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 CFO suite doesn’t want to be the “department of No.” It evolves with stage.

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

CFO Leadership

OCTOBER 18, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.), a model could be trained to become an expert in finance and accounting.

Finance 52

Finance Accounting Auditing IFRS 52

CFO Share

MARCH 14, 2022

Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Reviews of account reconciliations, account aging, and composition. Book an appointment with a CFO today. appeared first on CFOShare.

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Auditing GAAP Accounting Principles Profit and Loss 52

CFO Share

NOVEMBER 15, 2023

An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) What Do Financial Auditors Look For? Auditors assess your financial statements’ accuracy, ensuring they are free of material misstatements. The validity and accuracy of financial transactions and records. The efficacy of internal controls.

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Auditing IFRS GAAP Invoicing 52

CFO Share

NOVEMBER 11, 2023

Similar to depreciation, amortization has different treatment for taxes versus GAAP financial statements. As a result, when given the option, your accountant should amortize an intangible asset faster for taxes and slower for company books. This tactic maximizes book earnings while minimizing tax burdens.

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GAAP Accounting Standards Strategic Planning Compliance 52

Future CFO

DECEMBER 31, 2021

CFOs are the logical candidate to lead the ESG initiative. Their responsibilities already entail ensuring that the financial report is accurate, complete and verifiable, according to GAAP accounting standards and disclosures.

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Leadership Finance GAAP Forecasting 98

The Charity CFO

NOVEMBER 10, 2022

Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. 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. Get the free guide!

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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.

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Nonprofit Auditing GAAP CFO 96

The Charity CFO

MAY 11, 2023

If you’ve decided the outsourced bookkeeping is right for your organization, get in contact with us and see how Charity CFO can help ! The post Outsourced bookkeeping for a nonprofit appeared first on The Charity CFO. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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.

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Accounting Standards Nonprofit Accounting GAAP 52

Michigan CFO

MARCH 21, 2023

In accounting, indefinite lifespan refers to an asset where its rate of capital depreciation isn’t known or cannot be easily calculated. A qualified CFO can provide valuable insight into how to best structure the sale of your business to reduce the amount of taxes you end up having to pay.

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Valuation CFO IFRS GAAP 40

Future CFO

NOVEMBER 2, 2020

Many jurisdictions are moving towards international accounting standards such as International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP). However, APAC and EMEA take a much more localised approach.

Compliance 40

Compliance IFRS GAAP Accounting Principles 40

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. Evaluating the carrying value of intangible assets such as goodwill and intellectual property.

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Finance Strategic Planning Auditing CFO 91

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.

Financial Reporting 52

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

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!

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Nonprofit GAAP Accounting CFO 52

PYMNTS

MARCH 7, 2016

The personalization function operates with the basic building block of the traditional Salesforce platform, and then the CFO or other finance professional can use other forms to move across functions, through preset templates (if desired), dealing with financial minutiae as varied as customer collections, revenue recognition and logistics.

GAAP 40

GAAP Profit and Loss Invoicing Accounting Standards 40

CFO Dive

NOVEMBER 10, 2023

Accounting standards and financial statements play key roles in the $250 million civil fraud case against former President Trump.

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GAAP Accounting Standards Accounting 203