The Charity CFO

APRIL 5, 2022

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. Financial statement audit or review – if you are required to undergo a financial statement audit or assessment, using the accrual method to be in accordance with GAAP will make the process much smoother and less expensive.

Nonprofit 86

Nonprofit Accounting GAAP Auditing 86

The Charity CFO

FEBRUARY 4, 2022

A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . The nonprofit bookkeeper is the front line in the battle for the accurate financial data you need to run your business, so let’s review the core responsibilities of a nonprofit bookkeeper. .

Nonprofit 85

Nonprofit Invoicing General Ledger Accounting 85

Future CFO

DECEMBER 31, 2021

Their responsibilities already entail ensuring that the financial report is accurate, complete and verifiable, according to GAAP accounting standards and disclosures. The post Digital acceleration to drive finance leadership in 2022 appeared first on FutureCFO.

Leadership 98

Leadership Finance GAAP Forecasting 98

CFO Leadership

OCTOBER 10, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. System and Organization Controls (SOC) reports are critical components in the controls infrastructures of any company relying on third party systems and applications in the production of financial data and reports.

Accounting 95

Accounting Finance Auditing IFRS 95

The Charity CFO

MAY 2, 2022

The IRS has different reporting requirements than GAAP, so the balance sheet section of your 990 may not match your audited financial statements. But it still gives anyone the ability to assess your overall financial status in just a few minutes. ?? appeared first on The Charity CFO. Get the free guide!

Nonprofit 95

Nonprofit GAAP CFO Accounting 95

Spreadym

AUGUST 10, 2023

What is financial reporting software? Financial reporting software refers to specialized tools or applications designed to help organizations generate, manage, and present their financial data in a clear and organized manner. Exporting and Sharing: The ability to export reports in various formats (PDF, Excel, etc.)

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

The Charity CFO

JULY 12, 2024

Many regulatory bodies and grantors require accrual-basis financial statements. Adopting the accrual method ensures compliance with Generally Accepted Accounting Principles (GAAP) and other relevant standards. The post Why Nonprofits Need to Switch from Cash-Basis to Accrual-Basis Accounting appeared first on The Charity CFO.

Nonprofit 52

Nonprofit Accounting Budgeting GAAP 52

The Charity CFO

MAY 11, 2023

Properly evaluate each company and their credentials before letting go of your financial data. Security Concerns The financial data of an organization is incredibly sensitive. When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help.

Nonprofit 52

Nonprofit Communication Accounting GAAP 52

CFO Leadership

OCTOBER 18, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. System and Organization Controls (SOC) reports are critical components in the controls infrastructures of any company relying on third party systems and applications in the production of financial data and reports.

Accounting 52

Accounting Finance Auditing IFRS 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. The Charity CFO is an outsourced accounting firm for nonprofit organizations. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52