VCFO

FEBRUARY 15, 2023

She is highly effective at executing finance function strategically, establishing financial and risk controls, and overseeing capital structure. Lee Ann’s depth and breadth of expertise includes board reporting, audit preparation, business plan development, market research and analysis, risk management, and capital requirements.

Auditing 52

Auditing CFO Risk Management Budgeting 52

The Charity CFO

DECEMBER 8, 2022

Because accurate nonprofit accounting can help with reporting and auditing requirements, and ensure that the funds are being used in accordance with the grantor’s wishes. Doing this ensures that you can demonstrate compliance with grant requirements and provides a clear audit trail for any future reviews.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

The Charity CFO

APRIL 18, 2024

These challenges include financial issues, data security compliance, and talent retention problems. Financial Sustainability For nonprofits, financial sustainability means the financial security to cover expenses and advance your mission. 2024 will be no different.

Nonprofit 52

Nonprofit Compliance CFO Leverage 52

The Charity CFO

MAY 31, 2022

You can see how much revenue comes into an organization and how they spend that money by looking at the Statement of Activities (also called the Income Statement) or an updated Budget report (also referred to as the Budget vs. Actual report). In most cases, these include an annual audit and federal tax return.

Nonprofit 98

Nonprofit Finance Auditing Accounts Payable 98

The Finance Weekly

JULY 28, 2022

One of Vena’s customers, , Verra Mobility , claimed that Vena misled them into believing that the Soc 1 Type II report that Verra was given had been audited by an independent auditor. This is a financial reporting tool utilized in performing certain control activities. Establishing Trust With SOC Reports.

Auditing 52

Auditing Compliance Budgeting Securities 52

The Charity CFO

AUGUST 15, 2023

One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990. The IRS report only pays attention to tangible monetary value which means things like in-kind services or unrealized gains/losses on investments are excluded.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

OCTOBER 4, 2022

They also develop and implement operational procedures and systems and manage budgets and financial reports. Often, they’ll also need to be aware of all legal or reporting requirements that the organization may have in executing their programs. Implement Budgets and Oversee Financial Strategy.

Nonprofit 98

Nonprofit Budgeting Compliance CFO 98

Future CFO

AUGUST 23, 2022

These days, at least in Asia, sustainability responsibilities appear to be more closely associated with a Chief Financial Officer (CFO). Lim opined that with the level of scrutiny over ‘non-financial’ and ‘financial’ reporting on the rise, corporates need buy-in and support from the Board to push the sustainability agenda.

CFO 98

CFO Auditing Finance Treasury 98

The Charity CFO

JANUARY 5, 2023

Poor financial reporting. Tax issues and non-compliance with regulatory requirements. Well, the answer lies in understanding and implementing these 7 essentials of nonprofit financial management. A Nonprofit Budget. A well-formulated budget should focus on the goals and objectives of your organization.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

Future CFO

MAY 21, 2020

At the same time, tactical responsibilities have not diminished, and the unpredictability of market conditions mean CFOs spend more time on functional tasks such as developing budgets, managing financial reporting, audit, and compliance.

CFO 52

CFO Auditing Risk Management Budgeting 52

The Charity CFO

APRIL 19, 2022

Red Flag #2: Hidden Compliance Issues. When most nonprofits think about ‘accounting issues,’ they’re concerned about poorly prepared financial reports, bookkeeping errors, gaps in communication with funders, bad audits and a million more things in this vein. DO NOT let compliance issues linger.

Nonprofit 98

Nonprofit Auditing Compliance Accounting 98

The Charity CFO

NOVEMBER 10, 2022

As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit. Sound financial management helps avoid jeopardizing tax-exempt status and the success of your operation. . Improves compliance. Generates accurate financial reports.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

CFO Share

APRIL 2, 2024

Churn and Transition Expense The turnover of an in-house finance manager not only disrupts operations, forecasting, and financial reporting; but also restarts the recruiting/hiring/training expense cycle. Whereas if your employee commits fraud, your insurance may not cover the loss.

CFO 52

CFO Finance Cost Analysis Forecasting 52

The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). Many of the same issues that private-sector businesses face, such as raising revenue and managing budgets, apply.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52

The Charity CFO

MAY 11, 2023

When utilizing outsourced accounting services, you only pay for the services you need and you may have access to more premium software than you could purchase on your in-house budget. Do You Struggle to Make Sense of Your Financial Statements? You can source the best services for your needs, exactly when you need them.

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

Fpanda Club

SEPTEMBER 2, 2021

The list of typical FP&A activities usually includes planning, budgeting, forecasting, analysis, management reporting and performance management. Budgeting is a type of short-term planning whose goal is to transform strategic objectives into an operational plan by allocating available resources.

Financial Planning and Analysis (FP&A) 130

Financial Planning and Analysis (FP&A) Corporate Finance Communication Budgeting 130

The Charity CFO

JANUARY 26, 2023

Proper revenue recognition is a core accounting principle that ensures proper financial reporting, ensuring that you remain compliant and maintain donor confidence. Monthly financial statements can have a clear view of your financials and stay on top of your organization’s future expenses.

Nonprofit 52

Nonprofit Accounting Principles Profit and Loss Auditing 52

The Finance Weekly

JANUARY 22, 2024

Supervise and offer suggestions for the financial department. Assist with risk management, audits, and research. Identify investment and financial planning opportunities. Collaborate with other executives and department heads on budget creation and management. Prepare quarterly and annual tax filings.

CFO 52

CFO Education Communication Leadership 52

CFO Talks

AUGUST 10, 2022

Welcome to this SAIBA CFO podcast, SAIBA is the South African Institute of Business Accountants, it has more than 12 000 members in the country and specialises in a wide range of disciplines such as accountancy and tax, training and development, career enhancement, legislation and financial reporting.

