Spreadym

AUGUST 10, 2023

When choosing the best financial reporting software solution, it's important to consider factors such as ease of use, scalability, integration with existing systems, compliance with accounting standards, cost, customer support, and any unique requirements your organization might have.

Financial Reporting 52

Financial Reporting Financial Planning and Analysis (FP&A) Accounting Standards CFO 52

The Charity CFO

APRIL 5, 2023

In order to confidently run your organization, it’s important to have a strong understanding of nonprofit compliance requirements. In addition to the many struggles of running a business, nonprofits have additional hurdles to overcome as it relates to their mission, employment strategy, accounting, and compliance.

Nonprofit 52

Nonprofit Compliance Auditing Accounting 52

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!

Nonprofit 98

Nonprofit Accounting Accounting Standards Budgeting 98

The Charity CFO

JANUARY 15, 2025

Learn more about compliance requirements for nonprofits here. Anderson added that finance teams need to be flexible and work within the rules to accommodate donor intentions, rather than rigidly adhering to accounting standards at the expense of donor relationships. Do You Struggle to Make Sense of Your Financial Statements?

Nonprofit 52

Nonprofit Finance Budgeting Leadership 52

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. More details on climate issues below.)

Technology 88

Technology IFRS SAP Compliance 88

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.

Accounting 75

Accounting Accounting Standards Economics Advertising 75

Future CFO

NOVEMBER 2, 2020

China is the most complex jurisdiction for financial compliance in Asia Pacific while Hong Kong is the easiest, said TMF Group recently. For example, 70% of jurisdictions in South America mandate electronic transaction reporting, yet this is only the case for two jurisdictions in APAC (15%) – India and South Korea.

Compliance 40

Compliance IFRS GAAP Accounting Principles 40

Bramasol

MARCH 24, 2022

This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? A subsequent blog post specifically addressed How Can Carbon Accounting Impact the Value of M&A Deals? and also identified as one the Five Key Trends to Watch in 2022.

Accounting 75

Accounting SAP Analyzing Data IFRS 75

Future CFO

APRIL 18, 2022

Click on the link to download to discover in detail a list of the benefits that IBM Cognos Controller provide for finance teams: Data collection and validation Reconciliations Workflow and tasks to improve the close cycle Currency conversion Minority interest calculations Inter-company eliminations Group closing adjustments Management adjustments Allocations (..)

Finance 52

Finance IFRS GAAP Accounting Principles 52

CFO Leadership

OCTOBER 10, 2023

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

Accounting 95

Accounting Finance Auditing IFRS 95

Bramasol

SEPTEMBER 8, 2024

It marks a substantial leap forward that is built on earlier revenue management systems, such as SAP Revenue Accounting and Reporting (RAR) and SAP Automated Revenue Management (ARM). Increased Accuracy : By automating calculations and providing advanced reporting tools, it improves the accuracy and reliability of revenue recognition.

SAP 58

SAP General Ledger Compliance Accounting Standards 58

Beacon CFO Plus

NOVEMBER 30, 2023

Define Roles and Responsibilities: The CFO typically focuses on financial strategy, planning, and management, while the accounting firm handles compliance, audits, and financial reporting. The CFO should work closely with the accounting firm to provide the necessary information for audits and reporting.

Accounting Firms 52

Accounting Firms CFO Accounting Prioritization 52

The Charity CFO

APRIL 13, 2023

In order to successfully manage the financial health of your nonprofit organization, here are 7 key concepts you should understand: Compliance and Audit Requirements Compliance is the act of ensuring the public that nonprofits are abiding by the rules that allow them to take advantage of tax exempt status and other financial incentives.

Nonprofit 52

Nonprofit Accounting Standards Compliance Budgeting 52

The Charity CFO

OCTOBER 9, 2024

Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. Accurate and transparent financial data makes it easier for stakeholders and regulators to understand an organization’s financial health. Let’s consider an example.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

E78 Partners

SEPTEMBER 21, 2023

Audits, while essential for maintaining the integrity and trustworthiness of an organization’s financial reporting, can be a daunting task. 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.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 52

Fpanda Club

SEPTEMBER 2, 2021

FP&A vs financial controlling Working closely with accounting function, financial controllers ensure compliance of reported results with accounting standards, legislation and regulations, develop and document policies and procedures of the internal control in the organization, participate in financial reporting, budgeting and forecasting.

