The Charity CFO

OCTOBER 9, 2023

However, that’s not the case with an organization’s accounting systems. Let’s take a closer look at nonprofit accounting systems, the most frequent mistakes, and how to avoid trouble down the road. It’s vital to get these right from the beginning or risk serious consequences in the future.

Nonprofit 59

Nonprofit Accounting Profit and Loss Compliance 59

Spreadym

JUNE 13, 2023

The chart of accounts is a systematic listing of all the financial accounts used by an organization. It serves as a framework for organizing and classifying financial transactions, providing a standardized structure for recording and reporting financial information. Here's how it typically functions.

Accounting 52

Accounting Financial Analysis Compliance Benchmarking 52

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

Centage

JANUARY 4, 2022

Part of that effort requires a deep dive into the overall financial health of your organization. That includes analyzing key financial metrics as part of the financial reporting and analysis process to see where you are today to determine where you want to be tomorrow (and how to get there!). Don’t overshoot.

Financial Reporting 94

Financial Reporting Budgeting Accounts Payable Benchmarking 94

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? What’s going on?

Accounting 52

Accounting Profit and Loss Auditing Invoicing 52

PYMNTS

AUGUST 11, 2020

In a move that lets small businesses take card payments and monitor income, accounting platform Clear Books has integrated with Stripe. The connection enables small businesses with a Clear Books account to take invoice payments by credit and debit card, according to an announcement.

Accounting 65

Accounting Foreign Exchange Invoicing Currencies 65

PYMNTS

JANUARY 9, 2020

There was an 18 percent spike in iPhone sales in China in the month of December, according to a report by Reuters. Apple saw a dip in sales after a peak in 2015, when the company saw longer upgrade cycles and more competition from competitors. The company will also release its next financial report in late January.

Sales 52

Sales Financial Reporting Finance Securities 52

PYMNTS

OCTOBER 9, 2018

Banks and businesses alike are heading toward the 11th hour of changes in accounting standards, which will have a major impact on how companies report financial metrics and performance. Experts say the move will not go unnoticed when the accounting standards begin to take effect for public companies in 2021.

Accounting Standards 61

Accounting Standards Accounting Banking Corporate Finance 61

CFO Simplified

SEPTEMBER 11, 2022

There are two different ways of performing accounting functions in your business: One is on a cash basis, and the other is on an accrual basis. More often than not, your tax accountant is doing your taxes on a cash basis. However, running your operating financials on a cash basis is the WORST way to prepare your financials.

Profit and Loss 98

Profit and Loss CFO Accounting Financial Reporting 98

CFO News Room

FEBRUARY 4, 2022

In the United States, laws allow companies to maintain two separate sets of books for financial and tax purposes. Because the rules that govern financial and tax accounting differ, temporary differences arise between the two sets of books.

Profit and Loss 130

Profit and Loss Financial Reporting Accounting Sales 130

CFO Simplified

AUGUST 21, 2022

In this case, the bank is giving you a percentage of those quick assets—either inventory or accounts receivable (AR)—to provide support for the loan they’re giving you. Bank fatigue might mean that your bank feels like: Your financial reporting isn’t getting done on time. Your financial reporting is inconsistent.

Banking 98

Banking Concentration CFO Accounting 98

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. Learning how to jazz up your executive reporting by “Creating BOARD Books, Not Bored Books.”.

Financial Planning and Analysis (FP&A) 40

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

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

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

The Finance Weekly

MARCH 25, 2024

His main job is to handle all money matters at SoFi, like planning, accounting, and dealing with investors. Safra Ada Catz Safra Ada Catz, the business leader overseeing ,, Oracle Corporation , a major tech company, handles key aspects like sales, marketing, finance, and legal matters.

CFO 97

CFO Finance Forecasting GAAP 97

CFO Simplified

JANUARY 10, 2022

Financial reports contain the most important reading that a business owner looks at on a regular basis. And yet, for many business owners, reading financial statements can seem as helpful as reading tea leaves. Some of the issues that create confusion are the result of the way the reports are created.

Profit and Loss 52

Profit and Loss Financial Reporting Invoicing Sales 52

The Charity CFO

MARCH 13, 2023

Bake sale The logistics of hosting a bake sale is often easier than some other fundraising ideas because most, if not all, of the items to be sold are donated. Instead of a bake sale, similar food-related events you could host include a chili cook-off or barbecue. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 98

Nonprofit GAAP CFO Entertainment 98

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

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

The Finance Weekly

NOVEMBER 27, 2023

Key Performance Indicators (KPIs) play a crucial role, especially in , financial reporting. To assess your company's financial well-being, it's better to be objective rather than subjective. Accounts Receivable Turnover Ratio Your accounts receivable turnover ratio indicates how efficiently you collect cash from credit sales.

