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

Centage

DECEMBER 7, 2022

In addition, here are key requirements to evaluate and prioritize as part of your budgeting and planning process to ensure you are ready for the year ahead. Real-time reporting – specifically around variance reporting, and alerting. Want to see it in action? Check out our video here.

Budgeting 98

Budgeting Planning Forecasting GAAP 98

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. When you work in an environment that prioritizes these things, you’ll never have to wonder if everyone has the same goals.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52