The Charity CFO

MAY 6, 2022

Those numbers may be skewed by some outliers, like education, but, regardless, there is still a lot of federal money up for grabs. The UCG is too extensive to explain here, but these are a few requirements you should consider: You must have an accounting system in place. Do I need an audit to secure federal grant funds?

Nonprofit 119

Nonprofit Auditing Financial Systems CFO 119

Future CFO

JUNE 24, 2024

The budget and forecast should reflect the Company’s plans, visions, expectations and educated guesses on the market trends. Yes, in the sense that there are a lot of analyses that can now be handled by Gen AI and No, because it transforms accountants from number crunchers to strategic advisors.

Auditing 111

Auditing Financial Analysis Forecasting Reconciliations 111

The Charity CFO

NOVEMBER 30, 2023

Does the idea of an audit from the IRS leave you with sweaty palms? Most nonprofit leaders aren’t accountants and the thought of getting audited is a sizable fear. Luckily, being prepared can help you avoid accounting mistakes that could come up in a nonprofit audit.

Nonprofit 52

Nonprofit Auditing Compliance Education 52

Future CFO

JULY 8, 2024

Editor’s note: Audit is much more than a compliance requirement and is definitely not a declining industry, said Narissa Chen (pictured), Partner, Head of Audit & Assurance, Forvis Mazars in Singapore. She shared with FutureCFO what a career in audit offers and how female professionals can become audit leaders.

Auditing 52

Auditing Leadership Compliance Communication 52

CFO Share

JULY 16, 2024

A controller primarily oversees accounting processes, ensuring accurate financial records and compliance with regulations. Education and Experience Controllers typically have an accounting degree supplemented with an optional CPA or CMA and 10+ years of experience in managerial accounting.

Financial Planning and Analysis (FP&A) 98

Financial Planning and Analysis (FP&A) CFO General Ledger Compliance 98

Future CFO

SEPTEMBER 14, 2020

The Enron scandal, one of the largest accounting frauds seen over the last three decades, led the company to file for bankruptcy in 2001. One way in which auditor independence can be compromised is when auditors simultaneously provide audit and non-audit services (NAS) to clients, and as a result become more beholden to these clients.

Auditing 52

Auditing Accounting Valuation Education 52

The Charity CFO

MAY 18, 2022

But when public funds are at risk (in the form of donations and grants ) an accountability system must be employed to ensure funds are used appropriately. The board of directors is the core element of this accountability system. If your nonprofit requires an audit, the board should engage directly with the audit firm.

Nonprofit 105

Nonprofit Auditing Compliance Budgeting 105

CFO Talks

JANUARY 22, 2025

With over two decades of professional experience spanning finance, accounting, and leadership, Henk’s journey began in high school, where his passion for numbers was ignited by managing his own small business and assisting with his fathers bookkeeping. Since high school I have loved accounting and mathematics.

CFO 52

CFO Leadership Manufacturing Auditing 52

CFO Talks

OCTOBER 3, 2024

Aggressive Accounting Practices : Look out for unusual accounting entries, round-number transactions, or complex journal entries that lack clear justification. Common Payroll Fraud Tactics: Fictitious or Ghost Employees : Employees create fake personnel records to channel wages into their own accounts.

Invoicing 98

Invoicing Auditing Benchmarking Reconciliations 98

CFO Talks

FEBRUARY 10, 2023

Stiles CFO Lili Grobler on what her auditing degree didn’t teach her Lili Grobler is the CFO of Stiles since 2016, a growing business based in George. In a corporate auditing firm, theoretically you only apply legislation and it’s like a ticking exercise, you did this, you didn’t do that. Fortunately, I love reading,” says Grobler. “If

Auditing 52

Auditing CFO Communication Treasury 52

The Charity CFO

DECEMBER 8, 2022

But in order to get the most out of these grants, you need to understand how to properly manage and account for them. The IRS has strict regulations on how to handle grants and charitable contributions, so it is essential that you understand the best practices when accounting for them. 8 Best Practices When Accounting For Grants.

Accounting 52

Accounting Nonprofit Auditing Compliance 52

CFO Talks

OCTOBER 28, 2024

I passed my first year Accountancy in 1971 as an extra subject for my BSc. As an investor, since 1969, I had to work through audited financial statements. I supervised more than 200 M research students and 18 doctoral candidates to completion, some in banking and in accounting. Understanding basic financial accounting.

