The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? 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. Benefits of Nonprofit Accounting Services. Saves time and money.

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The Charity CFO

DECEMBER 8, 2022

But in order to get the most out of these grants, you need to understand how to properly manage and account for them. 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. 8 Best Practices When Accounting For Grants.

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Accounting Nonprofit Auditing Compliance 52

CFO Leadership

OCTOBER 18, 2023

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. However, they still have a place in corporate finance and accounting. However, LLMs also have inherent weaknesses.

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CFO Share

JULY 27, 2023

Automation of Routine Accounting Tasks AI can automate repetitive and manual tasks, allowing CFOs to focus on higher-value activities and strategic initiatives. Part-time CFO services can help your business take the best decisions based on the outputs given by AI.

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CFO Data Analysis Analyzing Data Risk Management 40

CFO News Room

DECEMBER 16, 2022

Chief Financial Officer. As a financial executive, the chief financial officer (CFO) is responsible for the financial health of an organization. The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management.

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The Charity CFO

DECEMBER 7, 2023

Welcome back to the Modern Nonprofit Podcast at The Charity CFO. Today, the show hosts someone very special to Charity CFO and that is the group’s very own partner & COO, Tim Hudson. Talent Shortages & Turnover It’s no secret that there is an accounting shortage in the industry today.

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Nonprofit Auditing Budgeting CFO 52

Future CFO

MAY 5, 2024

Boardroom leadership, including chief financial officers, needs to manage artificial intelligence risks to drive trust, according to the Association of Chartered Certified Accountants. Introducing AI is both about trust in the systems and trust in the people that we work with, and how we bring those two elements together.,"

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The Charity CFO

SEPTEMBER 14, 2022

It’s true that due to their uniquely valuable societal contributions, such as charitable actions or educational priorities, nonprofits receive tax exemption for income from activities substantially related to their primary purpose. . Don't hire the wrong accountant for your nonprofit! But what if I told you that’s not always true?

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CFO Talks

OCTOBER 19, 2022

. ‘ A mindset focused on delivering results ‘ Welcome to the CFO Club Africa podcast, where we interview leading CFOs from Africa and beyond. CFO Club Africa is a division of the Chartered Institute of Business Accountants, the professional body for business accountants, financial managers and chief financial officers.

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CFO Education Finance Accounting 52

The Charity CFO

FEBRUARY 27, 2023

First things first: Treasurers aren’t accountants. A position to oversee finances may sound a lot like an accountant, but there are important distinctions between the two. Many nonprofits do not have in-house accountants and choose to outsource instead. As previously mentioned, a treasurer is not the same as an accountant.

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Nonprofit Compliance CFO Leadership 52

The Charity CFO

MARCH 13, 2023

million nonprofits in the United States, there are countless organizations available to provide shelter, medical assistance, and education, you name it! Fundraising ideas will impact your accounting When raising money through fundraising, you need to consider how this affects your nonprofit’s accounting. With over 1.3

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Planful

MARCH 18, 2019

The financial reporting manager must be able to clearly explain specific financial concepts at a high level for busy executives. FP&A teams can do so by leveraging these four essential types of financial reports techniques. Department Budget vs. Actual Reports.

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Financial Planning and Analysis (FP&A) Financial Reporting Cash Flow Forecasting Budgeting 40

The Charity CFO

JUNE 7, 2023

Louis for 40 years providing resources, education, and support to serve those affected by asthma and allergies. Our educational programs and advocacy also reach families, schools, and nurses all over Missouri and Illinois. The financial piece of this is the mission of The Charity CFO.

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Nonprofit CFO Leadership Education 52

The Charity CFO

NOVEMBER 30, 2023

Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit. This guide will help you better understand the common mistakes nonprofits make in their accounting systems.

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Nonprofit Auditing Compliance Education 52

The Charity CFO

DECEMBER 8, 2023

Software helps ensure transparency and accuracy in keeping financial records and tracking restricted funds , crucial in maintaining your nonprofit. In this guide, you’ll learn the rules nonprofits must follow when accepting and accounting for donations. The rules for nonprofit bookkeeping and accounting are complex and confusing.

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The Charity CFO

JANUARY 12, 2024

Nonprofits Require Extensive Legal and Accounting Compliance Nonprofits are subject to several layers of federal and state laws and financial reporting standards. Do You Struggle to Make Sense of Your Financial Statements? The post Why You Shouldn’t Start a Nonprofit appeared first on The Charity CFO.

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Nonprofit CFO Healthcare Education 52

The Charity CFO

AUGUST 21, 2023

Operating Reserve Policy: Demystifying Financial Stability The key to stable operations for any organization is an operating reserve. Think about an operating reserve as a sort of savings account and safety net for the nonprofit. At the same time, paint a picture of the organization’s financial goals and needs in the future.

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Nonprofit Communication Education CFO 52

The Charity CFO

APRIL 23, 2024

Only Make Believe (OMB) is a 501c3 organization that creates interactive theater environments for children in hospital, special education, and care facility settings. When it comes to the mission of OMB, they meet children where they are by bringing performances to the care sites or educational systems they are present in.

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Nonprofit Leadership Problem Solving Education 52

CFO Talks

MARCH 14, 2024

Beyond the Basics: 7 Key Focus Areas for New CFOs 1. Introduction to the Evolving Role of the CFO In our previous discussion, we outlined the critical first steps a newly appointed CFO should take to establish a solid foundation within their organization. Delegation and Empowerment: No CFO can do it all alone.

