The Charity CFO

MARCH 9, 2023

The accounting industry currently and historically does have a diversity problem. According to the most recent AICPA Trends Report (2021) , 41% of accounting graduates are nonwhite while only 23% of professional staff identify as nonwhite. Encourage mentorship and engagement of young accountants and CPAs of all backgrounds.

Accounting 52

Accounting Nonprofit Leadership Management Consulting 52

CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. They’re not very good at mathematics or dealing with numbers in general.

Finance 52

Finance Accounting Auditing IFRS 52

E78 Partners

MARCH 23, 2023

When your team is stretched thin, outsourcing your finance and accounting services can be an effective solution, allowing you to focus on core competencies and achieve long-term growth for your company. We’ve compiled the top five signs that it’s time to outsource your finance and accounting services.

Accounting 52

Accounting Finance Budgeting Securities 52

CFO Share

JULY 20, 2021

What does a Forensic Accountant Do? Forensic accounting services investigate the disappearance of cash in a business, document definitive proof, and assist in the recovery of cash including negotiation, prosecution, and expert witness testimony. When should business owners engage forensic accounting services?

Accounting 52

Accounting Profit and Loss Auditing Invoicing 52

PYMNTS

AUGUST 16, 2020

Trintech , which works in integrated Record to Report software, is releasing Cadency 9.0, the newest update to its software, to help companies with faster account reconciliation, artificial intelligence, systems integration and more, a press release says. According to experts, spending on AP automation is set to jump from around $1.9

Accounting 67

Accounting Reconciliations Auditing Financial Reporting 67

PYMNTS

JULY 2, 2018

Financial Reporting Council’s Financial Reporting Lab has released a new report on the potential applications of blockchain in the corporate accounting space. According to reports, the group is taking a cautious approach to the technology.

Financial Reporting 40

Financial Reporting Corporate Finance B2B Finance 40

PYMNTS

JUNE 11, 2020

With market volatility and economic pressure higher than it has been in more than a decade, the ways businesses manage and account for their money is inevitably included in that wave of operational change. That means significant implications for the ways accountants and auditors operate both within an enterprise and externally from it.

Economics 77

Economics Accounting Auditing Forecasting 77

PYMNTS

NOVEMBER 28, 2017

In today’s fast-paced business environment, the mad dash at the end of every month to close the books is hardly beneficial to today’s entrepreneur – or her accountant. “That forces the accountant to get into a phase of just trying to get it done. . “The news is about 30 days old at best.”

Financial Reporting 45

Financial Reporting Accounting Benchmarking Forecasting 45

PYMNTS

JULY 11, 2019

s so-called Big Four accountancy firms — KPMG, PwC, EY and Deloitte — have reportedly failed to reach audit quality standards set by the Financial Reporting Council , Reuters reported this week. The FRC said accountants are failing to take a tougher stance with their clients and question information given to them.

Auditing 49

Auditing Accounting Financial Reporting Accounting Firms 49

PYMNTS

JANUARY 9, 2019

One way this shift has materialized is in how small businesses seek and hire financial professionals to join their companies. In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers.

Accounting 71

Accounting Corporate Finance Accounting Firms Auditing 71

PYMNTS

JUNE 20, 2018

’s accounting watchdog, the Financial Reporting Council (FRC), has now levied more fines in two days than it has in the entirety of 2017, according to Bloomberg reports on Tuesday (June 19). Parliament committee found, adding that the FRC identified issues with Carillion accounts in 2015, but failed to act on them.

Accounting 49

Accounting Auditing Financial Reporting Numbers 49

PYMNTS

AUGUST 1, 2019

s Big Four corporate accountancy and auditing firms — Deloitte, PwC, KPMG and EY — saw nearly three times as many fines last year as they did in 2017, according to the Financial Times. The publication reported Wednesday (July 31) that the Big Four were hit with a combined $52.3 million and $15.8 million and $15.8

Accounting 43

Accounting Auditing Financial Reporting Numbers 43

Planful

MARCH 18, 2019

The FP&A team is numbers-oriented, but also requires a great deal of communication skills. 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.