CFO 52

CFO Auditing Leadership Finance 52

Bramasol

OCTOBER 2, 2024

The Importance of Education: Education is a fundamental human right and a key driver in economic development. Prioritizing education and skills development is necessary to remain resilient in a rapidly changing world and help bridge the digital divide in under-resourced communities.

SAP 83

SAP Prioritization Education Compliance 83

PYMNTS

MAY 16, 2018

SOC 2 was developed by the American Institute of Certified Public Accountants (also known as AICPA) and exists as an auditing process aimed at ensuring that service providers maintain and manage customer data in a safe manner. A SOC 2 Type II review will include the testing of these controls.

Auditing 46

Auditing Healthcare Securities Education 46

Boston Startup CFO

APRIL 3, 2023

Financial accounting: A topic that can easily disorient even the most driven entrepreneurs. As a trailblazer exploring unknown territories, you must equip yourself with the appropriate knowledge and tools to make educated decisions that guide your enterprise towards success.

Accounting 52

Accounting Accounting Principles GAAP Startups 52

The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. Benefits of Nonprofit Accounting Services. Saves time and money.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

CFO Talks

NOVEMBER 11, 2024

Also honored with Standard Bank Eswatini’s BLUE SHEroes Award and recognized by the Eswatini Institute of Accountants. Then I was introduced to accounts in high school, and I just loved the challenge of balancing the balance sheet and cash flows. That just blew me away, it will forever be a pivotal moment in my life.

CFO 52

CFO Leadership Problem Solving Communication 52

The Charity CFO

MARCH 24, 2022

The education first department reported Inconsistencies to the USDA in 2020. And in early 2021, the department labeled Feeding Our Future “seriously defective” due to incomplete financial audits and lapsed IRS nonprofit registration. How was this fraud uncovered? Now, the BIG question— how did this happen ? .

Nonprofit 98

Nonprofit Profit and Loss Auditing Leadership 98

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.

Accounting Standards 98

Accounting Standards Economics IFRS Auditing 98

CFO Leadership

OCTOBER 18, 2023

This makes them versatile tools in various fields such as education, customer service, and even creative writing. 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.

Accounting 52

Accounting Finance Auditing IFRS 52

The Charity CFO

APRIL 19, 2022

In our experience, nonprofits with little in reserve and/or low cash balances tend to have financial management challenges, often including: Poor collection of accounts or pledges receivable. Has the Department of Labor audited your organization for misclassifying contractors as employees? Red Flag #5: No Accountant or Bookkeeper.

Nonprofit 98

Nonprofit Compliance Auditing Accounting 98

CFO Share

JULY 19, 2023

The biggest challenges facing accounts payable are chaos, maintenance cost, and fraud. Bring order to Accounts Payable. An AP digital transformation centralizes all bill receipts into one inbox, eliminates paper and associated data “blackholes,” and maintains clear audit records of all activity.

Accounts Payable 52

Accounts Payable Accounting Auditing Invoicing 52

The Charity CFO

APRIL 25, 2024

For nonprofit organizations, accounting comes with a lot of complexity. Instead of slow, paper-driven, backward-looking accounting, these organizations are moving quickly through digital integrations allowing them to focus on their core responsibilities. What is the actual goal in a nonprofit accounting setup?

Nonprofit 52

Nonprofit Accounting CFO Auditing 52

The Charity CFO

APRIL 2, 2024

Managing a nonprofit can be complex, especially when it comes to nonprofit accounting. Finding the right accounting partner for your nonprofit is essential to the financial success of your nonprofit organization. That’s why you need a strong accounting partner who specializes in nonprofits.

Nonprofit 52

Nonprofit Accounting Accounting Firms Communication 52

CFO Leadership

AUGUST 12, 2021

This initiative brings together members from historically underrepresented groups to discuss issues that are important to them along with educational and networking opportunities. Kim Ngyuen came to the US from Vietnam to further her education and obtained her MBA with a concentration in Accounting at Albertus Magnus College.

