CFO Share

JULY 16, 2024

When building your back office, you may consider whether you need a financial controller or a CFO. The skills and responsibilities of these roles overlap, and to make matters more confusing, an underqualified CFO (yes, there are plenty out there) will perform similar to or worse than an excellent controller.

Financial Planning and Analysis (FP&A)

CFO Share

JULY 19, 2023

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. An AP digital transformation centralizes all bill receipts into one inbox, eliminates paper and associated data “blackholes,” and maintains clear audit records of all activity.

Accounts Payable

PYMNTS

SEPTEMBER 24, 2020

Accounts payable (AP) teams are now taking a fresh look at the potential of tools such as virtual cards to ease their transaction frictions. The September CFO Guide To Digitizing B2B Payments explores how corporate buyers are streamlining their B2B transactions with digital payments and supplier onboarding tools.

Accounts Payable

CFO Share

MAY 31, 2023

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. How will you audit bookkeepers to ensure compliance with controls?

Accounts Payable

The Charity CFO

APRIL 5, 2022

Accrual accounts exist to track your accrual transactions and their balances, according to the type of transaction. Common accrual accounts include: . Accounts receivable. Accounts payable. Notes payable. What is the Cash Accounting Method? Which accounting method is more effective?

Nonprofit

The Charity CFO

MAY 31, 2022

But if you bring zero experience in accounting or financial management to your organization, that’s okay. In this article, we’ll walk you through the elements of nonprofit finance that every executive director, CFO, and accountant should know. In most cases, these include an annual audit and federal tax return.

Nonprofit

PYMNTS

SEPTEMBER 10, 2019

In a statement, Coatue Management Senior Managing Director Thomas Laffont said that artificial intelligence (AI) enables AppZen to deploy more sophisticated analytics and automation within its expense management solution, which allows businesses to assess expenses, automate expense report audits, and identify savings opportunities. “AI

Auditing

Future CFO

DECEMBER 5, 2022

While it is common to find a chief finance officer (CFO) helming a large or multinational organisation, the costs associated with having one in-house can be a hurdle for smaller organisations. According to payscale , the average base salary of a CFO in Hong Kong is HK$1,351,820 per year. Hiring a CFO when money is the problem.

CFO

The Charity CFO

MAY 18, 2022

If your nonprofit requires an audit, the board should engage directly with the audit firm. Finally, the board should be aware of significant compliance requirements the nonprofit is subject to and ensure a system of accountability is in place. Review annual audit . Compliance. It’s very common. Get the free guide!

Nonprofit

The Charity CFO

JANUARY 17, 2022

The #1 accounting mistake that nonprofits make is hiring the wrong people to help them. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. But it also includes accounts payable (unpaid bills), credit card bills, outstanding payroll, and more.

Nonprofit

CFO Talks

MARCH 20, 2024

From Controller to CFO: What Changes? Moving from being a Controller to a CFO is a big step up. Both the CFO and Controller deal with the company’s finances, but they focus on different things. The CFO, however, looks at the bigger picture. It’s like going from keeping score to calling the plays.

CFO

PYMNTS

NOVEMBER 4, 2020

I'd be willing to be that any controller or CFO that doesn't have an automated auditing process is worried about it.". The company announced its formal launch last month as a technology provider designed to automate the invoice auditing process to combat fraud and errors for accounts payable personnel.

Invoicing

https://trustedcfosolutions.com/feed/

JULY 19, 2022

Scalability is crucial, and Sage Intacct puts you in a great position to drive growth by automating the complete range of primary and complex accounting processes so you can focus on analyzing your real-time business performance. Sage Intacct has completed SSAE 18 SOC 1 Type II, SOC 2 Type II, and ISO27001 audits.

Accounts Payable

CFO Share

MARCH 2, 2023

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

Invoicing

Centage

SEPTEMBER 6, 2022

As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user.

Securities

The Charity CFO

FEBRUARY 4, 2022

Most organizations will also need to track payments they are owed (accounts receivable), bills that they haven’t paid (accounts payable). . At The Charity CFO, we handle the books and all of your accounting needs. The #1 accounting mistake that nonprofits make is hiring the wrong people to help them.

Nonprofit

PYMNTS

SEPTEMBER 29, 2020

As a provider of back-office financial technology, it's vital to speak with chief finance officer (CFO) and finance executive end-users about what they need and which friction points are giving them the most pain. 1, they want to accelerate the transformation of how work gets done," Gupta told PYMNTS in an interview.

Cash Flow Forecasting

CFO Simplified

DECEMBER 26, 2021

From overworked staff accountants to controllers running month-end closes, a poorly structured finance, and accounting department can put strains on your business’ growth. Here’s a guide to set your accounting and finance department up for success as your business grows. Roles and Responsibilities.

Finance

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. The CFO suite doesn’t want to be the “department of No.” It evolves with stage.

CFO

PYMNTS

JANUARY 17, 2018

Israch said he’s observed increased adoption and momentum for AP (accounts payable) automation and cross-border needs — and not just at his own company. Across the board, he said, CFOs and executives are realizing that they can’t keep up just by throwing more bodies at the problem.