Financial Planning and Analysis (FP&A) 40

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

PYMNTS

JUNE 10, 2019

Certified Professional Accountants (CPAs) in California are calling on an industry watchdog to clarify standards for cryptocurrency accounting, with expectations that corporations will increase their use of cryptocurrencies moving forward. GAAP,” the letter stated.

Accounting 51

Accounting IFRS GAAP Accounting Standards 51

CFO News Room

DECEMBER 16, 2022

Out of all the finance jobs available to college graduates, financial managers are some of the highest-paying, with high demand for workers in this field. Bureau of Labor Statistics, employment numbers for Financial Managers are expected to rise by 17% over the next decade , faster than the average for all occupations.

Finance 130

Finance Budgeting Compliance Financial Analyst 130

The Charity CFO

APRIL 12, 2022

Their budget projected a surplus, and they were hitting those numbers. After all, their financial reports showed they had much more revenue than expenses. They were hitting their budget numbers month after month. Why did reality not match up with the numbers in their financial statements ? But why, exactly?

Nonprofit 105

Nonprofit CFO Accounting Accounts Payable 105

Planful

SEPTEMBER 14, 2021

5 discussions of finance and accounting techniques. These keynotes, hands-on sessions, stories, chats, and trainings—by and for finance and accounting professionals—served as a fitting kickoff to this two-day online conference. Planful Perform 2021 Day 1 just concluded and the stats speak for themselves: 2 keynotes.

Financial Planning and Analysis (FP&A) 40

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

Creative CFP

OCTOBER 2, 2020

A couple of years into my career as a chartered accountant I started to wonder if I was still enjoying working in the finance industry. I was so consumed with day-to-day accounting tasks that I did not have time to monitor the financial health of businesses I was taking care of, or to provide valuable feedback to business owners.

Accounting 52

Accounting Finance Cash Flow Forecasting General Ledger 52

The Finance Weekly

APRIL 21, 2024

CFOs rely on robust finance and accounting expertise, backed by years of experience, to boost the organization's financial health. In their capacity, CFOs usually: Engage with departments such as accounting, customer service, and finance. Address accounting and finance issues.

CFO 52

CFO Budgeting Auditing Accounting Principles 52

CFO Share

MARCH 15, 2024

Bookkeeping’s role here is pivotal: Track and Manage: bookkeeping is more than noting numbers – bookkeeping ensures a seamless flow of cash receipts and meeting vendor and payroll obligations timely. From entering bills to analyzing financial reports, consistent oversight ensures you’re always on top of your finances.

Invoicing 52

Invoicing Cash Management Compliance Finance 52

CFO Simplified

AUGUST 14, 2022

Watch Larry Chester, President of CFO Simplified and financial savant explain how to build back a good relationship with your bank so you can be bankable again in the video below. . Produce stable, timely financial reports. Ensure your balance sheet accounts are in line. Positive cash flow.

Banking 98

Banking Profit and Loss CFO Financial Reporting 98

The Finance Weekly

MARCH 25, 2024

His main job is to handle all money matters at SoFi, like planning, accounting, and dealing with investors. He held the position of Chief Financial Officer (CFO) at CBS Corporation, a major media player, for a good number of years. They also pitch in on major financial moves like mergers and fundraising.

CFO 97

CFO Finance Forecasting GAAP 97

https://trustedcfosolutions.com/feed/

FEBRUARY 11, 2023

Having the right strategies in place helps open up new opportunities while preventing major roadblocks in your financial reporting. A continuous close turns what once was a lengthy activity, into an independent process that seamlessly runs in the background, keeping accounts up to date.

Accounts Payable 62

Accounts Payable Reconciliations Leverage CFO 62

The Charity CFO

NOVEMBER 3, 2022

The Form W-9, also called the “Request for Taxpayer Identification Number and Certification” is a form used when your nonprofit needs to provide its taxpayer identification number (TIN) to another requesting organization. Box 5 provides a field for the organization’s street number, street name, and interior number.

