The Charity CFO

APRIL 20, 2023

In today’s digital age, technology has revolutionized almost every aspect of business operations, including accounting and finance. For-profit companies have long used accounting software to track their financial transactions and monitor their bottom lines. Some tools may also provide forecasting based on historical data.

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Nonprofit Accounting Accounting Standards Budgeting 98

PYMNTS

MARCH 6, 2019

Corporate accounting standards are changing, with the Financial Accounting Standards Board adopting new standards in ways companies report on leases, hedging and other financial activity. ’s 9,000 publicly listed companies spiked in 2018 after consistent declines since 2006. In the U.K.,

Corporate Finance 55

Corporate Finance Finance Accounting Standards Accounting Principles 55

Future CFO

NOVEMBER 27, 2023

The Financial Reporting Council (FRC) calls for IFRS 17 disclosures improvements in its recently published IFRS 17 'Insurance Contracts' thematic review.

IFRS 52

IFRS Accounting Standards Performance Measuring Reconciliations 52

Bramasol

SEPTEMBER 29, 2023

According to a PwC 2022 Global Digital CFO Survey , 73% of CFOs agree that digitalization of the finance function is a high priority and already 18.5% Globalization CFOs have long needed to assure compliance with two different standards-setting bodies. The first is the Financial Accounting Standards Board (FASB) in the United States.

IFRS 97

IFRS Technology SAP Compliance 97

VCFO

JULY 22, 2022

ASC 842 is a new accounting standard set forth by the Financial Accounting Standards Board (FASB). These impacts will include major changes to accounting practices and financial reporting, as well as increased scrutiny of contracts, service agreements, and all leases starting now and moving forward.

Accounting 78

Accounting Accounting Standards Economics Advertising 78

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). For nonprofits, however, there is an additional and specific set of standards that organizations must follow, as set out by the FASB 117. Reach out to us here for a free consultation.

Nonprofit 52

Nonprofit Compliance Accounting Standards Budgeting 52

VCFO

MAY 30, 2022

Jose is a senior finance professional with more than 30 years of experience in financial management roles in manufacturing and international energy ventures. Joining vcfo’s Houston market as a Consulting CFO is Jose Perez-Bello. Jose is fluent in both English and Spanish. About vcfo.

CFO 52

CFO Auditing Leadership Financial Modeling 52

The Finance Weekly

APRIL 6, 2024

Understanding the Net Book Value (NBV) of a company's assets is critical for knowing its financial health and potential for future growth. This accounting principle offers an insightful perspective into a business's worth , underlining the importance of financial reporting in today's market dynamics.

GAAP 52

GAAP Accounting Principles Financial Reporting Accounting Standards 52

Fpanda Club

SEPTEMBER 2, 2021

The growing variety and complexity of tasks within the finance function has resulted in the creation of a discipline that is supposed to become a bridge between the finance and business to support decision-making process by leveraging data and technology. This relates to FP&A which stands for financial planning and analysis.

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

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 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

PYMNTS

JANUARY 30, 2020

New lease accounting standards are in effect for publicly traded companies in the U.S. after the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) introduced changes to the way businesses account for their outstanding leases.

Accounting 40

Accounting Accounting Standards Compliance Securities 40

PYMNTS

MAY 3, 2019

Reports in The Wall Street Journal said CFOs are changing the way they benchmark company performance, with potential implications for investors that continue to rely on traditional metrics to assess the state of a company. “Investors could then ask, ‘What are you doing with all this free cash?'”

Accounting 49

Accounting Accounting Standards Benchmarking Financial Reporting 49

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). By managing and planning finances, you can maximize the return of your activities. At the very least, you must have transparent financial reporting.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52

The Charity CFO

NOVEMBER 30, 2023

During the audit, you’ll generally be asked to show: Receipts for purchases Invoices and revenue records Donation records Payroll and other recurring expense reports Supporting documents related to finances With all of the records required, it can be easy to make a mistake. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 52

Nonprofit Auditing Compliance Education 52

The Charity CFO

AUGUST 15, 2023

To support and maintain the organization’s tax-exempt status, nonprofit accountants have to understand and adhere to IRS rules for: Tax-exempt organizations Reporting requirements Maintaining proper documentation Reporting Financial reports and statements provide a transparent view of the organization’s financial performance.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

DECEMBER 15, 2023

A strong in-kind donation recording system will help you stay in compliance with accounting standards for in-kind contributions. Do You Struggle to Make Sense of Your Financial Statements? Establishing an in-kind donation valuation and recording process will help you avoid mistakes when receiving non-monetary donations.

Nonprofit 52

Nonprofit Compliance CFO Valuation 52

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

The Charity CFO

JANUARY 5, 2022

For example, “salary” is a straightforward line-item on a for-profit financial report. . To complete your IRS 990, you’ll need to report your expenses based on how they fall within 3 categories, they are: . Rather, it’s a way of looking at how you spent your money, according to the function that money accomplished.

