CFO News Room

DECEMBER 16, 2022

The CFO role is multi-faceted and includes everything from financial planning and analysis to business budgeting, financial decision-making, and risk management. They may work in various industries, such as investment firms, accounting firms, banks, or the government. Budget Analyst. Chief Compliance Officer.

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PYMNTS

AUGUST 1, 2018

The survey found that only 33 percent of sole practitioners and 26 percent of small accounting firms have updated their tax software in the last five years. As accountants struggle to brace for technological disruption, training “appears to be a low priority” for the industry, reports noted.

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Budgeting Technology Accounting Accounting Firms 40

The Charity CFO

OCTOBER 4, 2022

They also develop and implement operational procedures and systems and manage budgets and financial reports. Implement Budgets and Oversee Financial Strategy. The operations manager must also be acutely in-tune with the organization’s budget. That doesn’t mean that the operations manager needs to be an accountant.

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PYMNTS

DECEMBER 9, 2020

This has accelerated the need for spend management solutions and payment tools that enable businesses to review and approve transactions in real time, Caleb Jenkins , leader of client accounting services for tax and accounting firm RLJ Financial , said in a PYMNTS interview. Budgeting With Real-Time Data.

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General Ledger Budgeting B2B Accounting 62

The Charity CFO

MARCH 28, 2024

Focus on Budgeting and Financial Planning Like standardized financial policies, budgeting is an important aspect of your nonprofit accounting system. Your budget helps you plan out expenses and revenue in advance so you have a better idea of the financial health of your organization.

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Nonprofit Accounting Budgeting Compliance 52

CFO Plans

SEPTEMBER 24, 2024

Embrace Virtual Accounting Services for Startups For startups, managing finances can be particularly challenging. Virtual accounting services for startups provide a cost-effective solution, offering the same level of expertise as traditional accounting firms but with greater flexibility.

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PYMNTS

MARCH 15, 2019

Andre Kattoura, head accountant at small business accounting and tax services firm AccuAlly , explained to PYMNTS the friction SMBs face when they don’t outsource the accounting function. Rather, these tools can be helpful to the CPAs themselves, as part of the bigger picture of small business accounting services.

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Accounting Accounting Firms Auditing Budgeting 77

The Charity CFO

MAY 31, 2024

There are five main financial reports you may want to consider when presenting financial data to your board of directors, including: Statement of Financial Position Statement of Activities Statement of Cash Flow Budget vs. Actual Report Fundraising and Development Report 1.

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The Charity CFO

JULY 3, 2024

This means your review should include all aspects of your organization’s finances–from budgets to grant status. Budget vs. Actual Comparison: This lets you compare your actual financial performance against the projected budget. Step 2: Analyze budget variances. Check to make sure you are not over or under-spending.

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The Charity CFO

JULY 12, 2024

The timing of an organization’s income and expenses in cash-basis accounting can misrepresent the actual financial state of the nonprofit. Additionally, the cash-basis method can make accurate forecasting and budgeting difficult. Say a nonprofit hosts a large fundraising event in the second quarter.

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The Charity CFO

JANUARY 17, 2022

Because this method of accounting tracks directly with money going into or out of your bank account, it’s by far the simplest method of accounting. And it’s preferred by many small nonprofits without experience in bookkeeping or the budget to hire a full-time accountant or outsourced accounting service.

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The Charity CFO

JULY 1, 2024

Nonprofit Accounting Expertise and Experience Nonprofit accounting isn’t the same as for-profit business accounting. Your organization needs a nonprofit accountant who understands the differences and has experience in nonprofit accounting.

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Nonprofit Accounting Budgeting Accounting Firms 52

CFO Network

MARCH 18, 2024

Rather than allocating resources to recruitment, training, and employee retention, SMBs can choose a flexible payment model that aligns with their budget and needs. Access to Specialized Expertise: Why Outsourcing Matters Another compelling reason to consider outsourced accounting is access to specialized expertise.

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PYMNTS

MAY 22, 2020

Deloitte LLP, the global consulting accounting firm that had $42 billion in revenues last year, was hired by Colorado, Illinois and Ohio to develop their PUA programs. Arkansas’ PUA was shuttered on May 15 and was reopened on Wednesday (May 20), the newspaper reported.

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The Finance Weekly

APRIL 5, 2022

The impact of data driven financial analysis goes well beyond its traditional role of budgeting and forecasting, and has the potential to contribute greatly as a forward thinking department for real-time decision making. For finance teams this is more true than ever, and the recent market volatility has exasperated this issue.

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The Charity CFO

JANUARY 21, 2022

And fund accounting ensures that you’re maintaining the degree of transparency required of you. How fund accounting works: The core concept of fund accounting is the “funds.” . Unlike most accounting firms, we work exclusively with nonprofit organizations like yours.

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CFO Plans

JUNE 27, 2024

Certified public accountants (CPAs) within outsourced accounting firms offer expert tax planning and preparation services. These professionals offer strategic insights, financial forecasting, and budgeting assistance, acting as trusted advisors to guide businesses toward sustainable growth.

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Financial Reporting Tax Planning CFO Manufacturing 52

The Charity CFO

APRIL 2, 2024

It’s important to do your due diligence when looking for an accounting partner. Nonprofit accounting has several major differences from for-profit accounting. An accounting firm that specializes in nonprofit accounting knows the legal and tax limitations of a nonprofit organization.

