CFO News

MAY 31, 2024

He highlighted the need for meaningful communication between audit committees and auditors, stating that it should not be a mere formality. Pandey's remarks come as the NFRA plans to engage with large listed companies to promote accounting standards and curb corporate frauds.

Auditing 45

Auditing Accounting Standards Communication Finance 45

PYMNTS

DECEMBER 16, 2016

The move to embrace automation, said Krumwiede, represents a “slow evolution,” with inefficiencies still extant as there must be communication between departments and data must be compiled and formatted in the practice of reconciliation. The optimization of the accounting process, he said, is difficult at times with limited staff.

IFRS 74

IFRS Reconciliations GAAP Accounting Standards 74

Future CFO

DECEMBER 31, 2021

Here are the five most important skills identified: A strong understanding of risk management The ability to use new software or technology The ability to communicate complex financial information to different stakeholders A strong understanding of financial best practices The ability to collaborate with colleagues from other functions.

Leadership 98

Leadership Finance GAAP Forecasting 98

Bramasol

SEPTEMBER 29, 2023

Globalization CFOs have long needed to assure compliance with two different standards-setting bodies. The first is the Financial Accounting Standards Board (FASB) in the United States. IFRS S1 requires companies to communicate the sustainability risks and opportunities they face over the short, medium, and long term.

Technology 89

Technology IFRS SAP Compliance 89

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). For nonprofits, however, there is an additional and specific set of standards that organizations must follow, as set out by the FASB 117. This also extends beyond the organization.

Nonprofit 52

Nonprofit Accounting Standards Compliance Budgeting 52

CFO Leadership

OCTOBER 10, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.),

Accounting 95

Accounting Finance Auditing IFRS 95

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.

Accounting Firms 52

Accounting Firms CFO Accounting Prioritization 52

E78 Partners

JANUARY 5, 2024

Audits are an essential part of ensuring that a company’s financial statements are accurate and compliant with accounting standards. Orientation and Training: Provide management with detailed training on acquisition-related accounting topics that impact financial reporting and the audit process.

Auditing 59

Auditing Valuation Concentration Reconciliations 59

E78 Partners

SEPTEMBER 21, 2023

This is not just because of the intricacies and specificities required by the auditing standards but also due to the numerous challenges faced by organizations in the run-up to an audit. Furthermore, in an era of intricate financial landscapes, preparing for compliance with complex accounting standards becomes non-negotiable.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 52

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. Evaluating the carrying value of intangible assets such as goodwill and intellectual property.

Finance 88

Finance Strategic Planning Auditing CFO 88

CFO Share

APRIL 3, 2024

The ideal candidate will possess: Experience with your software Excellent communication skills The courage to ask questions, not assume answers Meticulous attention to detail Rigorous and disciplined work ethic Experience with Your Accounting Software Your bookkeeper should have experience with the accounting software your business uses.

Communication 52

Communication Accounting Standards Prioritization Financial Reporting 52

The Charity CFO

MAY 11, 2023

Make sure that you find a partner in your service provider and ensure that your access and communication channels are clearly defined. You may also choose to outsource certain aspects of your accounting that may require less immediate access. Timeliness and Accessibility Access is another common fear.

Nonprofit 52

Nonprofit Communication Accounting Auditing 52

CFO Share

NOVEMBER 15, 2023

An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) This will include auditor recommendations but also audit-process issues like communication, file sharing, and general project management. Most accountants want to fix every issue identified, but business resources are limited. What did not go well?

Auditing 52

Auditing IFRS GAAP Invoicing 52

The Charity CFO

OCTOBER 9, 2024

Accounting rules suggest (and your auditors would require) that this gift be made in writing. The verbal pledge does not meet accounting standards, so it should not be included in your accounting database. The fundraiser on your team would record this verbal pledge in their fundraising database – rightfully so.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

CFO Talks

AUGUST 14, 2024

CFOs must ensure that financial statements are prepared in accordance with international accounting standards and that any material information is disclosed promptly. This includes maintaining open lines of communication with shareholders, regulators, employees, and the community at large.

