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

Bramasol

JULY 22, 2023

The CSRD is intended to revamp and expand information that was already required to be reported since 2017 under the EU’s existing Non-Financial Reporting Directive (NFRD). The CSRD is part of the EU’s European Green Deal and the Sustainable Finance Agenda.

IFRS 82

IFRS Accounting SAP Compliance 82

CFO Talks

NOVEMBER 21, 2024

First and foremost is financial acumen—understanding financial reporting, budgeting, forecasting, and compliance is foundational. However, I believe that maintaining a balance is still essential for long-term productivity and well-being. To achieve this balance, I focus on prioritizing my tasks and setting clear boundaries.

CFO 98

CFO Leadership Problem Solving Communication 98

The Charity CFO

JANUARY 21, 2022

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. When you set up funds in your chart of accounts, they’ll show on your financial statements as well.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

The Finance Weekly

DECEMBER 1, 2024

This process isn’t just about catching mistakes; it’s also a critical tool for ensuring the integrity of your financial reporting. This creates an audit trail and ensures transparency. Step 7 - Report Findings Share your reconciliation results with relevant stakeholders and save the documentation for future reference.

Reconciliations 52

Reconciliations Accounting General Ledger Invoicing 52

The Charity CFO

MARCH 2, 2022

You used to audit nonprofit organizations back in the day, similar to me, but while I was the CFO of a nonprofit, you were my auditor. Um, so that we can ensure we get through audits and then just kind of balancing all of those things together. I don’t know if my financial reports are inaccurate. Why are they off?

Nonprofit 98

Nonprofit Auditing Reconciliations Accounting 98

CFO Talks

MARCH 14, 2024

The position of Chief Financial Officer has evolved significantly over the past few decades. No longer confined to the guardianship of financial reporting and compliance, modern CFOs are now pivotal strategists and advisors at the heart of corporate decision-making. Delegation and Empowerment: No CFO can do it all alone.

Prioritization 52

Prioritization CFO Leverage Risk Management 52

CFO Plans

MAY 2, 2024

Whether you need outsourced bookkeeping services or advanced financial reporting, your partner should be able to accommodate your needs without disruption. Take the time to explore your options, ask the right questions, and choose a partner that aligns with your vision for financial success.

Accounting 52

Accounting Problem Solving Communication Compliance 52

The Charity CFO

JULY 1, 2024

There’s a wide range of accounting services your organization might need, including: Bookkeeping Financial reporting Tax preparation Audit support These key services are vital to maintaining the financial health of your organization. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

Nonprofit 52

Nonprofit Accounting Budgeting Communication 52

CFO Leadership

OCTOBER 10, 2023

Future-forward finance and accounting organizations were quick to embrace robotic process automation (RPA) years ago to manage mundane, repetitive back-office tasks like data entry and routine financial reporting.

Financial Planning and Analysis (FP&A) 115

Financial Planning and Analysis (FP&A) Finance Compliance Forecasting 115

PYMNTS

JUNE 12, 2019

Azoulai continued, “Goodwill prioritizes sustainability over ownership, and we’re proud to bolster their rapidly growing eCommerce operations by making it easier for people to purchase items from across the country.”.

eCommerce 58

eCommerce Prioritization Auditing Sales 58

CFO Talks

DECEMBER 12, 2024

Being in the wellness industry for the past 9 years taught me a lot about prioritizing my physical, emotional and financial wellness – taking care of myself first to be in the optimum position to achieve my full potential as CFO consultant and serial entrepreneur. Leadership skills. Stress management skills.

Leadership 52

Leadership CFO Prioritization Education 52

Spreadym

SEPTEMBER 22, 2023

Poor Documentation: Failing to document financial processes, decisions, and discussions can create confusion and make it challenging to track and audit financial activities. Inadequate Reporting: Providing incomplete or inaccurate financial reports can mislead team members and decision-makers.

Communication 59

Communication Leadership Prioritization Financial Reporting 59

The Finance Weekly

JULY 19, 2022

FP&A teams are responsible for a variety of activities, including periodic financial close and consolidations, strategic and annual planning, monthly forecasting, cash flow forecasting, financial reporting, financial modeling, and what-if scenario planning and analysis. Strategic financial planning.

Financial Planning and Analysis (FP&A) 96

Financial Planning and Analysis (FP&A) Budgeting Forecasting Finance 96

The Charity CFO

OCTOBER 28, 2024

By prioritizing HR and working with experienced professionals, nonprofits can protect their organizations, support their employees, and focus on fulfilling their missions. Get our FREE GUIDE to nonprofit financial reports, featuring illustrations, annotations, and insights to help you better understand your organization's finances.

Nonprofit 59

Nonprofit Budgeting Compliance Prioritization 59

Michigan CFO

SEPTEMBER 29, 2021

However, if your CFO possesses deep manufacturing experience, then you can better prioritize investments that provide tangible business benefits. Additionally, CFOs can help oversee the implementation of accounting and reporting systems that help businesses gain deeper insights into their core metrics. Business Strategy Leadership.

Manufacturing 52

Manufacturing CFO Compliance Forecasting 52

The Charity CFO

JULY 31, 2023

They are responsible for understanding and upholding the policies, ensuring compliance among all stakeholders, and making decisions that prioritize the organization’s best interests. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

Nonprofit 52

Nonprofit Prioritization Compliance Accounting 52

The Charity CFO

AUGUST 15, 2023

One key differentiator is that what is recorded following GAAP is what will show up on the audit and may not show up on the IRS tax form, Federal Form 990. The IRS report only pays attention to tangible monetary value which means things like in-kind services or unrealized gains/losses on investments are excluded. Get the free guide!

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Finance Weekly

APRIL 27, 2022

If formal policies are not in place, first prioritize where to start (i.e., Quality Financial Reporting: Given their utmost criticality, financial closings have to be completed accurately and efficiently. You should also execute detailed reviews of the financial numbers, including variance analysis.

Leadership 52

Leadership Financial Planning and Analysis (FP&A) Communication Reconciliations 52

The Finance Weekly

AUGUST 7, 2024

Its key features include data import, consolidation, and validation, budget creation and formulas, a native Excel interface, a generative AI chatbot called FP&A Genius ; automated dashboards and reports , and custom dashboards with detailed drill-down and audit trails. Simplified auditing with a log of historical modifications.

Financial Planning and Analysis (FP&A) 52

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

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). Leana van der Merwe: That’s a great point, Daan.

Leverage 52

Leverage Investments Economics Accounting 52

CFO Talks

NOVEMBER 1, 2024

I also prioritize clear communication and collaboration, seeking input from colleagues or experts when needed. A key strategy that has helped me succeed is maintaining adaptability—being open to change and learning from setbacks. Financial Expertise: Mastery of financial reporting, budgeting, forecasting, and analysis is essential.

Prioritization 90

Prioritization CFO Leadership Communication 90