The Charity CFO

MAY 11, 2023

Make sure that you find a partner in your service provider and ensure that your access and communication channels are clearly defined. Communication Challenges As part of your diligence in selecting the right provider, you’ll need to consider what your communication preferences are, for both you and your staff.

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

Cube Software

MAY 11, 2023

Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accounting principles—GAAP statements must be based on actual financial results. A pro forma invoice is not a type of pro forma financial statement.

GAAP 40

GAAP Financial Planning and Analysis (FP&A) Profit and Loss Accounting Principles 40

The Charity CFO

AUGUST 15, 2023

Myth #3: Nonprofit Accounting (GAAP) and the IRS Rules are the Same Another common misconception is that GAAP and IRS rules are the same when it comes to nonprofits, however, they are not. In some cases, they’ll also be responsible for communicating with grantors. Audits Nonprofits are not exempt from audits.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

JANUARY 5, 2023

When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Bring GAAP compliance. It also involves staying up to date on the latest auditing standards, tax regulations, and IRS filing requirements. A Nonprofit Budget. Net assets (difference between revenue and expenses).

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

The CFO College

FEBRUARY 19, 2021

Elevated reporting goes beyond basic balance sheets and income statements, which makes it easier to identify and mitigate risks, as well as communicate vital data to board members, investors, and lenders. Offer letters should focus on communicating the benefits of value-add services and deliverables. Increase your fees over time.

Communication 52

Communication CFO GAAP Accounting 52

The CFO College

APRIL 8, 2021

You’ll really want to delve into the pain points of business owners (saving money, reducing tax burden, and increasing bottom line), tax opportunities and planning, and GAAP accounting and solutions. World-class reporting also fosters better communication among the management team, board, investors, and lenders.

CFO 52

CFO Benchmarking Accounting Tax Planning 52

The Charity CFO

JANUARY 17, 2022

So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. And then, there are a series of reports and financial statements you’ll use to communicate the financial reality of your organization to potential donors, the IRS, watchdog agencies, and other stakeholders.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

VCFO

NOVEMBER 1, 2023

Assessing Accounting For entities preparing GAAP compliant financial statements, adoption of Revenue Recognition Standard (ASC 606) and Lease Accounting Standard (ASC 842) is now mandatory. audited or reviewed financial statements). Reviewing the asset register and eliminating assets that have been scrapped.

Finance 89

Finance Strategic Planning Auditing CFO 89

Onplan

NOVEMBER 30, 2022

Instead of reaching out to your marketing, sales, and other departments for data inputs, and spreading your communication across various channels and sources, you can reach instant and total alignment. Automated reporting also enforces compliance with GAAP and IFRS standards. Cube is probably best used by tech-savvy companies.

Financial Planning and Analysis (FP&A) 52

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