The Charity CFO

AUGUST 15, 2023

Myths of Nonprofit Accounting and Why They Matter to Job Seekers Unfortunately, many job seekers fall victim to the stereotypes and believe the myths surrounding nonprofit accounting. In this section, we will debunk the three most common nonprofit accounting myths. Ready to dive deep into this exciting realm?

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

Future CFO

MAY 31, 2023

Technology has made financial reporting easy for everyone involved in the process, from the finance and accounts team preparing reports to the regulators, investors, and others who use those reports. That said, technology is only one aspect of the reporting process. in 2023 while Europe and the U.S.

Finance 98

Finance General Ledger Prioritization Auditing 98

E78 Partners

JANUARY 5, 2024

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. An acquisition adds complexity to the financial reporting and audit process, so it’s important to be proactive and prepared.

Auditing 59

Auditing Valuation Concentration Reconciliations 59

Future CFO

AUGUST 1, 2023

As a result, the market for cloud-based financial applications in the region will witness significant growth in the coming years. FutureCFO spoke to Deka to dig deeper into the topic: Which features/capabilities in financial applications are most in demand by mid-size enterprises?

Invoicing 98

Invoicing General Ledger Reconciliations Budgeting 98

CFO Share

APRIL 3, 2024

What to Look for in a Bookkeeper Finding a bookkeeper is more than searching for a vendor; it’s about finding a teammate—a professional who understands the importance of accuracy and timeliness in financial reporting. Discuss their approach to managing high-volume work periods and how they prioritize tasks.

Communication 52

Communication Prioritization Accounting Standards Financial Reporting 52

CFO Talks

MARCH 14, 2024

The position of Chief Financial Officer has evolved significantly over the past few decades. No longer confined to the guardianship of financial reporting and compliance, modern CFOs are now pivotal strategists and advisors at the heart of corporate decision-making. Delegation and Empowerment: No CFO can do it all alone.

Prioritization 52

Prioritization CFO Leverage Risk Management 52

The Charity CFO

MAY 8, 2023

To achieve this, nonprofit organizations should prioritize transparency, authenticity, and accountability in their fundraising efforts. The most successful events prioritize engagement and relationship-building. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

Nonprofit 52

Nonprofit Prioritization Communication Planning 52

The Charity CFO

JULY 31, 2023

Beyond legal obligations, ethical considerations play a central role in ensuring fair and unbiased decision-making and fostering an environment of trust and accountability. Regular reviews and frequent check-ins enable the board to adapt to evolving circumstances and reinforce a culture of accountability and adherence to the guidelines.

Nonprofit 52

Nonprofit Prioritization Compliance Accounting 52

The Charity CFO

MARCH 29, 2024

It’s an essential part of nonprofit financial management for a few reasons. First, reviewing your nonprofit budget compared to actual performance helps you maintain financial transparency and accountability. Our dedicated team of nonprofit accountants can help you review your budget to actual reporting.

Nonprofit 52

Nonprofit Budgeting CFO Prioritization 52

CFO Talks

MARCH 20, 2024

The modern CFO: Guardian, Change-maker, Manager, Planner To help new accountants get ready for a CFO role at large companies, the Institute of Chartered Accountants of Ontario (ICAO) and Queen’s University conducted extensive research on the roles of the CFO. Strategist (Planner) , plotting the company’s financial future.

CFO 52

CFO Compliance Performance Measuring Education 52

The Charity CFO

MAY 19, 2023

When strategically implemented as a part of an organization’s financial strategy and other fundamental financial requirements, cash management helps to support a holistic picture of the health and prosperity of an organization and their future abilities to maintain their mission. Get the free guide!

Cash Management 52

Cash Management Nonprofit Compliance Budgeting 52

The Charity CFO

JUNE 7, 2023

Analyzing Financial Structure : By presenting the organization’s assets and liabilities, the statement assists in analyzing the financial structure, including the composition of assets (e.g., accounts payable, loans). Financial Reporting : Provides a comprehensive view of the organization’s expenses.

