article thumbnail

The Number One Problem With Selling a Business

Focus CFO

While they may have a bookkeeper and Tax CPA, they do not have a strong accounting department led by a real CFO. GAAP financials when times get tough, and others manage to survive with street smarts. GAAP based Managerial Financial Statements. GAAP or IFRS based. Don’t leave any money on the closing table!

Numbers 52
article thumbnail

Fund Accounting for Nonprofits & Charities

The Charity CFO

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.

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

Do Nonprofits Use Cash or Accrual Accounting?

The Charity CFO

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. Also, revenue must be recorded when it is actually or “constructively” received. Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time.

article thumbnail

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

The CFO College

Increase Your Value and Boost Your Services with Two CFO-Level Accounting Tools. Simply by implementing a few CFO-level skills and tactics (and learning how to prove our value to potential clients), you can position yourself as someone your clients instinctively turn to as they navigate the sometimes turbulent waters of running a business.