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Nonprofit Auditing GAAP CFO 96

PYMNTS

OCTOBER 11, 2018

Corporates are gearing up to manage a whole slew of accounting standards changes in the coming years, but one of the more immediate effects involves how leases are recorded on financial statements. Some companies may seek legal advice on adopting the new standards or interpreting loan covenants.

Accounting 49

Accounting Accounting Standards Financial Reporting CFO 49

Future CFO

DECEMBER 17, 2023

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 2, Inventories The post The fundamentals of IAS 2 appeared first on FutureCFO.

Financial Reporting 52

Financial Reporting Accounting Standards Accounting Finance 52

The Finance Weekly

JANUARY 9, 2022

Whether it’s pushing for higher standards due to ideological reasons or in order to give the company a better name, the CFO has the ability to provide the leadership and data to make it happen. CFOs can be the bridge between executives and the finance team in many different ways. What effect does this have on the CFO?

CFO 52

CFO Forecasting Leadership Budgeting 52

Future CFO

MAY 22, 2022

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 16, Leases. The post The fundamentals of IFRS 16 appeared first on FutureCFO.

IFRS 98

IFRS Financial Reporting Accounting Standards Accounting 98

The Charity CFO

MAY 11, 2023

Properly evaluate each company and their credentials before letting go of your financial data. 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. There is no one size fits all solution.

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

Future CFO

APRIL 17, 2022

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 5, 'Non-Current Assets Held for Sale and Discontinued Operations'. The post The fundamentals of IFRS 5 appeared first on FutureCFO.

IFRS 98

IFRS Financial Reporting Sales Accounting Standards 98

Future CFO

OCTOBER 29, 2023

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 21, The Effects of Changes in Foreign Exchange Rates The post The fundamentals of IAS 21 appeared first on FutureCFO.

Foreign Exchange 52

Foreign Exchange Financial Reporting Accounting Standards Accounting 52

The Charity CFO

APRIL 5, 2023

Do You Struggle to Make Sense of Your Financial Statements? Get our FREE GUIDE to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances. Get the free guide! The post Nonprofit Compliance Requirements appeared first on The Charity CFO.

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Nonprofit Compliance Auditing Accounting 52

PYMNTS

DECEMBER 16, 2016

A key part of business life is getting the books closed on time, with clean financial reporting that allows a high-level and granular view of what needs to be done next. This is especially true when multinationals must reconcile data across different accounting standards, such as GAAP and IFRS.

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IFRS Reconciliations GAAP Accounting Standards 74

Future CFO

SEPTEMBER 3, 2023

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 23, Borrowing Costs. The post The fundamentals of IAS 23 appeared first on FutureCFO.

Financial Reporting 52

Financial Reporting Accounting Standards Accounting Finance 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.

Finance 91

Finance Strategic Planning Auditing CFO 91

The Charity CFO

DECEMBER 8, 2022

According to the Financial Accounting Standards Board (FASB) guidelines, a grant should be recognized as revenue when all eligibility requirements have been met by the recipient and there is reasonable assurance that the revenue will be collected. Develop strong financial reporting procedures. Get the free guide!

Accounting 52

Accounting Nonprofit Auditing Compliance 52

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

Future CFO

JUNE 27, 2022

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 8, Operating Segments. The post The fundamentals of IFRS 8 appeared first on FutureCFO.

IFRS 52

IFRS Financial Reporting Accounting Standards Accounting 52

Spreadym

JUNE 27, 2023

This includes analyzing revenue and expense trends, profitability, cost drivers, key performance indicators (KPIs), and financial ratios. Compliance and Regulation: Financial Planning and Analysis ensures compliance with financial regulations, accounting standards, and reporting requirements.

Financial Planning and Analysis (FP&A) 52

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

Future CFO

FEBRUARY 7, 2023

The CSM will absorb some adverse impacts from changes in actuarial or financial assumptions, which directly eroded equity under the previous IFRS 4 standard, said Helena Kingsley-Tomkins, a Vice President and analyst at Moody's in London.

IFRS 52

IFRS Accounting Economics Financial Reporting 52

PYMNTS

MAY 17, 2018

A few key themes emerged from the fallout, however, with analysts citing Carillion as a prime example of how a consolidated auditing market risks lackluster accounting standards, as well as how late payments by large corporates can have detrimental impacts on small suppliers. Both topics, however, have captured headlines for some time.

Auditing 40

Auditing Accounting Standards Construction Accounting 40

Future CFO

SEPTEMBER 5, 2021

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 19 in this short video. The post The fundamentals of IAS 19 appeared first on FutureCFO.

Financial Reporting 40

Financial Reporting Accounting Standards Accounting Finance 40