Accounting Principles, Accounting Standards and GAAP

Accounting Principles

Accounting Standards

GAAP

Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

MAY 10, 2022

If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. Get the free guide!

Accounting Standards

Accounting Standards Accounting GAAP Nonprofit

How to Comply with Accounting Standards for Nonprofits

The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Because of their unique structure and operational model, nonprofits must comply with various accounting standards that are, in many ways, different from for-profit organizations.

Accounting Standards

Accounting Standards Nonprofit Accounting GAAP

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Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Bramasol

JUNE 10, 2022

One important side effect of the ongoing trend toward globalization is the need to comply with a range of different accounting principles as well as with disparate reporting and compliance mandates. Parallel Ledgers - in which multiple ledgers are used, with an accounting principle applied to each ledger.

Accounting Principles

Accounting Principles IFRS Accounting SAP

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The Growth Architect: How Financial Leaders are Unlocking Potential

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

From Start to Scale: Driving Growth Through Seamless Payments Implementation

Solve Your Firms Automation Complexities Once and For All

Profit in the Details: Rethinking Spend for Monumental Impact

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Are Your Compliance Processes Keeping Up with Evolving Audit Requirements?

Bramasol

MAY 13, 2024

The PCAOB and AICPA essentially interpret and enforce accounting rules as promulgated by the Financial Accounting Standards Board (FASB) , which is responsible for establishing and improving accounting standards for financial reporting in the United States. Why Should You Care?

Auditing

Auditing Compliance SAP Accounting Standards

California CPAs Call For Crypto Accounting Clarity

PYMNTS

JUNE 10, 2019

Reports in The Block Crypto late last week said a group of California CPAs has sent a letter to the Financial Accounting Standards Board, a federal board that sets Generally Accepted Accounting Principles (GAAP), requesting that it consider establishing a task force to address a lack of clarity in cryptocurrency accounting standards.

Accounting

Accounting IFRS GAAP Accounting Standards

Fund Accounting for Nonprofits & Charities

The Charity CFO

JANUARY 21, 2022

If you’re looking for info on fund accounting in government here is a great resource for you. 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.

Nonprofit

Nonprofit Accounting GAAP Accounting Principles

The Dual Purposes of Accounting and Fundraising Software

The Charity CFO

OCTOBER 9, 2024

This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements.

Accounting

Accounting GAAP Nonprofit Accounting Principles

IBM Cognos Controller: Financial close management managed by the office of finance

Future CFO

APRIL 18, 2022

DOWNLOAD NOW. The post IBM Cognos Controller: Financial close management managed by the office of finance appeared first on FutureCFO.

Finance

Finance IFRS GAAP Accounting Principles

Zack Meyer Joins The Charity CFO as Director of Quality Assurance

The Charity CFO

JANUARY 18, 2022

In this new role, he will serve as one of our in-house experts on existing and emerging nonprofit accounting standards and auditing best practices. 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.

CFO

CFO Nonprofit GAAP Accounting Principles

Understanding Functional Expenses for Nonprofits

The Charity CFO

JANUARY 5, 2022

Reporting functional expenses has been required by Generally Accepted Accounting Principles (GAAP) since 2017, as detailed in ASU 2016-14. Being clear, consistent, and accountable in your reporting of expenses is a big step toward earning their trust. . So you really don’t have a choice, but if you want more reasons….

Nonprofit

Nonprofit Auditing Accounting GAAP

What is Quality of Earnings?

CFO Share

MARCH 14, 2022

Audited financial statements focus on compliance with GAAP accounting standards, whereas Quality of Earnings reports focus on the company’s earnings history and potential. Significant and/or unusual accounting policies such as: Changes in accounting methods. Changes in accounting principles.

Auditing

Auditing GAAP Accounting Principles Profit and Loss

How a CFO Ensures Compliance in Financial Reporting

CFO Share

JUNE 27, 2024

In general, financial statement compliance involves adhering to established standards and regulations, such as Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB) guidelines. What is Financial Statement Compliance?

Financial Reporting

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7 Keys to Nonprofit Financial Management

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). For nonprofits, however, there is an additional and specific set of standards that organizations must follow, as set out by the FASB 117.

Nonprofit

Nonprofit Compliance Accounting Standards Budgeting

The most and least complex jurisdictions for financial compliance in APAC

Future CFO

NOVEMBER 2, 2020

Many jurisdictions are moving towards international accounting standards such as International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (GAAP). However, APAC and EMEA take a much more localised approach.

Compliance

Compliance IFRS GAAP Accounting Principles

Nonprofit Accounting Services: The Right Solution

The Charity CFO

NOVEMBER 10, 2022

Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting. As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit.

Nonprofit

Nonprofit Accounting Auditing GAAP

The 5 Best Financial Reporting Software to Enhance the Productivity of CFO

Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have.

Financial Reporting

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

What is Net Book Value?

The Finance Weekly

APRIL 6, 2024

This accounting principle offers an insightful perspective into a business's worth , underlining the importance of financial reporting in today's market dynamics. Understanding the Net Book Value (NBV) of a company's assets is critical for knowing its financial health and potential for future growth.

GAAP

GAAP Accounting Principles Financial Reporting Accounting

Corporate Finance Brief

Updated Accounting Standards for In-Kind Donations (2022)

How to Comply with Accounting Standards for Nonprofits

Webinars

Trending Sources

Parallel Accounting is a Key Tool for Global Companies with Multiple Reporting Requirements

Webinars

Are Your Compliance Processes Keeping Up with Evolving Audit Requirements?

California CPAs Call For Crypto Accounting Clarity

Fund Accounting for Nonprofits & Charities

The Dual Purposes of Accounting and Fundraising Software

IBM Cognos Controller: Financial close management managed by the office of finance

Zack Meyer Joins The Charity CFO as Director of Quality Assurance

Understanding Functional Expenses for Nonprofits

What is Quality of Earnings?

How a CFO Ensures Compliance in Financial Reporting

7 Keys to Nonprofit Financial Management

The most and least complex jurisdictions for financial compliance in APAC

Nonprofit Accounting Services: The Right Solution

The 5 Best Financial Reporting Software to Enhance the Productivity of CFO

What is Net Book Value?

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