article thumbnail

5 Steps to Prepare your Organization for a Financial Audit

E78 Partners

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit.

article thumbnail

Why Excel Spreadsheets Are Not Meant for Business Budgeting

Centage

At Centage, we deliver an industry-leading solution known as Planning Maestro® to businesses like yours to overcome the challenges that Excel spreadsheets present. Highly Personalized Many Excel users utilize spreadsheets for personal budgeting and financial planning. You can also review your results with and without adjustments.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Your Ultimate Finance Department Checklist

CFO Simplified

As you audit your accounting and finance departments, you may find there are some key roles missing from your business that could be negatively impacting your company’s bottom line. This involves planning for the future. Accountants prepare financial statements, can execute internal audits, and prepare reports for taxes.

Finance 52
article thumbnail

5 Accounting Challenges Startups Face and How to Help Them Thrive

The CFO College

Help your startup clients stay cash flow positive with good budgeting and planning services. This data includes a capital plan, proper entity structure, pre-revenue valuation, and raise structure (convertible note or direct equity). Minimize expenses and reduce debt payments or lower the cost of inventory.

article thumbnail

The best software for financial close and overview of the process

Spreadym

Subsidiary Ledgers and Reconciliations: Subsidiary ledgers, such as accounts receivable and accounts payable, are reconciled to the general ledger to ensure consistency and accuracy. These entries correct errors, allocate costs, or reclassify transactions to the appropriate accounts.

article thumbnail

Enterprise Performance Management vs. Enterprise Resource Planning

Planful

Defining and Describing Enterprise Resource Planning. Enterprise Resource Planning, or ERP, is a system that is designed to process transactions and keep track of the resources within an organization. EPM assists the CFO and finance department in creating initial targets or budgets, and to coordinate planning across the organization.

article thumbnail

Two CFO-Level Accounting Tools to Add Value to Your Accounting Services

The CFO College

Acquiring these advanced types of services, like setting up a permanent audit trail, rolling cash forecast, month-end reporting, and strategic planning, is the secret sauce your potential client needs to know how their money flows in and out of their company (and what their financial future will look like).