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Are Your Compliance Processes Keeping Up with Evolving Audit Requirements?

Bramasol

Discover how SAP solutions lay a solid foundation for audits and next level PCAOB or AICPA compliance reviews. While passing each audit is a critically important milestone, companies also should understand that it is only one aspect of ensuring their financial transparency and integrity.

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Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. The changes to in kind donation reporting are specifically for organizations that follow generally accepted accounting principles (GAAP) in preparing their financial statements.

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How Do I Forecast with Tax Code 280E?

CFO Share

The difference between cost of goods sold and ordinary business expenses is well defined in Generally Accepted Accounting Principles (GAAP) but routinely ignored by small business bookkeeping services. Even worse, an IRS income tax return does not follow the same rules as GAAP. Other distribution expenses, such as rent.

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Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

Accrual accounting is required by Generally Accepted Accounting Principles (GAAP), which means that you’ll need accrual-based reports to complete a nonprofit audit. Accrual accounting is the preferred method for any organization that needs to be audited or anticipates significant growth. Examples of nonprofit expenses: Rent.

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Accounting for In-Kind Donations to Nonprofits

The Charity CFO

Prepare financial statements per Generally Accepted Accounting Principles (GAAP). Submit to an annual audit. For the purposes of GAAP, donations of goods and services are valid revenue. Step #1: Establish Fair Market Value . How to calculate fair market value for in-kind goods: .

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Designing Effective Financial Information Systems: A Guide for South African CFOs 

CFO Talks

The South African market offers a range of solutions, from cloud-based platforms that offer flexibility and scalability to on-premises systems that provide greater control and customization. Implementing robust security measures, such as encryption, access controls, and regular audits, is essential to protect sensitive financial information.

IFRS 98
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IFRS 17 cost estimated at US$15B to US$20B for insurers

Future CFO

Only 52% of survey respondents believe that IFRS 17 earnings / equity will be slightly or much more helpful than current GAAP earnings / equity, and 54% believe that the need for non-GAAP reporting will either slightly or significantly increase.

IFRS 52