Financial Planning and Analysis (FP&A) 130

Financial Planning and Analysis (FP&A) Corporate Finance Communication Forecasting 130

Future CFO

SEPTEMBER 24, 2023

While traditional financial tasks like managing books and records, financial reporting, and ensuring compliance are still important, they have become second nature to CEOs,” Modani said. “Over the past few decades, the role of the CFO has undergone a remarkable transformation.

CFO 52

CFO Accounting Standards Manufacturing Compliance 52

PYMNTS

JANUARY 30, 2020

New lease accounting standards are in effect for publicly traded companies in the U.S. after the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) introduced changes to the way businesses account for their outstanding leases.

Accounting 40

Accounting Accounting Standards Compliance Securities 40

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.

Finance 88

Finance Strategic Planning Auditing CFO 88

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. Do You Struggle to Make Sense of Your Financial Statements?

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. Develop strong financial reporting procedures.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

Spreadym

JUNE 13, 2023

By using the chart of accounts, organizations can ensure that financial information is recorded in a logical and structured manner, facilitating efficient bookkeeping, financial analysis, and compliance with accounting standards and regulations. Here are some key practices.

Accounting 52

Accounting Financial Analysis Compliance Financial Reporting 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. Whether you trust your financial prowess or not, your nonprofit can benefit from a trusted accountant with nonprofit experience.

Nonprofit 52

Nonprofit Auditing Compliance Education 52

The Charity CFO

AUGUST 15, 2023

Compliance Like traditional accounting positions, nonprofit accountants have to ensure compliance with tax laws and regulations. Accountants typically work closely with external auditors during the annual audit process. This ensures all of the financial statements are accurate and meet accounting standards.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Finance Weekly

OCTOBER 31, 2021

Many of the same financial issues that profit-seeking enterprises face, such as increasing revenue, managing audits, and dealing with compliance, encounter non-profit organizations (NPOs). At the very least, you must have transparent financial reporting. 4 Steps NPOs can do to improve their financial planning.

Planning 52

Planning Auditing Nonprofit Accounts Payable 52

CFO Leadership

OCTOBER 18, 2023

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

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. The financial close process is crucial for ensuring accurate and reliable financial reporting.

Financial Planning and Analysis (FP&A) 52

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

Planful

JUNE 3, 2021

Investing in innovative technology, such as a cloud-based planning and consolidation platform, gives your finance teams the support they need for financials. Eliminate manual tasks, overcome information silos, and ensure compliance while creating these statements, even as the company scales. Transform the Finance Consolidation Process.

Compliance 40

Compliance Reconciliations Currencies Finance 40

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. When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help. Get the free guide!

Nonprofit 52

Nonprofit Communication Auditing GAAP 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.

Financial Planning and Analysis (FP&A) 52

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

Spreadym

JUNE 27, 2023

This includes analyzing revenue and expense trends, profitability, cost drivers, key performance indicators (KPIs), and financial ratios. Compliance and Regulation: Financial Planning and Analysis ensures compliance with financial regulations, accounting standards, and reporting requirements.

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

CFO Talks

DECEMBER 26, 2021

We expect the same will happen locally, there are a lot of listed companies in South Africa getting loans and credit from the PIC and soon the PIC will also start requiring these types of reports. I think very quickly you’re going to get compliance on this. You’ve mentioned the PIC.

CFO 40

CFO Profit and Loss Finance Accounting 40

CFO Talks

OCTOBER 1, 2024

The conversation about the underinvestment in intangible assets in South Africa, and the challenges of accounting for these assets (due to subjective accounting treatments), directly impacts how CFOs approach financial reporting. Why is this important for CFOs? IFRS, US GAAP).

Leverage 52

Leverage Investments Economics Accounting 52

CFO Talks

MARCH 12, 2025

Stay on Top of Regulatory & Compliance Changes Keeping up with regulatory and compliance changes is crucial in finance. Following updates from CIBA and regulatory authorities helps professionals understand changes in financial laws, tax rules, and accounting standards.

Finance 52

Finance IFRS Compliance Financial Modeling 52