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.
The Charity CFO
FEBRUARY 4, 2022
But the experience, responsibilities, and deliverables required of bookkeepers are very different from those required of accountants. . A bookkeeper records and organizes financial data; an accountant interprets and presents that data. . It breaks down like this: . What is nonprofit bookkeeping? .
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Future CFO
JULY 21, 2024
Now, beyond interpreting financial data, we’re now also embracing sustainability reporting and assurance – a rapidly growing field." While we need accountants with a strong foundation in accounting principles, data analysis skills, business acumen, we also need them to have a willingness to adapt to constant change.
The Charity CFO
OCTOBER 9, 2024
This makes it challenging to create technology that tracks data for fundraising purposes while still following accounting principles. Let’s explore why these two systems will likely never fully integrate by considering their separate purposes and data requirements. Need some help interpreting your financial data?
The Charity CFO
APRIL 5, 2022
Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. So if you expect to grow or search for new sources of funding, you’ll probably need to graduate to accrual-basis accounting. Don't hire the wrong accountant for your nonprofit!
The Charity CFO
FEBRUARY 25, 2022
It’s a list of the accounts you use in your organization to track your financial transactions. You don’t record any financial data in the Chart of Accounts itself; it’s like an organizational map of your accounting structure. Those number and name conventions are as follows: . Assets-1000s.
The Charity CFO
JULY 19, 2024
As an executive-level role, the CFO is in charge of guiding the overall financial strategy of the organization. Nonprofit CFOs are also responsible for clearly and accurately reporting financial data to the board of directors. An accountant takes on a higher level of responsibility than a bookkeeper.
Expert insights. Personalized for you.
78 
Let's personalize your content