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Nonprofit Accounting Accounting Firms Communication 52

The Charity CFO

MAY 19, 2023

By monitoring cash flow, nonprofits gain visibility into their financial health and can make informed decisions about resource allocation, budgeting, and planning. This supports informed decisions about spending, budgeting, and resource allocation. and expenses from various sources (salaries, rent, utilities, program costs, etc.).

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Cash Management Nonprofit Compliance Budgeting 52

CFO Plans

AUGUST 23, 2024

For many companies, particularly small to mid-sized enterprises, hiring a full-time Chief Financial Officer (CFO) isn’t always feasible due to budget constraints. This model allows businesses to access high-quality financial advisory and management services tailored to their specific needs and budget.

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The Charity CFO

JULY 19, 2024

The CFO role generally includes: responsible for the strategic direction and goal setting of a nonprofits accounting and financial management. Responsibilities typically include advanced analysis and reporting, budgeting, etc. The CFO generally works on high-level projects, such as creating a yearly operating budget.

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Michigan CFO

NOVEMBER 26, 2021

You can improve your financial position for your small business with a CFO that fits your budget. This doesn’t mean that your CFO handles accounting and tax preparation personally, but they do manage relationships with the people responsible for those things. You’re not an accounting firm, why would you be able to vet an accountant?

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CFO Talks

JANUARY 27, 2025

1 is, of course, the traditional route, which a lot of people follow and go through one of the accounting firms, and, typically, they go through audit related activities. If you think about the profession, you know, any one of the, let’s say, top 10 accounting firms globally, they think about Assurant.

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PYMNTS

JUNE 19, 2018

Small business software provider Zetran is adding an accounting solution to its suite of services, the company said on Sunday (June 17). In a press release , Zetran said it saw a gap in the market for affordable automation software for small and medium-sized business accounting firms.

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The Charity CFO

APRIL 22, 2024

Comparing your nonprofit budget to actual , for example, can help you better understand where resources are going. However, if that’s not in the budget you can provide appreciation by thanking employees. We’re happy to provide nonprofit accounting services to help take some of that stress off of your team.

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The Charity CFO

APRIL 19, 2022

So, if you’ve had trouble maintaining consistency in your staff and procedures, you may want to consider an outsourced accounting firm. If you have a reliable team member but they need to strengthen their bookkeeping and accounting skills, check out our free online nonprofit accounting course. ??????

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Nonprofit Compliance Auditing Accounting 98

CFO Talks

SEPTEMBER 28, 2022

My first accounting job was to do the accounts at the first place I worked and that was a small engineering company called Casting and Machining Services, I’m still in contact with the owners and we have a very good relationship. That’s where I started as a receptionist and then I moved over to the accounts and the payroll.

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The Charity CFO

AUGUST 15, 2023

Not only are accountants included in the management of grants like tracking how the funds are spent, they are also involved in the fundraising process by building budgets to justify the request. Fundraising and accounting typically work in tandem to strategize on what fundraising gaps exist and how to best ask for funding.

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Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

APRIL 18, 2024

Review your nonprofit budget and cash flow data to find areas for improvement. Many nonprofit organizations struggle to attract and retain top talent, whether from limited budgets or stigmas from job seekers. But what if you need extra help setting up your nonprofit accounting tech stack or recording donations correctly?

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PYMNTS

DECEMBER 9, 2019

The majority of this debt is in the form of unpaid B2B supplier invoices, the research noted, with KeysFin Managing Director Roxana Popescu highlighting the reliance of micro and small firms on trust and minimal background checks before signing deals with partners. million budget is not enough for the U.K.

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BlueLight

MAY 1, 2020

The CEO outsources accounting to a third-party accounting firm and may conduct simple FP&A. People used to think the CFO was there to tell you there isn’t enough budget when you needed something or to simply report financial results after the fact. The CFO takes on the responsibility of FP&A.

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

PYMNTS

DECEMBER 11, 2017

These same demands are now weighing on the accountants that service small firms as well. The latest data from small business accounting firm Xero suggests the accountants who are taking action on the call for advisory services are reaping the benefits. 61 percent of U.S.

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Accounting Benchmarking Accounts Payable Accounting Firms 42

CFO Plans

JULY 12, 2024

Integrating Financial Services for Efficiency SaaS-based accounting software can seamlessly integrate with other essential services, such as virtual CFO services, tax preparation services, and outsourced accounting firms. Get affordable accounting solutions for small businesses.

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Manufacturing CFO Accounting Financial Reporting 52

PYMNTS

JULY 5, 2017

Last month CXO Solutions announced the launch of CXO-Cloud for Oracle’s cloud-based Planning and Budgeting Cloud Services, another sign of support for the cloud by the firm. The cloud certainly has given this space a chance to improve, though. But data can quickly turn into a burden.

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PYMNTS

MARCH 6, 2020

UK Moves Closer to Big Four Accountancy Breakup. The British audit regulator, the Financial Reporting Council (FRC), announced plans this week to break up the dominance of the largest four accounting firms: PwC, EY, Deloitte and KPMG. How DSW Is Using POS Financing to Boost Online Spend (Buy Now, Pay Later Tracker).

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Future CFO

NOVEMBER 27, 2022

Three of the four largest accounting firms have pledged to invest more in AI and data analytics products and training over the next few years so we can expect widespread adoption of modern technologies for day-to-day business activities. You get this whole new level of streamlined accounting and compliance processes.

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Finance CFO Compliance Auditing 52

BlueLight

JULY 30, 2020

Rather, our job is to provide a framework for the department managers to think about their own budget.” “It Accounting ?—?Nearly Nearly all companies responded using an outsourced accounting firm for general book keeping in the early days of the company life. This task falls to the finance leader.” “The

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