Nonprofit 98

Nonprofit CFO Numbers Accounting 98

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

The Finance Weekly

NOVEMBER 8, 2022

As the number and quality of software tools increases, companies are constantly looking to find better ways to cut down on manual work and increase efficiency. Finance is responsible for a large number of critical operations in a business. Finance is responsible for a large number of critical operations in a business.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) Finance Accounts Payable Invoicing 98

The Charity CFO

MARCH 27, 2024

QuickBooks is a popular accounting software used by businesses and individuals nationwide. And you might be wondering if you can use QuickBooks for your nonprofit accounting. For-profit businesses often don’t have to follow the strict accounting rules of an exempt organization. Nonprofits also need to record expense receipts.

Nonprofit 40

Nonprofit Accounts Payable Compliance Invoicing 40

https://trustedcfosolutions.com/feed/

MARCH 26, 2023

Reconcile accounts: Once you’ve reviewed all transactions, you’ll need to reconcile and account for all transactions. This involves matching the balances in your general ledger to the balances in your bank statements and other financial records. Make sure everything is accurate and there are no discrepancies.

General Ledger 62

General Ledger Accounting Invoicing Financial Data 62

The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

The Charity CFO

APRIL 29, 2022

A financial statement audit is a thorough review of your financial statements to determine if your financial statements present fairly, in all material respects, in accordance with generally accepted accounting principles. The purpose of a financial statement audit is NOT to detect fraud.

Nonprofit 105

Nonprofit Auditing General Ledger Reconciliations 105

Future CFO

NOVEMBER 17, 2022

When it comes to cashflow visibility, under 4% of the 1,483 business leaders and finance and accounting executives from different countries report complete confidence, said Blackline recently.

Finance 96

Finance Financial Data Economics Budgeting 96

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.

Nonprofit 52

Nonprofit Compliance CFO Leadership 52

https://trustedcfosolutions.com/feed/

FEBRUARY 9, 2023

Enriched Financial Reporting With Drillable Dashboards Role-based, custom dashboards help auditors get to key information faster. With an auditor-specific dashboard, you’ll be able to tailor the reports, charts, and data shown in a quick-to-digest format, delivering more comprehensive and relevant information to the auditor.

Auditing 57

Auditing CFO Compliance Accounting 57

The Charity CFO

MAY 31, 2022

Even on nonprofit financial committees, some members may be skilled in accounting, others in banking, and others in investing or financial analysis. But if you bring zero experience in accounting or financial management to your organization, that’s okay. Because the basics of nonprofit finances are easy to grasp.

Nonprofit 98

Nonprofit Finance Auditing Accounts Payable 98

The Finance Weekly

FEBRUARY 23, 2022

A study by the University of Baltimore and Excel-based FP&A company, , DataRails , lays out the full economic costs of businesses sticking with manually prepared financial reports. billion is the first number that came out of the research and this represents the total amount of money lost by manual financial work.

Financial Planning and Analysis (FP&A) 83

Financial Planning and Analysis (FP&A) Profit and Loss Budgeting Math 83

CFO Simplified

SEPTEMBER 11, 2023

I think that the Statement of Cash Flows is the disrespected stepsister of financial reporting, much like Cinderella. So, let’s look to see how this Cinderella report can help you plan for and understand your use of cash. The Statement of Cash Flows isn’t at all about the cash you have sitting idle in your bank account.

Cash Flow Forecasting 52

Cash Flow Forecasting Forecasting Profit and Loss Financial Reporting 52

CFO Simplified

MARCH 7, 2024

There are several exemptions to these new reporting requirements, including an exemption for operating businesses (i.e., accounting firms, SEC registered businesses, insurance companies, and publicly traded corporations).

Tax Planning 59

Tax Planning Compliance Restructuring Treasury 59