CFO Leadership

OCTOBER 10, 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 95

Finance Accounting Auditing IFRS 95

The Charity CFO

JANUARY 13, 2022

But accounting for in-kind donations presents its own unique challenges. In this article, we’ll dig into how to account for in-kind donations on your nonprofit’s books. Why accounting for in-kind donations matters. Accounting for in-kind donations isn’t just important; it’s required for many nonprofit organizations. .

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. Benefits of Nonprofit Accounting Services. Nonprofit organizations exist to further a mission or goal.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

https://trustedcfosolutions.com/feed/

FEBRUARY 18, 2022

It used to be the domain of a relatively small number of wealthy families. Choosing the right accounting software is important. Financial governance allows your organization to meet compliance requirements, such as IFRS and GAAP updates, by having the right financial controls in place. Family offices are growing in popularity.

GAAP 116

GAAP IFRS Compliance Forecasting 116

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 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

The CFO College

JUNE 3, 2021

Increase Your Value and Boost Your Services with Two CFO-Level Accounting Tools. Yes, automations can crunch numbers, but there is so much more to providing accounting services than calculations. Either way, you might be struggling to get consistent work or charge the higher fees that you’ve been wanting.

Accounting 52

Accounting CFO Auditing General Ledger 52

Jedox Finance

OCTOBER 6, 2022

The profit and loss statement is one of the main parts of the annual statement that companies must prepare at the end of a financial year, along with the cash flow statement and accounting balance sheet. Common problems associated with P&L accounts. It is crucial to avoid having too small a number of customers or sources of income.

Profit and Loss 52

Profit and Loss GAAP Accounting Principles Accounting 52

Strategic Treasurer

MARCH 6, 2023

The chapter of discussion “Cash Bootcamp for Treasurers” provides a practical approach to understanding different perspectives of cash, how accounting and treasury can live in harmony and more. What are some of the different ways we look at it in finance, accounting as a view of it? What is it? How does it work?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Treasury GAAP 52

Planful

JUNE 22, 2017

Financial Consolidation in the Accounting World. But in the accounting world, “financial consolidation” is a well-defined process that includes several complexities and accounting principles. Here are the key accounting consolidation steps in the finance consolidation process : Collecting trial balance data (e.g.,

Accounting 40

Accounting General Ledger IFRS GAAP 40

CFO News Room

JANUARY 18, 2023

The question of whether a company is making or losing money should be a simple one to answer, especially in an age where accounting statements are governed by a myriad of rules, and a legion of number-crunchers follow these rules to report profits generated by a firm. The numbers yield interesting insights. .

Marketing 130

Marketing Hurdle Rate Investments Accounting 130

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. . And that’s a problem.

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

The Charity CFO

DECEMBER 28, 2022

One way to ensure you remain within the confines of your tax-exempt status is to file and share a number of financial statements. You have a primary responsibility to your donors, grantmakers, and other stakeholders to find ways to share these statements while still following the highest accounting standards. Accounts = $100,000.

Nonprofit 52

Nonprofit GAAP Accounting CFO 52

The Charity CFO

MAY 2, 2022

The IRS has different reporting requirements than GAAP, so the balance sheet section of your 990 may not match your audited financial statements. Beyond the numbers, Part III is the perfect place for you to showcase your story. Don't hire the wrong accountant for your nonprofit! Get the free guide!

Nonprofit 105

Nonprofit GAAP CFO Accounting 105

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. He cooks up strategies to help SoFi grow and score funds for its goals.

CFO 97

CFO Finance Forecasting GAAP 97

Centage

AUGUST 15, 2022

By incorporating a driver-based approach, you empower your financial leaders to focus on the data that matters while ensuring the numbers you have are accurate. Similarly, having too much data can prevent finance and accounting departments from knowing where to focus their energies.

Budgeting 105

Budgeting Planning Forecasting GAAP 105

Centage

DECEMBER 7, 2022

Once configured, Planning Maestro pulls all dimensions from QuickBooks – pulling in data at not only the account level, but at the class level as well. Today, in QuickBooks, users can only do this at the account level. Automate Key Reports. Easily filter on the consolidated level, or drill in for more detail. Want to see it in action?

Budgeting 98

Budgeting Planning Forecasting GAAP 98

The Charity CFO

FEBRUARY 2, 2022

In fact, as a nonprofit organization, the expectations for transparency and accountability are higher than those for for-profit businesses. It’s a tool for ensuring transparency, disclosure, and accountability to the public. Federal Employee ID Number (EIN). Full accounting of income, expenses, and donors. Full Form 990.

Nonprofit 98

Nonprofit Profit and Loss Auditing GAAP 98

Centage

DECEMBER 19, 2023

Another source of pain is when integrated cash flow reports are based on GAAP accounting rules, not formulas, but aren’t supported in the planning and forecasting software application a business is using.

Cash Flow Forecasting 52

Cash Flow Forecasting Financial Planning and Analysis (FP&A) Forecasting GAAP 52

Centage

NOVEMBER 8, 2023

Finance professionals working in the nonprofit sector deal with unique industry challenges: Managing multiple stakeholders and funding sources Understanding compliance and reporting standards Creating financial processes to account for full-time, part-time, and volunteer staff. No programming. No formulas. No links and logic to maintain.

Financial Planning and Analysis (FP&A) 52

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

PYMNTS

MAY 19, 2016

As White listed the number of recently completed SEC projects, she noted that the agency is “functioning on all cylinders,” Reuters said. Earlier this week, the SEC released guidance that White described as the “consequential” nature of accounting practices that may mislead investors.

