CFO Dive

MARCH 21, 2024

It's been decades since the Financial Accounting Standards Board has made any major changes to GAAP accounting rules for software.

Accounting 270

Accounting GAAP Accounting Standards 270

CFO Dive

MARCH 1, 2023

Warren Buffett — CEO of Berkshire Hathaway and one of the world’s most renowned investors — didn’t disappoint fans of his folksy, acerbic writing in his latest shareholder letter.

GAAP 141

GAAP 141

CFO Dive

APRIL 5, 2024

Many businesses and financial report preparers already rely on the IAS government grant accounting rules because GAAP is silent on the subject.

GAAP 197

GAAP Financial Reporting Accounting 197

CFO Dive

AUGUST 17, 2022

The accounting changes come as crypto-asset valuations have taken a beating and drawn increasing regulatory scrutiny.

GAAP 141

GAAP Valuation Accounting 141

VCFO

APRIL 27, 2023

vcfo Austin welcomes Richard Buckley, Consulting CFO, to serve all Austin and Central Texas area clients. He served as CFO for H2X LLC and president and CFO for Conch / Druid Oilfield Services. The post Richard Buckley joins vcfo Austin as Consulting CFO appeared first on vcfo.

CFO 52

CFO GAAP Nonprofit Auditing 52

CFO Thought Leader

FEBRUARY 19, 2024

text 975: Turning the Tide at Beachbody | Marc Suidan, CFO, The Beachbody Company The post The Mentoring Round | Marc Suidan, CFO, The Beachbody Company appeared first on CFO THOUGHT LEADER, CFO, Finance, Leadership, CPA.

CFO 52

CFO Leadership Finance GAAP 52

The Charity CFO

JANUARY 18, 2022

In doing so, Zack will help ensure that our clients’ financials are prepared in accordance with general accepted accounting principles (GAAP) and their 990s meet IRS guidelines. Please join us in welcoming Zack Meyer to The Charity CFO! He looks forward to continuing to work with nonprofits both in St. Louis and nationwide.

CFO 52

CFO Nonprofit GAAP Accounting Principles 52

CFO Thought Leader

FEBRUARY 19, 2024

When PwC partner and relentless champion of shareholder value Marc Suidan stepped into the CFO office at The Beachbody Company in April 2022, intrigue was bound to follow. You will need all of these assets to excel as an accurate and insightful CFO in any company.”

CFO 52

CFO Restructuring Finance Numbers 52

The Finance Weekly

MARCH 25, 2024

Big companies used to hog all the CFO action, but now even small and medium-sized businesses are jumping on the bandwagon. Why the sudden CFO craze? In a nutshell, companies are starting to view CFOs as smart investments rather than just expenses. Highest Paid CFOs in the World in 2024 1. As the Director of Amyris Inc.,

CFO 97

CFO Finance Forecasting GAAP 97

The Charity CFO

MARCH 13, 2023

The way revenue and expenses are recorded can differ for GAAP purposes and tax purposes ( Form 990 ). For tax, this excess amount is reported as a contribution, and for GAAP, it can be reported as either a contribution or special event revenue. The Charity CFO can help you sort out the accounting considerations of hosting a fundraiser.

Nonprofit 98

Nonprofit GAAP CFO Entertainment 98

The Finance Weekly

DECEMBER 18, 2021

The job description for a financial controller and a CFO are eerily similar. A CFO is the top financial executive in a firm whose responsibilities encompass the controller and include the overall financial strategy and vision of the company. According to Payscale , the average salary for a CFO is 1.5 The case for a CFO.

CFO 52

CFO Budgeting GAAP Accounting Principles 52

The Charity CFO

DECEMBER 30, 2021

Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. It shows whether or not your accounting records are accurate per generally accepted accounting principles (GAAP), in the auditor’s professional judgment. The Charity CFO doesn’t conduct nonprofit audits.

Nonprofit 98

Nonprofit Auditing GAAP Accounting Principles 98

The Charity CFO

JANUARY 11, 2023

All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. If you recognize revenue too early, you could be in violation of Generally Accepted Accounting Principles (GAAP). Trust The Charity CFO Revenue Recognition for Nonprofits. Receive grants.

Nonprofit 52

Nonprofit GAAP Accounting Principles Auditing 52

The Charity CFO

MAY 10, 2022

So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. The changes to in kind donation reporting are specifically for organizations that follow generally accepted accounting principles (GAAP) in preparing their financial statements. Get the free guide!

Accounting Standards 98

Accounting Standards Accounting GAAP Nonprofit 98

CFO Share

AUGUST 5, 2021

The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Even worse, an IRS income tax return does not follow the same rules as GAAP. How do I maximize tax deductions under section 280E?

Forecasting 96

Forecasting GAAP Profit and Loss Accounting Principles 96

The Charity CFO

JANUARY 19, 2023

In the United States, these Generally Accepted Accounting Principles (or GAAP) are set by the Financial Accounting Standards Board (FASB). First, nonprofits must follow GAAP, the Generally Accepted Accounting Principles. The post How to Comply with Accounting Standards for Nonprofits appeared first on The Charity CFO.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

Focus CFO

DECEMBER 6, 2021

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

Numbers GAAP IFRS CFO 52

The CFO College

JUNE 3, 2021

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.