CFO 52

CFO Risk Management Leadership Communication 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.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

Spreadym

JULY 10, 2023

The financial close process, also known as the accounting close process or month-end close, is a series of steps undertaken by an organization to finalize its financial records for a specific accounting period. These tools enhance collaboration, communication, and accountability among team members.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Reconciliations Accounts Payable General Ledger 52

Future CFO

AUGUST 22, 2019

IFRS 16, published by the International Accounting Standards Board (IABS), came into effect on January 1, 2019. Most organizations operating in Asia Pacific are aware of this new standard but may not be aware of a better way to make the transition.

IFRS 52

IFRS Accounting Standards Finance Treasury 52

The Charity CFO

AUGUST 15, 2023

It’s the accountant’s job to properly manage grant funds and ensure that they are meeting the grant guidelines and creating the proper reports. In some cases, they’ll also be responsible for communicating with grantors. Accountants typically work closely with external auditors during the annual audit process.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.),

Accounting 52

Accounting Finance Auditing IFRS 52

Future CFO

NOVEMBER 18, 2019

With new accounting standards, including, but not limited to, revenue accounting and lease accounting, organizations will need to integrate new application software with enterprise resource planning (ERP) to manage the complexities.

CFO 52

CFO Finance Reconciliations Accounting Standards 52

Spreadym

JUNE 27, 2023

Investor Relations and Stakeholder Communication: Financial Planning and Analysis supports effective communication with investors, shareholders, and other stakeholders. FP&A reports and presentations communicate the organization's financial performance, growth strategies, and value creation initiatives.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Planning Financial Analysis Budgeting 52

The Charity CFO

DECEMBER 15, 2023

Like restricted and unrestricted funds, keeping grant and sponsorship money can save you headaches at tax time (and when communicating with donors ). A strong in-kind donation recording system will help you stay in compliance with accounting standards for in-kind contributions. Need Help Recording Revenue?

Nonprofit 52

Nonprofit Compliance Valuation CFO 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. Accounting for grants should be approached with an abundance of caution.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

CFO Talks

APRIL 11, 2022

The one thing that’s always constant in our world is change, things are changing all the time, whether it is accounting standards, tax, I think the big one that’s front and centre is technology, automation, AI, robotics and so on. I think that’s got to be part of every accounting professional’s toolbox.

CFO 40

CFO Leadership Communication Accounting 40

CFO Talks

FEBRUARY 21, 2022

Particularly in this profession, things change quickly, accounting standards change quickly, and one needs to keep up with that. In my discussions with CFOs it’s things like communication, strategy, team management, motivation, how do you keep your team motivated. I agree 100%.

CFO 40

CFO Accounting Accounting Standards Retail 40

CFA Institute

MAY 19, 2021

A key lesson from the "Enron of Germany": If you see something, say something.

Performance Measuring 52

Performance Measuring Accounting Standards Communication Leadership 52

Future CFO

FEBRUARY 10, 2025

Leverage External Frameworks and Standards Adopt Recognised Reporting Standards: Implement existing frameworks such as the Global Reporting Initiative (GRI), Sustainability Accounting Standards Board (SASB), or the Task Force onClimate-related Financial Disclosures (TCFD) tostructure ESG reporting.

Investments 52

Investments Education Accounting Standards Communication 52

CFO Talks

JANUARY 27, 2025

Stakeholder Engagement: Effectively communicating ESG efforts to investors, regulators, and other stakeholders is crucial for building trust and securing support. So, we certainly monitor what happens with the IFRS Foundation, both boards, so the Accounting Standards Board and the Sustainability Standards Board.

CFO 52

CFO Auditing IFRS Accounting 52

PYMNTS

SEPTEMBER 27, 2017

Justin Lavelle, communications director of BeenVerified.com and a frequent writer on how to avoid scams, noted that even back in 2005 (practically the dark ages when it comes to the internet), while the U.S. Experts weigh in. Perhaps unsurprisingly, many of them gave overlapping advice. Watch out for fake websites and social media pages.

Securities 52

Securities Accounting Standards Communication Numbers 52