Compliance, GAAP and Nonprofit - Corporate Finance Brief

Compliance

GAAP

Nonprofit

When Does Your Nonprofit Need an Audit?

The Charity CFO

DECEMBER 30, 2021

Contrary to what many people envision, a nonprofit audit doesn’t usually start with a letter from the IRS. Instead, an independent nonprofit audit is something you choose to build trust in your nonprofit organization. An audit can be a critical step for a growing nonprofit that needs to raise increasing amounts of funds.

Nonprofit

Nonprofit Auditing GAAP Accounting Principles

The Dual Purposes of Accounting and Fundraising Software

The Charity CFO

OCTOBER 9, 2024

Modern nonprofit leaders are always looking for ways to use technology to make everyday tasks easier. Instead, accounting software prioritizes accuracy, standardization, and regulatory compliance. The Impact of GAAP on Integration Efforts We’ve mentioned GAAP several times, but why do these principles affect integration so much?

Accounting

Accounting GAAP Nonprofit Accounting Principles

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How to Comply with Accounting Standards for Nonprofits

The Charity CFO

JANUARY 19, 2023

Accounting standards for nonprofits are probably not the first thing you think about, but are crucial for your organization to succeed. Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission. Another difference is in fund accounting.

Accounting Standards

Accounting Standards Nonprofit Accounting GAAP

Webinars

How To Optimize Cash Flow: Your Roadmap To Resilience!

Back to Basics with Reconciliations

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Revenue Recognition for Nonprofits: 4 Mistakes to Avoid

The Charity CFO

JANUARY 11, 2023

Revenue recognition for nonprofits may seem fairly straightforward, but has unique complexities with important compliance consequences. Nonprofits rely on a mix of sources for their income, from fundraising, grants, and investments to earned income and individual contributions. Nonprofits that do not have set programs.

Nonprofit

Nonprofit GAAP Accounting Principles Auditing

The Basics of Nonprofit Bookkeeping

The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. Furthermore, nonprofit bookkeeping differs in some critical ways from for-profit bookkeeping too. Manage payroll .

Nonprofit

Nonprofit Invoicing General Ledger GAAP

Why Nonprofits Need to Switch from Cash-Basis to Accrual-Basis Accounting

The Charity CFO

JULY 12, 2024

While many nonprofits start with cash-basis accounting due to its simplicity, this method often falls short of providing a comprehensive view of a nonprofit’s financial health. Cash-basis accounting is most common for smaller nonprofits, where financials tend to be less complicated.

Nonprofit

Nonprofit Accounting Budgeting GAAP

7 Keys to Nonprofit Financial Management

The Charity CFO

APRIL 13, 2023

Nonprofit financial management is one of the primary concerns for organizations. Nonprofits are special types of organizations, in both their structure and their purpose. This meaning is the driving force behind what nonprofit organizations do day in and day out. Compliance requirements vary by state and funding sources.

Nonprofit

Nonprofit Compliance Accounting Standards Budgeting

The Complete Guide to Nonprofit Accounting Careers

The Charity CFO

AUGUST 15, 2023

The nonprofit sector is full of rewarding and impactful careers because it plays a crucial role in addressing various social, environmental, and humanitarian challenges. In this section, we will debunk the three most common nonprofit accounting myths. However, most of it is actually the same. However, most of it is actually the same.

Nonprofit

Nonprofit Accounting Profit and Loss Budgeting

Nonprofit Accounting Basics for Founders, Board Members & Executives

The Charity CFO

JANUARY 17, 2022

If you’re like most nonprofit leaders, you’re not researching nonprofit accounting basics to satisfy your curiosity. with this overview of nonprofit accounting basics. . What is nonprofit accounting? The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. .

Nonprofit

Nonprofit Accounting Profit and Loss Accounts Payable

7 Essentials Of Nonprofit Financial Management

The Charity CFO

JANUARY 5, 2023

Many nonprofit organizations tend to let their financial management slip on the backburner as they get busy fulfilling their mission. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. Tax issues and non-compliance with regulatory requirements. Nonprofit fiscal policy. A Nonprofit Budget.

