CFO Talks

NOVEMBER 20, 2024

For example, while South African companies follow International Financial Reporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP). IFRS is principles-based and allows for some judgment in financial reporting, while GAAP is more rigid, rules-based, and less forgiving.

IFRS 98

IFRS GAAP Currencies CFO 98

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. Create a monthly reconciliation process between both databases.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

The Charity CFO

JANUARY 5, 2023

When creating your fiscal policy, ensure that it complies with the Generally Accepted Accounting Principles (GAAP). Communicate regularly with key stakeholders to ensure that everyone is on the same page. Always Be Report-Ready With Accounting Solutions Built for Nonprofits. A Nonprofit Budget.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

Spreadym

JUNE 19, 2023

It may take some time for users who are unfamiliar with accounting principles to become proficient in using the software. It offers features such as cash flow forecasting, bank reconciliation, and expense tracking. Xero integrates with various payment platforms and provides real-time financial insights.

Cash Flow Forecasting 52

Cash Flow Forecasting Invoicing Forecasting Accounts Payable 52