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Cross-Listed Companies, Navigating International Reporting Standards 

CFO Talks

The next logical step might be to take your company to international markets by listing on a foreign stock exchange. IFRS is principles-based and allows for some judgment in financial reporting, while GAAP is more rigid, rules-based, and less forgiving. This isn’t just an accounting challenge; it’s a storytelling challenge.

IFRS 98
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Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. The changes to in kind donation reporting are specifically for organizations that follow generally accepted accounting principles (GAAP) in preparing their financial statements. Who do the changes impact?

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How Do I Forecast with Tax Code 280E?

CFO Share

The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Even worse, an IRS income tax return does not follow the same rules as GAAP. Other distribution expenses, such as rent.

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Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. . So let’s start with the basics, and later we’ll dig into some of the things that make nonprofit accounting unique. . Accounts Payable. Nonprofit accounting has its own terminology.

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Accounting for In-Kind Donations to Nonprofits

The Charity CFO

Accounting for in-kind donations isn’t just important; it’s required for many nonprofit organizations. . Prepare financial statements per Generally Accepted Accounting Principles (GAAP). For the purposes of GAAP, donations of goods and services are valid revenue. Step #1: Establish Fair Market Value .

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California CPAs Call For Crypto Accounting Clarity

PYMNTS

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.

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Financial Accounting Hierarchy - By JP Puchulu

Boston Startup CFO

They prepare the income statement, balance sheet, and statement of cash flows using the accrual accounting method. Familiarity with Generally Accepted Accounting Principles (GAAP) is essential.