Nonprofit

Nonprofit GAAP Budgeting Auditing

Outsourced bookkeeping for a nonprofit

The Charity CFO

MAY 11, 2023

Bookkeeping is a critical component of running a successful nonprofit organization. However, managing bookkeeping in-house can be time-consuming and expensive, which is why many nonprofits are turning to outsourced bookkeeping services. As a leader, you’ll have to determine what is right for your nonprofit.

Nonprofit

Nonprofit Communication Auditing GAAP

Which IRS Form 990 Should Your Nonprofit File?

The Charity CFO

FEBRUARY 2, 2022

Every tax exempt nonprofit must file IRS Form 990 (Return of Organization Exempt from Income Tax) every year. That’s right, your nonprofit needs to file an IRS return. In fact, as a nonprofit organization, the expectations for transparency and accountability are higher than those for for-profit businesses. Form 990-N.

Nonprofit

Nonprofit Profit and Loss Auditing GAAP

When to use FP&A software for nonprofits

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 specific circumstances of how nonprofits operate and get funded adds a layer of complexity to their FP&A processes. No programming. No formulas.

Financial Planning and Analysis (FP&A)

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

Nonprofit Accounting Services: The Right Solution

The Charity CFO

NOVEMBER 10, 2022

What should you look for when evaluating nonprofit accounting services? Nonprofit organizations exist to further a mission or goal. The truth is, many nonprofits tend to fumble when it comes to their books. . Benefits of Nonprofit Accounting Services. Improves compliance. Boosts donor confidence.

Nonprofit

Nonprofit Accounting Auditing GAAP

Updated Accounting Standards for In-Kind Donations (2022)

The Charity CFO

MAY 10, 2022

If your nonprofit uses donations of supplies, services, and even time to help fund your operations, you need to know about recent changes in accounting standards for in kind donations. So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022.

Accounting Standards

Accounting Standards Accounting GAAP Nonprofit

The Difference between a Bookkeeper, an Accountant, and a CFO

The Charity CFO

JULY 19, 2024

Common nonprofit bookkeeping tasks include: Recording donations Entering accounts payable and receivable Organizing and reviewing bank statements Maintaining the general ledger These everyday financial duties help bookkeepers provide a clear and up-to-date picture of the nonprofit’s financial status.

CFO

CFO Accounting Nonprofit General Ledger

Financial Planning for Nonprofits – It’s Time to Arm Your Finance Team with Modern FP&A Tools to Thrive in a Post-Pandemic World

Centage

NOVEMBER 22, 2021

Building and managing an effective budget and plan can be daunting no matter what industry, but financial planning for nonprofits can be particularly difficult. And while no industry was spared in the wake of the pandemic, nonprofits were hit hard. It’s all automated and GAAP compliant. increase in charitable giving in 2022.

Financial Planning and Analysis (FP&A)

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

When Does Your Nonprofit Need an Audit?

The Dual Purposes of Accounting and Fundraising Software

Webinars

Trending Sources

How to Comply with Accounting Standards for Nonprofits

Webinars

Revenue Recognition for Nonprofits: 4 Mistakes to Avoid

The Basics of Nonprofit Bookkeeping

Why Nonprofits Need to Switch from Cash-Basis to Accrual-Basis Accounting

7 Keys to Nonprofit Financial Management

The Complete Guide to Nonprofit Accounting Careers

Nonprofit Accounting Basics for Founders, Board Members & Executives

7 Essentials Of Nonprofit Financial Management

Outsourced bookkeeping for a nonprofit

Which IRS Form 990 Should Your Nonprofit File?

When to use FP&A software for nonprofits

Nonprofit Accounting Services: The Right Solution

Updated Accounting Standards for In-Kind Donations (2022)

The Difference between a Bookkeeper, an Accountant, and a CFO

Financial Planning for Nonprofits – It’s Time to Arm Your Finance Team with Modern FP&A Tools to Thrive in a Post-Pandemic World

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