Accounts Payable

https://trustedcfosolutions.com/feed/

MARCH 1, 2023

By automating your accounts payable processes, you’ll save hundreds of hours and thousands of dollars from data retrieval and manual work, all while making the process more streamlined. This allows you to reduce the amount of manual data entry and create an audit trail for your asset data.

Accounts Payable

Future CFO

OCTOBER 2, 2024

In the audit space, AI offers enhanced capabilities for data analysis – enabling auditors to process information and identify outliers or anomalies more efficiently. One third (33%) of the surveyed organisations have already implemented AI solutions in this domain – signalling a strong focus on enhancing insight through advanced analytics.

Accounting

PYMNTS

AUGUST 18, 2017

Israch said the advantage to these new offerings is it encompasses one holistic system for all parties to manage finances throughout the payment life cycle, as well as helping to manage fraud and audit risks. and overseas.”.

Accounts Payable

CFO Simplified

DECEMBER 12, 2021

The terms “finance” and “accounting” are often used interchangeably. There are, however, very real differences between finance and accounting. While many business owners look for a CFO to bolster their existing accounting team, here at CFO Simplified, we consider that a CFO would be categorized squarely in the finance category.

Accounting

Trade Credit & Liquidity Management

APRIL 1, 2025

Critical Factors to Consider Be sure you are comparing companies with an analysis that is both current and audited. A Better Cash Flow Measure A more accurate measure of actual cash flow is Cash Flow from Operations (CFO) This metric is found on the cash flow statement. It reflects the actual cash collected and spent in operations.

Profit and Loss

The Charity CFO

MARCH 2, 2022

Isabel is the Onboarding Specialist at The Charity CFO. You used to audit nonprofit organizations back in the day, similar to me, but while I was the CFO of a nonprofit, you were my auditor. Um, so that we can ensure we get through audits and then just kind of balancing all of those things together. Why are they off?

Nonprofit

CFO Share

APRIL 11, 2024

Busy small business owners unable to keep up with their books often consider outsourced CFO services as a cost-effective solution. Counter-intuitively, an outsourced bookkeeping service reduces the risk of fraud by adding more oversight and best-practices to your accounting processes.

Securities

The Charity CFO

APRIL 25, 2024

About The Charity CFO The Charity CFO is an accounting firm specializing in serving nonprofits through outsourced accounting and fractional CFO services. We know what a nonprofit goes through each day, and we utilize technology to simplify our clients’ accounting processes. Let’s meet these organizations.

Nonprofit

PYMNTS

SEPTEMBER 28, 2020

Corporate buyers that fail to adhere to these regulatory requirements could face audits, fines and tax withholdings. Companies may be eager to ditch paper checks and other manual methods from their B2B payment flows, as 24 percent of accounts payable (AP) professionals say that such processes worsen vendor relationships.

Accounts Payable

Beacon CFO Plus

JUNE 16, 2023

For example, common controls like external audits of financial statements and a formal code of conduct were in place at only 53 percent of small businesses (compared to 90 percent of larger organizations). A forward-thinking virtual CFO can help guide your business in the right direction and provide protection against fraud and other risks.

Accounts Payable

Planful

SEPTEMBER 10, 2015

ERP includes a general ledger which summarizes all of the details from other modules like purchasing, accounts payable, and accounts receivable. It is generally driven by the finance department or CFO of the enterprise. A good EPM solution will also make the financial auditing process much simpler and faster.

Planning

The Charity CFO

APRIL 1, 2024

Elements of a Strong Nonprofit Accounting Tech Stack How do you build a strong nonprofit accounting tech stack? At The Charity CFO, we’ve found four tech tools that have worked for several of our clients to improve their accounting systems. Get the free guide!

Nonprofit

Centage

SEPTEMBER 6, 2022

As a business owner or chief financial officer (CFO), spreadsheets may be an important part of your financial forecasting, planning, and budgeting processes. Excel does not have audit trail capabilities, so it is difficult to prevent fraud as numbers, and other financial data can easily be changed by any user.

Securities

Boston Startup CFO

APRIL 3, 2023

In this tier, a double-entry accounting system is employed to ensure the accurate recording of all transactions. Additionally, it is necessary to maintain accounts payable and accounts receivable, guaranteeing that all transactions are precise and current.

Accounting

CFO Talks

DECEMBER 26, 2021

Today’s podcast is sponsored by Draftworx, which provides automated drafting and working paper financial software to more than 8000 accounting and auditing firms and corporations. CFO Talks is a brand of the South African Institute of Business Accountants. Johannes, welcome and it’s good to have you on CFO Talks.

CFO

CFO Talks

DECEMBER 26, 2021

South African-born Daniel Raubenheimer is a passionate MBA graduate with cross-functional experience in tech, FMCG and manufacturing, he’s now CFO at Silon in Atlanta, USA, a leading producer of technical compounds and polyester staple fibres. CFO Talks is a brand of the South African Institute of Business Accountants.

Manufacturing

Future CFO

JUNE 16, 2025

Tasks like accounts payable, expense reporting and reconciliation, which used to be time-consuming, are now being handled more efficiently with AI-driven tools," Chung observes. This cuts down on manual errors, ensures data is more consistent, and saves a lot of time."

Profit and Loss