Nonprofit 52

Nonprofit Accounts Payable Budgeting Strategic Planning 52

The Charity CFO

APRIL 22, 2024

In addition to communication, you can help reduce burnout by prioritizing employee wellness and mental health. Consider financial management as an example. You might rely on your administrative team to handle all of your accounting and bookkeeping work as well. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 52

Nonprofit Budgeting Concentration CFO 52

Centage

DECEMBER 7, 2022

In addition, here are key requirements to evaluate and prioritize as part of your budgeting and planning process to ensure you are ready for the year ahead. Real-time reporting – specifically around variance reporting, and alerting. Automate Key Reports. Today, in QuickBooks, users can only do this at the account level.

Budgeting 98

Budgeting Planning Forecasting GAAP 98

CFO Leadership

OCTOBER 10, 2023

Future-forward finance and accounting organizations were quick to embrace robotic process automation (RPA) years ago to manage mundane, repetitive back-office tasks like data entry and routine financial reporting. AI is a tool and not a replacement for finance professionals. In a recent Robert Half survey , 38% of U.S.

Financial Planning and Analysis (FP&A) 115

Financial Planning and Analysis (FP&A) Finance Compliance Forecasting 115

The Charity CFO

JULY 3, 2023

Finally, adding a time element creates urgency, accountability, and motivation. You can use accounting software, fundraising tools, CRM’s, and other services to collect and analyze data. Contact us today to learn more about the financial services we offer nonprofit organizations! Well, this definitely applies to nonprofit goals.

Nonprofit 52

Nonprofit Analyzing Data CFO Prioritization 52

VCFO

JUNE 29, 2023

A CFO will evaluate financial performance, and bring attention to potential issues. They also rely on the CFO’s leadership, providing up to date communication, and accurate financial reporting. Additionally, a fractional CFO can add capacity by taking on select projects and provide specialized expertise as needed.

Nonprofit 68

Nonprofit Finance CFO Compliance 68

The Finance Weekly

FEBRUARY 8, 2023

Mercier, who joined the company in 2006, was previously the Senior Vice President of Global Finance and Accounting. This includes utilizing cloud-based solutions, automating manual processes, and implementing real-time analytics tools to gain deeper insights into financial data.

CFO 52

CFO Prioritization Finance Communication 52

Future CFO

OCTOBER 2, 2019

Finance departments can save their teams from 25,000 hours of avoidable rework caused by human errors by deploying RPA in their financial reporting processes, said Gartner recently. The average amount of avoidable rework in accounting departments can take up to 30% of a full-time employee’s overall time. Reframing ROI.

Finance 40

Finance Prioritization Financial Reporting Accounting 40

Fpanda Club

FEBRUARY 1, 2021

Young people usually choose their career in finance as it seems to be rather easy to measure success: there is a beaten path from an entry-level accountant/auditor or financial analyst to finance manager and later to CFO. Working with large data sets, making complex calculations and logical conclusions should not be an issue for you.

Finance 130

Finance CFO Communication Prioritization 130

The Charity CFO

DECEMBER 20, 2023

This creates a culture built on a solid foundation for prioritizing, serving, creating sustainability & growth for both the employees and clients. Once again Miriam brings a powerful perspective to these everyday issues, especially in the accounting world, because she is willing to look into the root cause of the problem.

Nonprofit 52

Nonprofit Benchmarking Healthcare Restructuring 52

Spreadym

NOVEMBER 3, 2023

Financial planning typically includes the following key components: Setting Financial Goals: Identify and prioritize your short-term and long-term financial objectives, such as saving for retirement, buying a home, paying off debt, or funding your children's education.

Planning 59

Planning Strategic Planning Budgeting Forecasting 59

Michigan CFO

SEPTEMBER 29, 2021

What once was known as a role for managing a company’s finance and accounting has changed into a role that concerns far greater responsibilities with new expectations. However, if your CFO possesses deep manufacturing experience, then you can better prioritize investments that provide tangible business benefits.

