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. What is financial reporting software?

Financial Reporting 52

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

The Charity CFO

OCTOBER 9, 2024

Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. This makes it difficult to maintain the integrity of both donor and financial records when attempting to sync the two systems. For nonprofits, GAAP ensures transparency, accuracy, and consistency in financial statements.

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

CFO Talks

SEPTEMBER 5, 2024

Whether it’s streamlining financial reporting, enhancing data accuracy, or ensuring compliance with South African regulatory standards, clearly defining these objectives will guide the entire design process. Choosing the Right Software and Technology Selecting the appropriate financial software is a critical decision.

IFRS 92

IFRS GAAP Compliance Reconciliations 92

E78 Partners

NOVEMBER 12, 2024

Take a critical look at areas prone to audit issues—such as revenue recognition, procurement, impairment, and financial reporting—ensuring that controls in these high-risk areas meet compliance standards.

Auditing 59

Auditing Financial Planning and Analysis (FP&A) GAAP Compliance 59

Bramasol

JULY 26, 2024

In this episode, we dive into five issues that are at the heart of optimizing Quote-to-Cash to Compliance with SAP Revenue Recognition and subscription management applications, including complex bundling scenarios. Closing and Reporting: How can we shorten our periodic closing cycles while assuring reporting and disclosure compliance?

SAP 71

SAP IFRS GAAP Compliance 71

Planful

SEPTEMBER 5, 2019

Periodic financial reporting is a great example. Most organizations put a great deal of manual effort into their periodic reporting. Our customers love to tell us how many inefficiencies they had in their reporting process before they started using the Planful Platform for financial reporting.

Financial Reporting 40

Financial Reporting IFRS GAAP Auditing 40

The Charity CFO

JANUARY 17, 2022

Your core financial reports, which we’ll look at below, exist to answer this one simple question– how much value has your organization created ? It shows as a liability on your financial reports, so it reduces your net assets. It’s easier for simple tax filings and less susceptible to financial misconduct.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

JANUARY 19, 2023

In the United States, these Generally Accepted Accounting Principles (or GAAP) are set by the Financial Accounting Standards Board (FASB). First, nonprofits must follow GAAP, the Generally Accepted Accounting Principles. 117 (FASB 117). Help protect against fraud, embezzlement, and mismanagement of assets and resources.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

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

The Charity CFO

FEBRUARY 4, 2022

Nonprofit bookkeeping is the process of entering, classifying, and organizing financial data for the purpose of creating accurate financial records for your organization. They organize the data and ensure accuracy so the accountant can create reliable and timely financial reports.

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

The Charity CFO

JANUARY 11, 2023

Revenue recognition for nonprofits may seem fairly straightforward, but has unique complexities with important compliance consequences. All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. Undergo annual financial audits. Receive grants.

Nonprofit 52

Nonprofit GAAP Accounting Principles Auditing 52

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

E78 Partners

NOVEMBER 12, 2024

Take a critical look at areas prone to audit issues—such as revenue recognition, procurement, impairment, and financial reporting—ensuring that controls in these high-risk areas meet compliance standards.

Auditing 52

Auditing Financial Planning and Analysis (FP&A) GAAP Compliance 52

E78 Partners

NOVEMBER 12, 2024

Take a critical look at areas prone to audit issues—such as revenue recognition, procurement, impairment, and financial reporting—ensuring that controls in these high-risk areas meet compliance standards.

Auditing 52

Auditing Financial Planning and Analysis (FP&A) GAAP Compliance 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

The Charity CFO

JANUARY 5, 2023

Poor financial reporting. Tax issues and non-compliance with regulatory requirements. Well, the answer lies in understanding and implementing these 7 essentials of nonprofit financial management. They provide a framework for the oversight and governance of financial operations and activities. Bring GAAP compliance.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 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. Furthermore, in an era of intricate financial landscapes, preparing for compliance with complex accounting standards becomes non-negotiable.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 52

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

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 Compliance Accounting Standards Budgeting 52

The Charity CFO

JULY 12, 2024

Improved Financial Transparency Accrual accounting provides stakeholders with a detailed view of your organization’s financial activities, improving trust and confidence. Transparent financial reporting can also improve donor relations. Many regulatory bodies and grantors require accrual-basis financial statements.

Nonprofit 52

Nonprofit Accounting Budgeting GAAP 52

Centage

NOVEMBER 22, 2023

These may include having multiple business units or entities, operating in different locations or jurisdictions, offering a broad range of products or services, organizing operations into cost centers, or adhering to legal and regulatory compliance. The 25 P&Ls and the consolidated version are done within just a few minutes.”

Profit and Loss 52

Profit and Loss Budgeting GAAP Financial Reporting 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. Outsourcing financial record-keeping also improves efficiency, eliminates unnecessary expenses, and minimizes grave accounting mistakes. Improves compliance.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

Centage

NOVEMBER 22, 2021

For those dedicated finance professionals working in the nonprofit sector, the myriad of unique industry challenges from managing multiple stakeholders and funding sources, to understanding compliance standards and creating financial processes, add another layer of complexity to the process. It’s all automated and GAAP compliant.

Financial Planning and Analysis (FP&A) 72

Financial Planning and Analysis (FP&A) Nonprofit Planning Finance 72

The Charity CFO

AUGUST 15, 2023

Myth #3: Nonprofit Accounting (GAAP) and the IRS Rules are the Same Another common misconception is that GAAP and IRS rules are the same when it comes to nonprofits, however, they are not. Compliance Like traditional accounting positions, nonprofit accountants have to ensure compliance with tax laws and regulations.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

JULY 19, 2024

They also help nonprofit leaders maintain compliance with legal standards and tax regulations. Learn more about our nonprofit financial services by contacting us today ! Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

CFO 52

CFO Accounting Nonprofit General Ledger 52

Planful

AUGUST 1, 2017

According to a 2014 study by APQC benchmarking the financial close process, the bottom performers took 12 days or more to close and report their results to management. Then there’s additional time spent on external financial reporting and filings. Multi-GAAP reporting (i.e., Regulatory reporting and filings.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

Centage

NOVEMBER 8, 2023

Building and maintaining an effective budget is daunting no matter what industry you’re in — but financial planning for nonprofits is especially tough. The best financial management software is totally automated and GAAP-compliant, and gets rid of the pain from errors cased by linking complex formulas and macros across spreadsheets.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Nonprofit Budgeting GAAP 52

Boston Startup CFO

OCTOBER 13, 2015

The auditors uncovered a horrific mistake that the previous accountant didn’t catch: We were accounting for our revenue completely wrong (non-GAAP) and we had to re-state our financials, something you never want to do in your business. Look at Groupon!). Two years, 60 employees and $8.6

CFO 52

CFO Tax Planning GAAP Budgeting 52

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

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

Strategic Treasurer

MARCH 6, 2023

You can have on your financial statements, we’ve got $5 million dollars in cash, well, that might be true, it might not be even you may have great cash needs in one place, and that you have to borrow on and other areas that you have excess liquidity so how do you manage that? So, it’s what is the cash I can use?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Treasury GAAP 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. IFRS, US GAAP). Why is this important for CFOs? I would love to hear your thoughts on this.

Leverage 52

Leverage Investments Economics Accounting 52

Onplan

NOVEMBER 30, 2022

Adaptive is one option companies use for modeling, budgeting, forecasting, and financial reporting. In addition to offering financial and sales planning solutions, Workday Adaptive also caters to workforce and operational planning needs. 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