The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Sure, your mission should be a priority, but managing finances can’t be neglected either. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. A Nonprofit Budget.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). Budgeting Nothing says healthy financial management quite like a robust and well-thought out budget process. These can help drive the budget process, financial goals, and strategic decisions.

Nonprofit 52

Nonprofit Compliance Accounting Standards Budgeting 52

Cube Software

MAY 11, 2023

Pro forma statements are financial projections that ask and attempt to answer "what if" questions. What will our finances look like?" The Securities and Exchange Commission (SEC) requires that discrepancies between pro forma and GAAP-compliant financial reports be explained when released to the public.

GAAP 40

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

The Charity CFO

NOVEMBER 10, 2022

Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

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. Budgeting and Planning Budgeting and planning are two essential aspects of a nonprofit accounting system.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

JANUARY 21, 2022

Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit. And the more transparent your accounting system is, the more accountable you’ll be with the public and GAAP.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

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. Properly evaluate each company and their credentials before letting go of your financial data. Get the free guide!

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

Planful

JULY 27, 2016

Are you wondering how best to make the business case to your company for investing in a cloud-based planning or reporting solution? Reducing Reliance on Spreadsheets for Budgeting, Planning, and Reporting. Lack of security sending budgeting spreadsheets via email. Limited reporting and analysis capabilities.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Planning Value-Added Analysis Budgeting 40

BlueLight

MAY 1, 2020

Traditionally, the chief financial officer (CFO) is responsible for tracking the company’s past and present financial situation and ensuring on-time and accurate financial reporting. This function is called financial planning and analysis (FP&A). The first step is getting good financial reporting.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) CFO Strategic Planning Startups 52

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 following are select responses from the finance leaders.

CFO 52

CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 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. He also stepped outside of his world of finance and dove into other parts of our business. It’s a growing pain that many small businesses have.

CFO 52

CFO Tax Planning GAAP Budgeting 52

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? Changing how revenue is reported impacts EBITDA and also balance sheet items such as deferred revenue and deferred expenses. audited or reviewed financial statements).

Finance 91

Finance Strategic Planning Auditing CFO 91

Planful

SEPTEMBER 6, 2021

In an ideal world, financial reports should build shareholder trust by offering accurate data about the performance of the company. In reality, a company’s financial report can be more flimsy—involving estimates and judgment from leadership that’s far from the truth. at its peak to $0.26

Financial Reporting 40

Financial Reporting Valuation IFRS GAAP 40

The Charity CFO

JANUARY 17, 2022

You need to get a better grasp of your organization’s finances now. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. It shows as a liability on your financial reports, so it reduces your net assets. It’s a necessity.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

Onplan

NOVEMBER 30, 2022

Finance professionals and teams today have numerous solutions available to help them plan, budget, forecast, and analyze financial information. OnPlan is an all-in-one FP&A solution that streamlines financial forecasting, budgeting, and workflow management by connecting existing spreadsheets to a robust analytics hub.

Financial Planning and Analysis (FP&A) 52

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