Boston Startup CFO

APRIL 3, 2023

Familiarity with Generally Accepted Accounting Principles (GAAP) is essential. Additionally, you open yourself up to compliance and audit issues, and you’ll potentially decrease your chances of securing funding and financing.

Accounting 52

Accounting Accounting Principles GAAP Startups 52

The CFO College

JUNE 3, 2021

Acquiring these advanced types of services, like setting up a permanent audit trail, rolling cash forecast, month-end reporting, and strategic planning, is the secret sauce your potential client needs to know how their money flows in and out of their company (and what their financial future will look like). Know Your Clients Wants and Needs.

Accounting 52

Accounting CFO Auditing General Ledger 52

CFO Leadership

OCTOBER 18, 2023

Using these AI tools in their current state in sensitive areas like finance and accounting raises security concerns. AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis.

Accounting 52

Accounting Finance Auditing IFRS 52

Planful

JANUARY 19, 2016

Consolidating the financial results following US GAAP or IFRS guidelines, including these steps: Performing currency conversions. Ensuring adequate audit trails for internal and external auditors. They’ll conclude that there’s a total lack of security, control, and audit trails when using spreadsheets.

IFRS 40

IFRS Reconciliations GAAP Auditing 40

Planful

JULY 27, 2016

Lack of security sending budgeting spreadsheets via email. Not being compliant with US GAAP or IFRS. Lack of controls and audit trails. Lack of security. Time-consuming and costly audit process. Better security. Improve audit trails, reduce audit costs. Reduced reliance on IT.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Planning Value-Added Analysis Budgeting 40

Cube Software

MAY 11, 2023

Pro forma financial statements and GAAP It's important to note that, since pro forma statements are based on hypothetical or projected data, they are not compliant with generally accepted accounting principles—GAAP statements must be based on actual financial results. Pro forma statements are also used to secure financing.

GAAP 40

GAAP Financial Planning and Analysis (FP&A) Profit and Loss Accounting Principles 40

Planful

JUNE 22, 2017

GAAP or International Financial Reporting Standards (IFRS). Undetected errors can occur and spreadsheets don’t provide adequate audit trails regarding changes to financial results in the process. Here are the key accounting consolidation steps in the finance consolidation process : Collecting trial balance data (e.g.,

Accounting 40

Accounting General Ledger IFRS GAAP 40

The Charity CFO

MAY 11, 2023

Security Concerns The financial data of an organization is incredibly sensitive. Ensure that your provider has proper security measures in place and ask to see these in action before proceeding. This can be especially helpful if you don’t have a dedicated staff-person with the expertise level required.

Nonprofit 52

Nonprofit Communication Auditing Accounting 52

Spreadym

AUGUST 10, 2023

Compliance: Adherence to accounting standards and regulations, such as Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Audit Trail: A record of changes made to financial data and reports, ensuring transparency and accountability.

Financial Reporting 52

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

Cube Software

MAY 10, 2023

Besides the wasted time involved in chasing down and correcting incorrect revenue recognition, it creates issues with meeting the Generally Accepted Accounting Principles (GAAP) standard for financial reporting. If an issue arises with unearned revenue, it’s important to research and rectify the reports.

GAAP 40

GAAP Profit and Loss Accounting Principles Financial Data 40

BlueLight

JULY 30, 2020

Security and Audit ?—?NetSuite NetSuite role-based permission can be very granular and includes audit trails illustrating who made field level changes including before and after data element changes. GAAP Revenue Recognition Rules Effective December 2018, FASB changed the guidelines to recognizing revenue under ASC 606.

CFO 52

CFO Financial Planning and Analysis (FP&A) Strategic Planning Startups 52

CFO Talks

OCTOBER 1, 2024

IFRS, US GAAP). Is there a significant difference between US GAAP and IFRS , or are we just being a bit too conservative here in South Africa? Is it easier for South Africans to register patents and trademarks abroad rather than securing them locally. I would love to hear your thoughts on this.

Leverage 52

Leverage Investments Economics Accounting 52

Onplan

NOVEMBER 30, 2022

It offers straightforward, logic-driven modeling and forecasting solutions that enable secure and flexible planning and scenario testing within a secure environment. Size constraints that can impact usability and even security. Automated reporting also enforces compliance with GAAP and IFRS standards.

Financial Planning and Analysis (FP&A) 52

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