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Prioritization CFO Leverage Risk Management 52

CFO Talks

SEPTEMBER 6, 2022

The CFO needs to be alive to changes’. Welcome to this SAIBA CFO podcast, SAIBA is the South African Institute of Business Accountants, it has more than 12 000 members and specialises in a wide range of disciplines such as accountancy and tax, training and development, career enhancement, legislation, designations and financial reporting.

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Auditing CFO Leadership Math 52

The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. Red Flag #5: No Accountant or Bookkeeper. Preferably someone with some accounting experience. Risk of defaulting on loans .

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The Charity CFO

JANUARY 26, 2023

Start With the Fundamentals of Nonprofit Tax Filing Non-profit organizations operate in many areas of society, including education, healthcare, sports, and social services. NPOs should track all donations, grants, and investments made to their organization to make sure they are properly accounted for.

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Nonprofit Accounting Principles Profit and Loss Auditing 52

The Charity CFO

NOVEMBER 23, 2022

They create and maintain financial records, prepare financial reports, and oversee the organization’s budget. They handle all payroll and accounting functions and manage investments and fundraising efforts. A Bachelor’s Degree In Accounting, Finance, Or A Related Field Is Required. How to verify.

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Nonprofit Finance Strategic Planning Budgeting 52

The Charity CFO

APRIL 13, 2023

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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Nonprofit Compliance Accounting Standards Budgeting 52

The Charity CFO

APRIL 16, 2022

Software helps ensure transparency and accuracy in keeping financial records and tracking restricted funds , crucial in maintaining your nonprofit. . In this guide, you’ll learn the rules nonprofits must follow when accepting and accounting for donations. The rules for nonprofit bookkeeping and accounting are complex and confusing.

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Nonprofit Auditing CFO Accounting 52

The Charity CFO

JANUARY 5, 2023

Maintaining healthy financial management is critical for the organization’s sustainability, stability, and flexibility, now and in the future. Poor financial reporting. They should clarify the roles, authority, and responsibilities for essential financial management activities and decisions. . Timely reporting.

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Nonprofit GAAP Budgeting Auditing 52

The Charity CFO

AUGUST 28, 2023

Take the time to educate them on the committee’s role and responsibilities. These crucial groups can help nonprofits get the big, often complicated financial decisions right to enable them to do the work they care about. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

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Nonprofit Problem Solving Finance CFO 52

The Finance Weekly

OCTOBER 13, 2021

Compliance: Abide by laws regarding environmental regulations, financial reporting, etc. The responsibilities of controllers today extend to more than just accounting and forecasting; FCs are now expected to engage in business administration and financial planning. New FC Competencies and Their Relation to CPM.

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The Charity CFO

MAY 8, 2023

To achieve this, nonprofit organizations should prioritize transparency, authenticity, and accountability in their fundraising efforts. Success in this type of fundraising strategy requires nonprofits to educate donors on the benefits of planned giving and to provide them with clear information about how to make a planned gift.

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Nonprofit Prioritization Communication Planning 52

PYMNTS

JUNE 21, 2019

new reports from The New Yorker this week dove into how the current CFO of the National Rival Association (NRA) allegedly embezzled funds from his last company, employee benefits consulting firm the Wyatt Company. The report claimed that Phillips ultimately embezzled at least $1 million from the company. In the U.S.,

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The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. Categorizing transactions, reporting income, and meeting compliance requirements can be overwhelming. About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services.

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Nonprofit Accounting CFO Auditing 52

Planful

MAY 19, 2021

Here’s just a sample of the benefits available to Planful Champions Club members: Invitations to private networking, educational, and professional development events. Jessica Kirchmaier, Sr Financial Analyst, Finance Systems, Ellucian. Accountant, ACS OpCo, LLC. Lisa Payne, Financial Reporting Manager, Metal Exchange Corp.

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Financial Planning and Analysis (FP&A) Planning Finance CFO 40

Future CFO

SEPTEMBER 14, 2020

The Enron scandal, one of the largest accounting frauds seen over the last three decades, led the company to file for bankruptcy in 2001. These may include accounting, consultancy, and tax services. This came after the firm was involved in various accounting scandals such as those relating to Rolls-Royce and Carillion.

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Auditing Accounting Valuation Education 52

Planful

JANUARY 11, 2022

Finance and accounting professionals will continue to work late into the night. With cloud-based financial data and nearly unlimited processing power, multiple and complex scenarios can be generated instantly. Luckily, Specialized had implemented Planful for worldwide financial reporting and workforce planning four years earlier.

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Financial Planning and Analysis (FP&A) Finance Profit and Loss Reconciliations 40

Generation CFO

JANUARY 5, 2022

Like many finance leaders, Aidana Zhakupbekova, VP Finance at HousingAnywhere , the largest European mid to long-term rental accommodation platform, has worked across accounting, credit control and FB&A spheres. . When I joined, we had an external accountant and several admin staff, but there was no decent reporting.

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Finance Budgeting Corporate Finance Accounting 197

CFO Talks

AUGUST 3, 2022

Welcome to this SAIBA CFO podcast, SAIBA is the South African Institute of Business Accountants, it has more than 12 000 members in the country and specialises in a wide range of disciplines such as accountancy and tax, training and development, career enhancement, legislation, designations, recognition and financial reporting.

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CFO Management Consulting Accounting Education 52

The Charity CFO

MAY 18, 2022

In the case of a large public company, they have highly involved boards of directors to provide an additional layer of financial oversight. But when public funds are at risk (in the form of donations and grants ) an accountability system must be employed to ensure funds are used appropriately. Review annual audit . Get the free guide!

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