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How Do I Forecast with Tax Code 280E?

CFO Share

Your strategic business forecasting must include proper considerations for section 280E – this is essential to planning cash flow and avoiding catastrophic tax bills at year-end. Even worse, an IRS income tax return does not follow the same rules as GAAP. Hence you need good cannabis accounting to defend yourself in audit.

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Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 95
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TEST Embracing AI in Finance and Accounting: Balancing Risk and Innovation

CFO Leadership

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. As AI permeates finance, questions about its compliance with audits and financial governance will arise. For instance, could financial statements generated by ChatGPT withstand audit scrutiny?

Finance 52
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How to create & use pro forma statements

Cube Software

Think of pro forma statements as a monetary crystal ball, a guiding financial forecast. The Securities and Exchange Commission (SEC) requires that discrepancies between pro forma and GAAP-compliant financial reports be explained when released to the public. A pro forma invoice is not a type of pro forma financial statement.

GAAP 40
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What is Quality of Earnings?

CFO Share

What is the difference between a quality of earnings report and an audit? Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential.

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Outsourced bookkeeping for a nonprofit

The Charity CFO

This can be especially helpful if you don’t have a dedicated staff-person with the expertise level required. When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help.

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Making the Business Case for Cloud-Based Planning and Reporting

Planful

Not being compliant with US GAAP or IFRS. Lack of controls and audit trails. Time-consuming and costly audit process. Improve audit trails, reduce audit costs. Challenges in consolidating multiple spreadsheets and correcting errors. Limited reporting and analysis capabilities, and too much manual effort.