Auditing 52

Auditing CFO Compliance Accounting 52

The Charity CFO

FEBRUARY 4, 2022

They organize the data and ensure accuracy so the accountant can create reliable and timely financial reports. On top of that, nonprofit bookkeeping requires staying updated on income tax changes and filing requirements to ensure compliance. . Prepare financial statements and reports . Determine budgets and wages.

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

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

JUNE 19, 2023

At the most basic level, they can help ensure your organization’s finances are in order and help resolve issues involving financial reports and compliance. They can also work to institute best practices for budgeting , allowing you to easily and more effectively allocate money. Get the free guide!

Nonprofit 52

Nonprofit Communication CFO Auditing 52

The Charity CFO

NOVEMBER 23, 2022

They are responsible for the financial health of the organization. They create and maintain financial records, prepare financial reports, and oversee the organization’s budget. This background helps them provide oversight for and manage all forecasts, budgets, and investments for the organization.

Nonprofit 52

Nonprofit Finance Strategic Planning Budgeting 52

The Charity CFO

SEPTEMBER 14, 2022

If you’re tired of being the last priority of the financial professionals in your life, consider outsourcing your bookkeeping and accounting to The Charity CFO. 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

PYMNTS

JULY 5, 2017

Last month CXO Solutions announced the launch of CXO-Cloud for Oracle’s cloud-based Planning and Budgeting Cloud Services, another sign of support for the cloud by the firm. ” The mobility of cloud-based reporting tools, too, can bring a new level of ease for the C-Suite, he added. But data can quickly turn into a burden.

Financial Data 52

Financial Data Auditing Financial Reporting CFO 52

Future CFO

AUGUST 30, 2021

According to Payscale.com , skills such as leadership, and financial reporting and strategic planning, won’t elevate your take-home pay much. These days, strong computer skills, as are advanced knowledge of accounting, budgeting, and finances. What makes for a sought-after chief finance professional (CFO)?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance CFO Problem Solving 52

Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have. What is financial reporting software?

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) CFO Accounting Standards 52

Onplan

DECEMBER 16, 2021

With that in mind, here are some of the most important functions of an accounting team a CFO needs to keep an eye on: Creating financial statements Financial reporting Payroll Customer Invoicing Vendor/employee payments Entity taxes Compliance.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance CFO Forecasting 52

Onplan

DECEMBER 16, 2021

With that in mind, here are some of the most important functions of an accounting team a CFO needs to keep an eye on: Creating financial statements Financial reporting Payroll Customer Invoicing Vendor/employee payments Entity taxes Compliance.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance CFO Forecasting 52

Boston Startup CFO

OCTOBER 13, 2015

Company founders and CEOs are rarely equipped to handle financing strategies, budgets and dealing with investors. But bringing on a chief financial officer is not cheap. The accounting manager recommended that we audit our books, which seemed like a good idea, especially since we had been having conversations about getting acquired.

CFO 52

CFO Tax Planning GAAP Budgeting 52

Spreadym

SEPTEMBER 27, 2023

Spreadym offers a wide range of analysis tools, like plan vs. actual analysis, financial consolidation, budgeting, forecasting and a variety of stored versions of a document. Oracle Hyperion Planning: Oracle's CPM software is known for its robust financial planning and budgeting capabilities.

SAP 59

SAP Budgeting Forecasting Auditing 59

The Charity CFO

MAY 18, 2022

What is Financial Oversight? Financial oversight refers to a broad range of responsibilities. Financial sustainability. Compliance. And why the board of directors plays the primary role in providing financial oversight. Your board should be involved in reviewing and approving the annual operating budget.

Nonprofit 105

Nonprofit Auditing Compliance Budgeting 105

VCFO

NOVEMBER 1, 2023

Alternatively, if expenses are running over budget, are there line items that can be cut or deferred to pull overall expenses back in line with budget? audited or reviewed financial statements). Or is it the customers that need to be incentivized with year-end offers? Read more in our blog about Lease Accounting Updates.)

Finance 91

Finance Strategic Planning Auditing CFO 91

Future CFO

FEBRUARY 22, 2024

The financial landscape is evolving at breakneck speed, driven by big data, globalisation, and digitisation. The pressure on finance leaders to deliver strategic insights and ensure compliance is mounting in this dynamic environment. CFOs can drill deeper into their insights into areas like ESG metrics and potential compliance risks.

Financial Planning and Analysis (FP&A) 97

Financial Planning and Analysis (FP&A) Finance Compliance SAP 97

CFO Simplified

JANUARY 5, 2024

Failure to promptly reconcile and monitor trust accounts may result in non-compliance with legal and ethical standards. Because of the compliance implications, reconciliation and oversight of these accounts is even more important than comparable oversight of the firm’s bank accounts.

Auditing 52

Auditing Reconciliations Compliance Securities 52

The Finance Weekly

APRIL 13, 2024

This includes tracking past financial activities, ensuring compliance and reporting, as well as forecasting future financial scenarios for better budgeting. These tools offer capabilities ranging from spending tracking and improved budgeting to making informed investment choices.

Financial Planning and Analysis (FP&A) 52

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

The Charity CFO

APRIL 28, 2023

They understand the complexities of nonprofit accounting, including fund accounting, grant accounting, and compliance with IRS regulations. Fund Accounting Fund accounting is a method of accounting used by nonprofit organizations to track and report on restricted and unrestricted funds.

Nonprofit 52

Nonprofit Accounting Firms Accounting Auditing 52