Leadership 98

Leadership CFO Financial Planning and Analysis (FP&A) Finance 98

PYMNTS

JANUARY 10, 2019

Now, analysts at the International Federation of Accountants (IFAC) are urging ERM to move beyond the c-suite. Professional accountants are well-positioned to better serve the organizations they work for by enabling effective enterprise risk management that identifies both risks and opportunities for the business,” the CEO noted.

Finance 74

Finance Risk Management Auditing Accounting Standards 74

The Charity CFO

SEPTEMBER 14, 2022

It’s true that due to their uniquely valuable societal contributions, such as charitable actions or educational priorities, nonprofits receive tax exemption for income from activities substantially related to their primary purpose. . Don't hire the wrong accountant for your nonprofit! But what if I told you that’s not always true?

Nonprofit 98

Nonprofit Profit and Loss Education CFO 98

Planful

SEPTEMBER 1, 2016

In early August, I was asked to speak at the annual meeting of the American Accounting Association (AAA). The AAA has been around for 100 years and is a community of accounting educators. Hip, Cool, and Relevant Accounting Technologies. His main message was that ERPs are no longer the center of the accounting universe.

Technology 40

Technology Accounting Auditing Reconciliations 40

CFO Share

MAY 31, 2023

Accounts payable is an annoyance at best, a disaster at worst. More and more businesses use accounts payable outsourcing as a solution to this problem. What to look for in an accounts payable company. Fraud risk is addressed through two best practices: Implement proper controls, segregation of duties, and process audits.

Accounts Payable 40

Accounts Payable Accounting Auditing Invoicing 40

PYMNTS

NOVEMBER 20, 2020

For Andy Brown , CFO at education technology company Chegg , there was a plethora of opportunities to embrace by collaborating with third-party FinTech partners. Payables and accounting operations overall — "the machinery of paying and getting paid," as Brown explained — topped the list.

CFO 87

CFO Education Auditing Communication 87

CFO News Room

DECEMBER 16, 2022

They may work in various industries, such as investment firms, accounting firms, banks, or the government. Chief compliance officers often have a degree in finance, law, accounting, or business administration. They must also help customers understand their coverage, file claims, and manage their accounts. Senior Accountants.

Finance 130

Finance Budgeting Financial Analyst Compliance 130

CFO News Room

JANUARY 19, 2023

They also offer educational resources to help users learn the basics of investing. The primary source of revenue for Robinhood is the interest they earn on customer funds held in Robinhood accounts. What kind of security measures does Robinhood have in place to protect my account? How Does Robinhood Make Money?

Profit and Loss 130

Profit and Loss Securities Nonprofit Investments 130

CFO Share

MARCH 2, 2023

Accounts payable is the most common source of fraud in a small business. Both internal accountants and external hackers target weak AP processes to steal money since it is the business process most vulnerable to fraud. What are some of the common fraud attempts in accounts payable?

Invoicing 52

Invoicing Accounts Payable Auditing Education 52

CFO News Room

DECEMBER 30, 2022

Why it is important for advisory firms to conduct an audit of their tech stack and the steps they can take to conduct the exercise. How advisors are increasingly purchasing individual bonds rather than bond funds in client accounts. will affect surviving spouses who inherit retirement accounts from a deceased spouse.

Planning 130

Planning Auditing Investments Securities 130

PYMNTS

AUGUST 5, 2016

There is seemingly no end to the discussion of how automated accounting can improve a business’ performance. The market is on the cusp of a groundswell of adoption of these technologies, says Therese Tucker, CEO of accounting solutions firm BlackLine , after a long lull among mid-market firms.

Accounting 42

Accounting Reconciliations General Ledger Auditing 42

CFO Share

JUNE 27, 2024

How can a small business ensure compliance in reporting without overspending on accounting staff and audits? In general, financial statement compliance involves adhering to established standards and regulations, such as Generally Accepted Accounting Principles (GAAP) and the Financial Accounting Standards Board (FASB) guidelines.

Financial Reporting 52

Financial Reporting Compliance CFO Auditing 52

The Charity CFO

JULY 10, 2022

They also educate the rest of the board on their duties and responsibilities to the organization. . Meanwhile, audits, financial management, and risk mitigation fall under the purview of the Finance or Risk Management Committee. Don't hire the wrong accountant for your nonprofit! 3: External Affairs. Get the free guide!

Nonprofit 97

Nonprofit Auditing Communication Risk Management 97