Accounting 52

Accounting CFO Auditing General Ledger 52

https://trustedcfosolutions.com/feed/

FEBRUARY 18, 2022

Financial governance allows your organization to meet compliance requirements, such as IFRS and GAAP updates, by having the right financial controls in place. For single and multiple family offices, governance is key to financial success and is an important element of your organizational structure.

GAAP 116

GAAP IFRS Compliance Forecasting 116

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. Today, the CFO is expected to inform strategic decisions that drive the success of the company. The CFO takes on the responsibility of FP&A.

Financial Planning and Analysis (FP&A) 52

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

Future CFO

APRIL 18, 2022

It also helps finance teams deliver financial results, create informative financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics. It enables finance teams to automate and accelerate the financial close with minimal IT support. DOWNLOAD NOW.

Finance 52

Finance IFRS GAAP Accounting Principles 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 CFO suite doesn’t want to be the “department of No.” It evolves with stage.

CFO 52

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

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 98

Nonprofit Accounting GAAP Auditing 98

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

FEBRUARY 25, 2022

For that reason, your account numbering, category names, and structure should follow standard guidelines and numbering conventions established by Generally Accepted Accounting Principles (GAAP). . If you’re ready to create a Chart of Accounts for your nonprofit, you can start with this template, made for you to customize by The Charity CFO.

Nonprofit 98

Nonprofit Accounting Accounts Payable GAAP 98

VCFO

NOVEMBER 1, 2023

Assessing Accounting For entities preparing GAAP compliant financial statements, adoption of Revenue Recognition Standard (ASC 606) and Lease Accounting Standard (ASC 842) is now mandatory. Therefore, it is important that the planning is not done by the CEO and CFO in isolation, but that management is fully engaged.

Finance 91

Finance Strategic Planning Auditing CFO 91

Centage

DECEMBER 21, 2023

hours for every report On-the-fly what-if scenarios 2-3 days per model Model major changes in hours >2 days for every what-if scenario “Prior to Centage I’d have a spreadsheet with 20 tabs, all of which were linked to a GAAP-based P&L on the first tab.

Budgeting 52

Budgeting GAAP Forecasting CFO 52

The Charity CFO

JANUARY 17, 2022

Get this FREE guide to discover what you need to do to ensure you hire the right accountant, bookkeeper, or CFO the FIRST time. Accrual accounting is required by Generally Accepted Accounting Principles (GAAP), which means that you’ll need accrual-based reports to complete a nonprofit audit. Get the free guide! Fundraising expenses.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

JANUARY 5, 2023

When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Bring GAAP compliance. The post 7 Essentials Of Nonprofit Financial Management appeared first on The Charity CFO. They provide a framework for the oversight and governance of financial operations and activities.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

CFO Leadership

OCTOBER 10, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.), The post Embracing AI in Finance and Accounting: Balancing Risk and Innovation first appeared on CFO Leadership.

Finance 95

Finance Accounting Auditing IFRS 95

The Charity CFO

JANUARY 31, 2022

To comply with Generally Accepted Accounting Principles (GAAP), you must separate your revenue into at least 2 categories: Restricted Revenue shows funds with donor-placed restrictions on how or when you can spend the money. At The Charity CFO, we help 150+ nonprofits get audit-ready financial reports monthly, like clockwork.

Nonprofit 98

Nonprofit Profit and Loss Auditing GAAP 98

Boston Startup CFO

OCTOBER 13, 2015

The auditors uncovered a horrific mistake that the previous accountant didn’t catch: We were accounting for our revenue completely wrong (non-GAAP) and we had to re-state our financials, something you never want to do in your business. Attributes of a Great CFO. Do You Need a CFO? Look at Groupon!).

CFO 52

CFO Tax Planning GAAP Budgeting 52

Focus CFO

MAY 25, 2022

10 Reasons CFO Ron Barker Enjoys Being on the FocusCFO Team. We are proud to share associate Ron Barker, one of our valued fractional CFOs, and his FocusCFO-themed take on the genre of Top Ten Lists. . A little bit about Ron: Ron spent his 32-year career with multiple GE businesses which included CFO of a $1.2B Top 10 Revealed.

GAAP 52

GAAP CFO Manufacturing Finance 52

The Charity CFO

JANUARY 13, 2022

Prepare financial statements per Generally Accepted Accounting Principles (GAAP). For the purposes of GAAP, donations of goods and services are valid revenue. The Charity CFO is your best option for outsourced accounting, from bookkeeping and financial statements to accounting for in-kind donations. Submit to an annual audit.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

Michigan CFO

MARCH 30, 2023

Learn more about Michigan CFO’s suite of financial services: On-Site Fractional CFO Virtual CFO Controller Services CFO Consulting The second is setting goals or contingencies (no one sets goals to close down) for where you need to be when you exit your business. Are your books organized and GAAP compliant?

CFO 40

CFO GAAP Sales Planning 40

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. That said, this is not the only option! Get the free guide!

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

Future CFO

JUNE 14, 2021

Only 52% of survey respondents believe that IFRS 17 earnings / equity will be slightly or much more helpful than current GAAP earnings / equity, and 54% believe that the need for non-GAAP reporting will either slightly or significantly increase.

IFRS 52

IFRS GAAP Auditing Planning 52