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.
Fpanda Club
JANUARY 23, 2025
Such tasks as reconciling accounts, monthly closing, preparing financial statements are part of the accounting cycle and are typically managed by accounting departments. This can lead to burnout, missed deadlines, and a loss of focus on high-value activities.
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Jedox Finance
OCTOBER 6, 2022
The profit and loss statement is one of the main parts of the annual statement that companies must prepare at the end of a financial year, along with the cash flow statement and accounting balance sheet. This article discusses influential factors, advantages, and common problems considering the profit and loss statement.
The Charity CFO
JANUARY 17, 2022
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. . How is nonprofit accounting different? Difference #2: Fund Accounting.
PYMNTS
DECEMBER 3, 2019
The We Company , the parent of WeWork , uses a cash-flow metric called the “contribution margin,” which showed that its core services were profitable, Bloomberg Tax reported on Tuesday (Dec. The company used generally accepted accounting principles (GAAP) to essentially turn a $1.9 billion net loss into a $142 million profit.
CFO Share
AUGUST 5, 2021
In simple terms, that means the cannabis industry taxable income is closer to its revenue rather than profit. 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. Interest expense.
The Charity CFO
JANUARY 31, 2022
You may also know it as a profit and loss statement or income and expense report. In the for-profit world, they call the difference between revenues and expenses net income. Or profit. . It shows you the “profit” of your nonprofit. But here, we call profit a “surplus” instead.
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