GAAP 42

GAAP Financial Systems Investments Numbers 42

The Finance Weekly

APRIL 6, 2024

This accounting principle offers an insightful perspective into a business's worth , underlining the importance of financial reporting in today's market dynamics. The concept of NBV stands out as a fundamental metric for both accountants and business professionals. What Is Net Book Value?

GAAP 52

GAAP Accounting Principles Financial Reporting Accounting Standards 52

Onplan

DECEMBER 16, 2021

Of course, you can’t pay salaries with customer invoices either—it’s important to make sure you’re collecting your accounts receivables expeditiously. If you bill $12,000 for the year and the customer pays you promptly, you’ll have the cash in your account, but you can only recognize a portion of it as revenue.

GAAP 59

GAAP Invoicing Forecasting Financial Systems 59

PYMNTS

FEBRUARY 6, 2020

billion, representing a 42 percent gain, and that number was in line with expectations. Drilling down into the numbers, monthly active platform customers were 22 percent to 111 million. billion were better than the $18 billion analysts had expected, up 28 percent, while within that number, ride-sharing bookings were $13.2

Sales 72

Sales Profit and Loss GAAP Transportation 72

Onplan

DECEMBER 16, 2021

Of course, you can’t pay salaries with customer invoices either—it’s important to make sure you’re collecting your accounts receivables expeditiously. If you bill $12,000 for the year and the customer pays you promptly, you’ll have the cash in your account, but you can only recognize a portion of it as revenue.

GAAP 52

GAAP Invoicing Forecasting Financial Systems 52

Centage

JANUARY 31, 2022

Or perhaps your integrated cash flow reports are based on GAAP accounting rules, not formulas, but aren’t supported in your current planning and forecasting software application. Executing what-if analysis for business options that have the potential to effect funding and cash position scenarios should be job number one.

Cash Flow Forecasting 98

Cash Flow Forecasting Financial Planning and Analysis (FP&A) Forecasting GAAP 98

The Finance Weekly

DECEMBER 18, 2021

A controller (or comptroller in government roles) is the company’s lead accountant and the one in charge of running day-to-day activities of the accounting department. They maintain accurate financial records and are usually senior managers with lots of accounting experience and responsibility. The case for a CFO.

CFO 52

CFO Budgeting GAAP Accounting Principles 52

CFO News Room

NOVEMBER 2, 2022

Though Section 203(c)(1)(D) of the Advisers Act contemplates the possible adoption of a rule that requires the submission of a balance sheet certified by an independent public accountant and “other financial statements,” the SEC has to-date not adopted such a rule. RIA Fee Itemization And Surprise Custody Audits.

Compliance 130

Compliance GAAP Investments Advertising 130

Musings on Markets

OCTOBER 6, 2023

The Value of Intangible Assets Accounting has historically done a poor job dealing with intangible assets, and as the economy has transitioned away from a manufacturing-dominated twentieth century to the technology and services focused economy of the twenty first century, that failure has become more apparent.

Valuation 104

Valuation Profit and Loss Accounting Investments 104

Planful

JULY 5, 2016

To date, most of the focus has been on the transactional accounting impact of the new guidelines. However, the revenue recognition guidance offered under US GAAP vs. IFRS has differed and was in need of improvement. As a result, different industries use different accounting for economically similar transactions.

Budgeting 40

Budgeting IFRS Planning GAAP 40

CFO Thought Leader

FEBRUARY 19, 2024

“My two big pieces for the coming year are, number one, to finish that third pillar of the turnaround, and, number two, to get the message out—which is not easy, by the way, right?,” ” he concludes. You will need all of these assets to excel as an accurate and insightful CFO in any company.”

CFO 52

CFO Restructuring Finance Numbers 52

The Finance Weekly

FEBRUARY 20, 2022

Or perhaps your integrated cash flow reports are based on GAAP accounting principles rather than formulas, but your existing planning and forecasting software application doesn't support them. Perform What-If Analysis.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Cash Flow Forecasting Forecasting GAAP 52

Planful

JANUARY 19, 2016

When I was a staff accountant back in the mid-1980s, I remember spending many nights and weekends working to close the year-end books. Half of the time the numbers were unreadable, so we had to confirm them via phone. Then we would key the numbers into a spreadsheet and perform the currency translations there. (I

IFRS 40

IFRS GAAP Reconciliations Auditing 40

Musings on Markets

FEBRUARY 27, 2022

Measuring Profitability The question of whether a company is making or losing money should be a simple one to answer, especially in an age where accounting statements are governed by a myriad of rules, and a legion of number-crunchers follow these rules to report profits generated by a firm. The numbers yield interesting insights.

Hurdle Rate 80

Hurdle Rate Investments Accounting Entertainment 80

Centage

NOVEMBER 22, 2021

It’s all automated and GAAP compliant. While updating numbers is easy enough in any budget, when you start modifying the structure of the model things get ugly. Just adding an account can cause the plan and budget to fall apart. No programming. No formulas. No links and logic to maintain.

Financial Planning and Analysis (FP&A) 72

Financial Planning and Analysis (FP&A) Nonprofit Planning Finance 72

BlueLight

MAY 1, 2020

The CEO outsources accounting to a third-party accounting firm and may conduct simple FP&A. Financial planning & analysis is a corporation function that uses financial information to make forward-looking recommendations, evolving from a number cruncher to a strategic partner. Source: Vena Solutions What is FP&A?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) CFO Strategic Planning Startups 52

Planful

SEPTEMBER 6, 2021

Let go of spreadsheets—error-prone, inefficient, and often hindering—and move toward technology that allows you and the shareholders to trust the numbers. The company’s leadership used fake holdings and off-the-books accounting practices to deceive regulators. Create Detailed, Transparent Reports. at its peak to $0.26

Financial Reporting 40

Financial Reporting Valuation IFRS GAAP 40