The Charity CFO

APRIL 20, 2023

However, nonprofit organizations face unique accounting challenges and not all commercial accounting software may be equipped to handle. Where to start with nonprofit accounting software Nonprofits have to comply with strict financial accounting standards. Get the free guide!

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Nonprofit Accounting Accounting Standards Budgeting 98

Beacon CFO Plus

NOVEMBER 30, 2023

How to Divide Responsibilities and Prioritize Communication The relationship between a fractional or outsourced Chief Financial Officer (CFO) and your company’s public accounting firm should be collaborative, clear, and well-defined. This ensures your company’s financial and accounting needs are met effectively.

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Future CFO

SEPTEMBER 24, 2023

Manish Modani , CFO at RDC Concrete (India) , discusses what fuels the newfound appreciation for financial expertise hence the observed evolution to the CFO role. Over the past few decades, the role of the CFO has undergone a remarkable transformation.

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CFO Manufacturing Accounting Standards Compliance 52

CFO News

OCTOBER 25, 2023

The National Financial Reporting Authority (NFRA) has requested audit affiliates of Deloitte, EY, KPMG, Grant Thornton, and two Ahmedabad-based CA firms to provide information regarding their audit practices while auditing Adani companies. The Adani Group has stated that it has followed all relevant accounting standards and laws.

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Accounting Standards Auditing Accounting Financial Reporting 52

CFO Talks

SEPTEMBER 30, 2024

This is not just an accounting issue; it’s a symptom of a broader problem that threatens our ability to compete in the global economy. At the heart of this issue is IAS 38 , the international accounting standard for intangible assets, which may be doing more harm than good for South Africa’s economic ambitions.

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Accounting Standards Economics IFRS Auditing 90

VCFO

MAY 30, 2022

Joining vcfo’s Houston market as a Consulting CFO is Jose Perez-Bello. Jose is a senior finance professional with more than 30 years of experience in financial management roles in manufacturing and international energy ventures. Jose is fluent in both English and Spanish. About vcfo.

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CFO Leadership

OCTOBER 10, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. For instance, could financial statements generated by ChatGPT withstand audit scrutiny? Whether ChatGPT applications could pass a SOC-1 audit, a crucial certification for control over financial reporting, remains to be seen.

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Accounting Finance Auditing IFRS 95

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. The CFO suite doesn’t want to be the “department of No.”

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CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

The Charity CFO

JANUARY 5, 2022

For example, “salary” is a straightforward line-item on a for-profit financial report. . To complete your IRS 990, you’ll need to report your expenses based on how they fall within 3 categories, they are: . The #1 accounting mistake that nonprofits make is hiring the wrong people to help them.

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Nonprofit Auditing Accounting GAAP 96

Future CFO

APRIL 18, 2022

It enables finance teams to automate and accelerate the financial close with minimal IT support. It also helps finance teams deliver financial results, create informative financial and management reports, and provide the chief financial officer (CFO) with an enterprise view of key financial ratios and metrics.

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Finance IFRS GAAP Accounting Principles 52

The Charity CFO

JANUARY 21, 2022

If you’re looking for info on fund accounting in government here is a great resource for you. Both Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) 116/117 require at least a minimum level of fund reporting, so you’ll need it in order to pass an audit.

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Nonprofit Accounting GAAP Accounting Principles 98

VCFO

NOVEMBER 1, 2023

Assessing Accounting For entities preparing GAAP compliant financial statements, adoption of Revenue Recognition Standard (ASC 606) and Lease Accounting Standard (ASC 842) is now mandatory. Changing how revenue is reported impacts EBITDA and also balance sheet items such as deferred revenue and deferred expenses.

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Finance Strategic Planning Auditing CFO 88

Fpanda Club

SEPTEMBER 2, 2021

FP&A directors can often boast of a considerable track record in financial planning and analysis, also they understand very well the finance function in general and the business model of the company, which leads them to the next step of their careers as Chief financial officer (CFO).

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CFO Talks

AUGUST 14, 2024

Best Practices in Corporate Governance for Ethical Excellence In today’s rapidly evolving business environment, the role of the Chief Financial Officer (CFO) has expanded beyond managing the finances of an organization. As a CFO, you play a crucial role in establishing and reinforcing this tone.

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The Finance Weekly

MARCH 28, 2022

What's behind it, and why should CFOs and finance leaders care about it? Continue reading to learn what ESG reporting is, what's new with ESG reporting standards, why Finance teams should care, and the five benefits of aligning ESG and financial reporting.

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Finance Auditing Accounting Standards IFRS 52

PYMNTS

OCTOBER 11, 2018

Corporates are gearing up to manage a whole slew of accounting standards changes in the coming years, but one of the more immediate effects involves how leases are recorded on financial statements. Some companies may seek legal advice on adopting the new standards or interpreting loan covenants.

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VCFO

JULY 22, 2022

ASC 842 is a new accounting standard set forth by the Financial Accounting Standards Board (FASB). These impacts will include major changes to accounting practices and financial reporting, as well as increased scrutiny of contracts, service agreements, and all leases starting now and moving forward.

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Accounting Accounting Standards Economics Advertising 75

CFO News

JANUARY 17, 2024

The National Financial Reporting Authority (NFRA) is planning to directly engage audit committees of large listed companies to sensitise them about accounting standards and their role, a first-of-its kind regulatory outreach to curb corporate frauds, people aware of the watchdog's thinking told ET.

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Auditing Planning Accounting Standards Financial Reporting 52

The Charity CFO

APRIL 13, 2023

This is why at The Charity CFO , we strive to provide relevant resources and support to ensure that your organization runs smoothly and efficiently. This week, we’ve rounded up 7 keys to nonprofit financial management. This establishes core accounting standards for nonprofits which help with accountability and transparency.

