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Her consulting experience included audit and risk advisory services, project management, business process improvement and information technology, primarily serving financial institutions. He has been part of numerous global and domestic companies with a great deal of restructuring and CFO management experiences.
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 AccountingPrinciples (GAAP), which can trip them up come tax time or during an audit.
Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accountingprinciples—GAAP statements must be based on actual financial results. Pro forma statements are also used to secure financing.
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