The Charity CFO

FEBRUARY 4, 2022

Nonprofits must maintain thorough and accurate financial records to comply with both Generally Accepted Accounting Principles ( GAAP ) and maintain their tax-exempt status with the IRS. Prepare bank reconciliations. And it’s impossible to do that without accurate bookkeeping. Record and classify payments and bank transfers .

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

Planful

JANUARY 19, 2016

Intercompany reconciliations were a nightmare, with many phone calls to the foreign subs. Consolidating the financial results following US GAAP or IFRS guidelines, including these steps: Performing currency conversions. Managing complex intercompany reconciliations. I think we used Lotus 123.) Multiple reporting hierarchies.

IFRS 40

IFRS GAAP Reconciliations Auditing 40

Planful

FEBRUARY 21, 2017

These results then require consolidation following US GAAP or IFRS guidelines. If the business operates in different geographies there will be the additional complexity of multiple currency conversions, intercompany reconciliations and accurate accounting of minority interests. Attend to Reconciliations Early.

Reconciliations 40

Reconciliations IFRS GAAP Leverage 40

Planful

AUGUST 1, 2017

Intercompany reconciliations. Multi-GAAP reporting (i.e., US GAAP, Canadian GAAP, IFRS, etc.). In an organization that’s operating with multiple divisions, in multiple countries and regions, the process can become complex. This includes dealing with the following issues: Currency translation.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

Spreadym

AUGUST 10, 2023

Compliance: Adherence to accounting standards and regulations, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Bank Reconciliation: Xero's bank reconciliation features help ensure accurate financial data, which is crucial for reliable reporting.

Financial Reporting 52

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

CFO News Room

NOVEMBER 2, 2022

It should also be noted that, at least for state-registered advisers, financial statements must typically be prepared in accordance with GAAP. This is why most advisers do not collect more than $1,200 in fees per client, 6 months or more in advance, so as to avoid the requirement to prepare and publicly report their balance sheet.

Compliance 130

Compliance GAAP Investments Advertising 130

Planful

JULY 27, 2016

Not being compliant with US GAAP or IFRS. Streamline adjustments and intercompany reconciliations by 50 – 80%. Challenges in consolidating multiple spreadsheets and correcting errors. Limited reporting and analysis capabilities, and too much manual effort. Lack of controls and audit trails. Lack of security.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Planning Value-Added Analysis Budgeting 40