Budgeting 52

Budgeting General Ledger Concentration Benchmarking 52

CFO Share

APRIL 3, 2024

But the right outsourced bookkeeping can transform your business management, allowing you to focus on sales and operations – where you are needed most. You get what you pay for – and the cost of bad financial reporting is magnitudes larger than fees for good bookkeeping services. Do not go with the cheapest option.

Communication 52

Communication Prioritization Accounting Standards Financial Reporting 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

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

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

CFO Share

MARCH 15, 2024

Comprehensive Picture: With a consolidated view through your accounting software, you’re armed with insights, essential to navigate any financial storm. This not only creates cash flow improvements but instills a discipline in your clientele and sales team. What Methods Improve Cash Flow?

Invoicing 52

Invoicing Cash Management Compliance Finance 52

The Finance Weekly

OCTOBER 8, 2023

It might also include features like automated expense categorization, predictions, and reporting. Some software can even integrate with accounting systems to further streamline financial management. Your reports can be refreshed without messing up your cell references, and you can set up automatic updates.

Financial Planning and Analysis (FP&A) 52

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

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

CFO Share

NOVEMBER 3, 2023

As a business grows, so do its financial intricacies. It’s common for many small business owners and finance directors to handle accounts receivable, accounts payable, and other financial tasks themselves in the early days. However, as the business scales, this can become overwhelming.

Invoicing 52

Invoicing Accounts Payable Compliance Financial Analysis 52

The Charity CFO

FEBRUARY 8, 2023

Typically, nonprofits use accrual accounting , which recognizes revenue when it is earned instead of when the cash is received, and vice versa for expenses. While this method is very helpful to understanding some aspects of your organization’s financial position, it is not relevant to the statement of cash flows.

Nonprofit 52

Nonprofit CFO Accounts Payable Concentration 52

The Finance Weekly

JANUARY 21, 2024

When you’re making small-talk with someone who isn’t in finance or accounting about how work is going, and they answer with “busy,” do you ever question how hard it really is? They have a five person accounting team who spend an unwieldy amount of time dumping data from NetSuite into Excel. All involving Excel data manipulation.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Finance Data Analysis Financial Modeling 40

CFO Simplified

APRIL 15, 2022

Sales – $11,750,000. More recently, the stock model company had experienced a drop in sales, and some customers of the prototyping business were not returning, leaving the company with idle manufacturing capacity. Financial Reporting and Accounting. Business – Manufacturer of industrial models. Initial Contact –.

Manufacturing 52

Manufacturing General Ledger Budgeting CFO 52

CFO Share

AUGUST 10, 2023

To interpret revenue, ask the following questions: Do sales come from a diverse array of products and services, or just one specialty? Are multiple sales channels apparent in the revenues, such as wholesale, retail, and e-commerce? What is the distribution of sales across these channels? What is driving those changes?

Concentration 40

Concentration Budgeting Sales Accounting 40

The Charity CFO

SEPTEMBER 14, 2022

Sale of donated merchandise or in-kind gifts. ?? You should always consult your legal counsel or a qualified accounting professional before making decisions that could cost you a lot of money down the road. We’ll modernize and optimize your accounting system to get you audit-ready financial reports every month.

Nonprofit 98

Nonprofit Profit and Loss Education CFO 98

Future CFO

DECEMBER 31, 2021

In response, 82% of CFOs report that investments in digital are accelerating faster than in other areas, including talent, supply chain, business services or fixed assets. What does this mean to the finance and accounting team of 2022? CFOs are the logical candidate to lead the ESG initiative.

Leadership 98

Leadership Finance GAAP Forecasting 98

The Charity CFO

JANUARY 31, 2022

Like all nonprofit financial statements , the central role of the Statement of Activities is to provide transparency and accountability to your donors and board. If you use cash-based accounting, you’ll only record cash deposited into your bank during the reporting period. . What’s on the Statement of Activities? .

Nonprofit 98

Nonprofit Profit and Loss Auditing GAAP 98

CFO Simplified

FEBRUARY 17, 2022

Business – Sales, installation, and service of industrial compressed air systems. Create a GL account on the balance sheet for Customer Deposits. Financial Reporting. Accurate reporting ensures that everyone is on the same page so that agreement is more easily reached on the best next step forward. 11,500,000.

Profit and Loss 52

Profit and Loss Cash Flow Forecasting CFO Financial Reporting 52

Centage

OCTOBER 23, 2023

Sales teams have projected their volumes. Or that accounting has planned $5,000 for a new printer? Showing your board how you’ve reflected your plans in your budget presentation will be key to getting approval and illustrating that you’ve taken all aspects of your goals into account. Sales flop. Or are you? Plans go awry.

Budgeting 52

Budgeting Strategic Planning Forecasting Planning 52