Manufacturing 52

Manufacturing CFO Compliance Forecasting 52

The Finance Weekly

APRIL 27, 2022

In order to mitigate check and payment tampering risk, for example, first address delegation of responsibility issues, utilize check logs, leverage the bank’s positive pay controls, and then review account reconciliations. If formal policies are not in place, first prioritize where to start (i.e., Leverage closing checklists.

Leadership 52

Leadership Financial Planning and Analysis (FP&A) CFO Communication 52

The Charity CFO

NOVEMBER 17, 2022

By taking the time to assess your current financial situation and map out your anticipated income and expenses for the year ahead, you can make sure that your nonprofit is on track to meet its goals. A well-crafted budget can be a powerful tool for decision-making, helping you to prioritize spending in line with your strategic goals.

Nonprofit 52

Nonprofit Budgeting Forecasting CFO 52

PYMNTS

OCTOBER 30, 2020

Businesses also prioritize having up-to-date financial status data that will enable them to carefully oversee liquidity across all their various bank accounts and to make accurate decisions. Fifty-six percent of demand deposit accounts in the U.S.

B2B 59

B2B Economics Banking Prioritization 59

Spreadym

JUNE 19, 2023

Categorize and prioritize your expenses to identify essential versus discretionary spending. Manage Accounts Receivable: Monitor your accounts receivable closely, ensuring that customers pay their invoices on time. These features enable you to monitor and analyze your cash flow effectively.

Cash Flow Forecasting 52

Cash Flow Forecasting Invoicing Forecasting Accounts Payable 52

PYMNTS

OCTOBER 29, 2018

This is especially true in finance-related functions like accounting, procurement, payroll and treasury, and a new survey from Workday suggests chief financial officers are recognizing the opportunities in a more collaborative approach to their positions.

CFO 58

CFO Corporate Finance Finance Risk Management 58

Spreadym

JUNE 27, 2023

This includes analyzing revenue and expense trends, profitability, cost drivers, key performance indicators (KPIs), and financial ratios. Resource Allocation: Financial Planning and Analysis helps organizations allocate their resources effectively. They analyze key financial metrics, ratios, and profitability drivers.

Financial Planning and Analysis (FP&A) 52

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

Planful

JANUARY 11, 2022

In 2018, McKinsey reported that CFOs who didn’t adopt digital innovations like artificial intelligence (AI) were in danger of falling behind their counterparts in IT and marketing. When the COVID-19 pandemic hit two years later, it forced businesses to prioritize digital to stay afloat.

Financial Planning and Analysis (FP&A) 40

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

The Finance Weekly

JULY 19, 2022

FP&A teams are responsible for a variety of activities, including periodic financial close and consolidations, strategic and annual planning, monthly forecasting, cash flow forecasting, financial reporting, financial modeling, and what-if scenario planning and analysis. Strategic financial planning.

Financial Planning and Analysis (FP&A) 96

Financial Planning and Analysis (FP&A) Budgeting Forecasting Finance 96

The Charity CFO

MARCH 2, 2022

I don’t know if my nonprofit’s accounting systems are bad… and I probably won’t know for sure until something bad happens.”. For more nonprofit accounting resources check out www.thecharitycfo.com. ?? And then of course, funders change their mind or the accounting rules have changed over the last few years for nonprofits.

Nonprofit 98

Nonprofit Auditing Reconciliations Accounting 98

The Charity CFO

DECEMBER 22, 2021

Ever wondered why so many nonprofits are stuck in their financial struggles that they end up failing their communities? Chyla is the Founder and CEO of CNRG Accounting Advisory. She helps nonprofits get financially established so they can achieve their goals. Want to make sure your nonprofit doesn’t suffer the same fate?

Nonprofit 90

Nonprofit Budgeting Accounting Planning 90