CFO Share

AUGUST 5, 2021

In simple terms, that means the cannabis industry taxable income is closer to its revenue rather than profit. 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. Interest expense.

Forecasting 96

Forecasting GAAP Profit and Loss Accounting Principles 96

https://trustedcfosolutions.com/feed/

SEPTEMBER 15, 2022

Expansion contributes to a profitable business, but if you don’t prepare to handle rapid growth, you will ultimately hurt your bottom line and prevent your business from reaping the benefits. With split operations, there is an increased risk of inaccurate, error-prone data and a considerable loss of productivity.

Accounting 57

Accounting Profit and Loss GAAP Accounting Principles 57

Centage

NOVEMBER 22, 2023

In the detail-oriented world of finance, where precision and foresight are paramount, financial professionals often grapple with the daunting task of consolidating multiple Profit & Loss statements (P&Ls). While the challenges are undeniable, the evolving landscape of FP&A software offers promising solutions.

Profit and Loss 52

Profit and Loss Budgeting GAAP Financial Reporting 52

The Charity CFO

AUGUST 15, 2023

Myth #1: Nonprofit Accounting is Completely Different from For-Profit Accounting One reason accountants seeking a new role may steer clear of a nonprofit accounting position is that they assume the methods are completely different. In the for-profit world, revenue is typically only recorded when earned or cash has been collected.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

CFO Share

MARCH 14, 2022

QOE reports go beyond the balance sheet and profit and loss statement – they challenge the underlying data through rigorous testing and management interviews to assess accuracy, and risk. QOE reports are one of the two most important components of due diligence when buying a company (the other being legal diligence.).

Auditing 52

Auditing GAAP Accounting Principles Profit and Loss 52

Centage

NOVEMBER 8, 2023

Finance professionals working in the nonprofit sector deal with unique industry challenges: Managing multiple stakeholders and funding sources Understanding compliance and reporting standards Creating financial processes to account for full-time, part-time, and volunteer staff. No programming. No formulas. No links and logic to maintain.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Nonprofit Budgeting GAAP 52

Centage

NOVEMBER 22, 2021

For those dedicated finance professionals working in the nonprofit sector, the myriad of unique industry challenges from managing multiple stakeholders and funding sources, to understanding compliance standards and creating financial processes, add another layer of complexity to the process. It’s all automated and GAAP compliant.

Financial Planning and Analysis (FP&A) 72

Financial Planning and Analysis (FP&A) Nonprofit Planning Finance 72