outsourced bookkeeping is right for your organization, get in contact with us and see how Charity CFO can help !

Nonprofit 52

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.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 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. The post Strategic Finance Focus at Year-End appeared first on vcfo.

Finance 91

Finance Strategic Planning Auditing CFO 91

The Charity CFO

DECEMBER 28, 2022

You have a primary responsibility to your donors, grantmakers, and other stakeholders to find ways to share these statements while still following the highest accounting standards. It helps you comply with GAAP standards and IRS regulations. This financial report contains three segments: 1. Get the free guide!

Nonprofit 52

Nonprofit GAAP Accounting CFO 52

PYMNTS

MARCH 7, 2016

has announced a spring 2016 update to its key financial management flagship offering in a push to streamline the workflow of finance professionals. GAAP and international accounting standards, is another boon to efficiency, said Bres.

GAAP 40

GAAP Profit and Loss Invoicing Accounting Standards 40