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Nonprofit Compliance Accounting Standards Budgeting 52

CFO Thought Leader

JULY 31, 2024

He also contributed to the International Public Sector Accounting Standards Board while serving as a captain in the Coast Guard, highlighting his expertise in public sector financial management. Coast Guard Granted Larry White an Expansive Finance Career appeared first on CFO THOUGHT LEADER. Coast Guard.

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Finance General Ledger Education Accounting Standards 52

The Charity CFO

OCTOBER 9, 2024

The Core Functions of Accounting Software Like fundraising software, accounting software uses technology to simplify your bookkeeping and accounting processes. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements. Need some help interpreting your financial data?

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Accounting GAAP Nonprofit Accounting Principles 52

Future CFO

MAY 22, 2022

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 16, Leases. The post The fundamentals of IFRS 16 appeared first on FutureCFO.

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IFRS Financial Reporting Accounting Standards Accounting 98

Future CFO

APRIL 17, 2022

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IFRS 5, 'Non-Current Assets Held for Sale and Discontinued Operations'. The post The fundamentals of IFRS 5 appeared first on FutureCFO.

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IFRS Financial Reporting Sales Accounting Standards 98

The Finance Weekly

JANUARY 9, 2022

CFOs and climate change: what’s the connection? Other than perhaps taking public transportation to work, what else can a CFO do more than any other average person? Many investors and stakeholders are attempting to hold companies to a certain standard of emissions and mitigation efforts, or a future commitment to one.

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CFO Forecasting Leadership Budgeting 52

Future CFO

DECEMBER 31, 2021

These include developing the governance structure and control environment for the company’s environmental, social and governance factors and risks, while providing ESG oversight, monitoring and accountability. CFOs are the logical candidate to lead the ESG initiative.

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Leadership Finance GAAP Forecasting 98

Future CFO

NOVEMBER 27, 2023

The Financial Reporting Council (FRC) calls for IFRS 17 disclosures improvements in its recently published IFRS 17 'Insurance Contracts' thematic review.

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IFRS Accounting Standards Performance Measuring Reconciliations 52

The Charity CFO

AUGUST 15, 2023

To support and maintain the organization’s tax-exempt status, nonprofit accountants have to understand and adhere to IRS rules for: Tax-exempt organizations Reporting requirements Maintaining proper documentation Reporting Financial reports and statements provide a transparent view of the organization’s financial performance.

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Nonprofit Accounting Profit and Loss Budgeting 52

CFO Leadership

OCTOBER 18, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. For instance, could financial statements generated by ChatGPT withstand audit scrutiny? Whether ChatGPT applications could pass a SOC-1 audit, a crucial certification for control over financial reporting, remains to be seen.

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Accounting Finance Auditing IFRS 52

The Charity CFO

NOVEMBER 10, 2022

As a result, the organization might not adhere to Generally Accepted Accounting Principles (GAAP), which can trip them up come tax time or during an audit. Governance issues, tight regulations, and high public accountability standards mean strong accounting practices are more important than ever.

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The Charity CFO

DECEMBER 15, 2023

A strong in-kind donation recording system will help you stay in compliance with accounting standards for in-kind contributions. Reach Out to the Charity CFO! Feeling a little overwhelmed about your revenue streams and other accounting processes? The Charity CFO provides expert tax and accounting services for nonprofits.

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Nonprofit Compliance Valuation CFO 52

The Charity CFO

DECEMBER 28, 2022

One way to ensure you remain within the confines of your tax-exempt status is to file and share a number of financial statements. You have a primary responsibility to your donors, grantmakers, and other stakeholders to find ways to share these statements while still following the highest accounting standards. Get the free guide!

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The Charity CFO

APRIL 5, 2023

Do You Struggle to Make Sense of Your Financial Statements? Get our FREE GUIDE to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances. The post Nonprofit Compliance Requirements appeared first on The Charity CFO. Get the free guide!

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Nonprofit Compliance Auditing Accounting 52

The Charity CFO

NOVEMBER 30, 2023

Revenue recognition is even more complicated than ever thanks to the changes in how FASB (Financial Accounting Standards Board) now requires nonprofits to record donations. When it comes to your organization’s accounting, it’s not worth the risk to do it all by yourself. That’s where The Charity CFO can help.

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Nonprofit Auditing Compliance Education 52

The Charity CFO

MAY 11, 2023

When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help. If you’ve decided the outsourced bookkeeping is right for your organization, get in contact with us and see how Charity CFO can help ! Do You Struggle to Make Sense of Your Financial Statements?

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Nonprofit Communication Auditing GAAP 52

The Charity CFO

DECEMBER 8, 2022

According to the Financial Accounting Standards Board (FASB) guidelines, a grant should be recognized as revenue when all eligibility requirements have been met by the recipient and there is reasonable assurance that the revenue will be collected. Develop strong financial reporting procedures. Get the free guide!

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Accounting Nonprofit Auditing Compliance 52

The Finance Weekly

APRIL 28, 2024

Also, the subscription service comes with cool features such as follows: Keeping tabs on inventory Sorting out your books Sending out invoices smoothly Managing payroll Dishing out financial reports Linking up with other apps for a seamless workflow Plus, you can share access with different permissions for your team.

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CFO Share

APRIL 3, 2024

What to Look for in a Bookkeeper Finding a bookkeeper is more than searching for a vendor; it’s about finding a teammate—a professional who understands the importance of accuracy and timeliness in financial reporting. Do not go with the cheapest option. Onboard with your new firm.

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