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

The Charity CFO

OCTOBER 9, 2024

Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. This misalignment can make it challenging to add fundraising data into accounting systems without risking compliance or accuracy issues. Let’s consider an example.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

CFO Share

NOVEMBER 15, 2023

An audit evaluates: Compliance with accounting standards (GAAP or IFRS.) Risks of fraud or non-compliance. Auditors are good at finding issues, so even the best accounting teams find themselves working with auditors to improve their processes. The validity and accuracy of financial transactions and records.

Auditing 52

Auditing IFRS GAAP Invoicing 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. What About Borrowing?

Finance 88

Finance Strategic Planning Auditing CFO 88

The Charity CFO

MAY 11, 2023

As regulations surrounding nonprofits can be incredibly complex, expert guidance on financial matters, including compliance with tax laws and regulations, is key. Make sure that you find a partner in your service provider and ensure that your access and communication channels are clearly defined. There is no one size fits all solution.

Nonprofit 52

Nonprofit Communication Auditing Accounting 52

The Charity CFO

DECEMBER 15, 2023

Accurate revenue recognition, classification, and records are some of the most important aspects of nonprofit accounting. Not only does it help with transparency in your organization, but properly recording revenue keeps you in compliance with nonprofit regulations. For example, a local restaurant sponsors your annual fundraising gala.

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

The Charity CFO

AUGUST 15, 2023

Compliance Like traditional accounting positions, nonprofit accountants have to ensure compliance with tax laws and regulations. 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.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 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. Improves compliance.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 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. As AI permeates finance, questions about its compliance with audits and financial governance will arise.

Accounting 52

Accounting Finance Auditing IFRS 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

NOVEMBER 18, 2019

However, fundamental tasks in statutory accounts, management accounts, investments, budgeting, analysis, compliance, risk, payroll, audit, taxation and managing working capacity are very much interconnected.

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

CFO Talks

JANUARY 27, 2025

ESG is not just about compliance; it’s a framework for long-term business viability and resilience. As head of the ESG Working Group for the International CFO Alliance (ICFOA), David emphasized the importance of standardization and alignment across global frameworks.

CFO 52

CFO Auditing IFRS Accounting 52