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

MAY 10, 2022

But the deadline for making the changes has passed, and the FINAL deadline (for interim reporting periods) is coming up next month. So now is the perfect time to make sure you report in kind gift donations in compliance with GAAP standards in 2022. When do the changes to in kind gift reporting go into effect?

Accounting Standards 98

Accounting Standards Accounting GAAP Nonprofit 98

Future CFO

APRIL 18, 2022

Finance organizations regularly face the challenges of meeting strict deadlines and satisfying data quality requirements for closing the books and delivering accurate financial statements. IBM Cognos Controller supports the close, consolidation and reporting process with the agility and affordability of a cloud-based solution.

Finance 52

Finance IFRS GAAP Accounting Principles 52

The Charity CFO

MARCH 13, 2023

The way revenue and expenses are recorded can differ for GAAP purposes and tax purposes ( Form 990 ). For tax, this excess amount is reported as a contribution, and for GAAP, it can be reported as either a contribution or special event revenue. It will not be reported on Form 990. Get the free guide!

Nonprofit 98

Nonprofit GAAP CFO Accounting 98

The Charity CFO

JANUARY 17, 2022

You need to get a better grasp of your organization’s finances now. So you can understand what’s happening in your business and communicate effectively with your board members, donors, and financial team. It shows as a liability on your financial reports, so it reduces your net assets. It’s a necessity.

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

CFO Talks

SEPTEMBER 5, 2024

It’s essential to engage with various stakeholders—including finance teams, auditors, and even IT professionals—to identify the specific needs that your system must address. A user-friendly interface can significantly reduce the learning curve and increase the system’s adoption rate among your finance team.

IFRS 98

IFRS GAAP Compliance Reconciliations 98

Planful

SEPTEMBER 5, 2019

Periodic financial reporting is a great example. Most organizations put a great deal of manual effort into their periodic reporting. They throw finance bodies at the task of requesting, gathering, collating, and organizing the required data. That is, until the offending task pops up again. That’s just one simple example.

Financial Reporting 40

Financial Reporting IFRS GAAP Auditing 40

The Finance Weekly

MARCH 25, 2024

(GOOGL) stock worth over $20 million, his financial portfolio is quite diversified. Anthony Noto Anthony Noto, a famous finance executive and former NFL exec, now wears the CEO and CFO hats at a fintech company named SoFi. Ianniello is well-known in finance circles. They're all about keeping the company's finances in good shape.

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CFO Finance Forecasting GAAP 97

Planful

SEPTEMBER 6, 2021

In an ideal world, financial reports should build shareholder trust by offering accurate data about the performance of the company. In reality, a company’s financial report can be more flimsy—involving estimates and judgment from leadership that’s far from the truth. at its peak to $0.26

Financial Reporting 40

Financial Reporting Valuation IFRS GAAP 40

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. And the more transparent your accounting system is, the more accountable you’ll be with the public and GAAP.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98

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. It’s all automated and GAAP compliant. But understanding the financial impact of decisions is just the tip of the iceberg. No programming. No formulas.

Financial Planning and Analysis (FP&A) 72

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

The Charity CFO

APRIL 5, 2022

But that’s not quite true—nonprofits face a decision between 2 different accounting methods for tracking their financial activity: cash accounting vs. accrual accounting. Though both systems use the same numbers, looking at those numbers differently can give you a very different perspective on the state of your finances.

Nonprofit 98

Nonprofit Accounting GAAP Auditing 98

The Charity CFO

OCTOBER 9, 2024

individual and corporation connections), history, donor intent, or soft credits Accounting software tracks financial transactions with strict adherence to GAAP Integrating two systems with fundamentally different data priorities can risk data inconsistencies, inaccuracies, and loss of information. Contact us today to learn more!

Accounting 52

Accounting GAAP Nonprofit Accounting Principles 52

PYMNTS

DECEMBER 16, 2016

A key part of business life is getting the books closed on time, with clean financial reporting that allows a high-level and granular view of what needs to be done next. This is especially true when multinationals must reconcile data across different accounting standards, such as GAAP and IFRS.

IFRS 74

IFRS Reconciliations GAAP Accounting Standards 74

Bramasol

JULY 26, 2024

Using CLM, global companies are better able to manage lease classification such as sales type leases and operating leases, as well as to meet lessor accounting requirements of US GAAP and other country GAAP requirements, or IFRS mandates. Multiple Regulatory Compliance Mandates: Meeting regulatory requirements (e.g.,

SAP 79

SAP IFRS GAAP Compliance 79

The Charity CFO

JANUARY 11, 2023

All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. Understanding how and when to recognize different revenue is perhaps one of the most important but difficult aspects of managing a nonprofit’s finances. Undergo annual financial audits.

Nonprofit 52

Nonprofit GAAP Accounting Principles Auditing 52

Centage

DECEMBER 7, 2022

It’s during times like this where it’s important for finance teams to evaluate their budgeting, planning, and forecasting processes, evolve priorities and implement best practices to ensure they have insight and confidence needed to navigate the year ahead and beyond. Key Priorities & Requirements for Finance in 2023.

Budgeting 98

Budgeting Planning Forecasting GAAP 98

Strategic Treasurer

MARCH 6, 2023

Episode 243 Becoming a Treasurer Series, Part 24: Languages of Finance: FP&A As we jump back into the Becoming a Treasurer series, we are launching a new sub-series where we will look at the “language of finance.” What are some of the different ways we look at it in finance, accounting as a view of it?

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Treasury GAAP 52

Bramasol

MAY 13, 2024

Its primary role is to oversee and regulate the auditing of public companies to protect investors' interests and ensure the integrity of financial reporting. Standard-Setting: It plays a role in setting and updating auditing standards to enhance the quality of audits and financial reporting. Why Should You Care?

Auditing 83

Auditing Compliance SAP Accounting Standards 83

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. Do You Struggle to Make Sense of Your Financial Statements? 117 (FASB 117). Get the free guide!

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

CFO Leadership

OCTOBER 18, 2023

AI coupled with The Digitization of the Finance Function create powerful levers for today’s CFO. AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals.

Accounting 52

Accounting Finance Auditing IFRS 52

The Charity CFO

JANUARY 5, 2022

For example, “salary” is a straightforward line-item on a for-profit financial report. . To complete your IRS 990, you’ll need to report your expenses based on how they fall within 3 categories, they are: . That means you’ll need to present a Functional Expense Report to pass an audit. To build public trust.

Nonprofit 96

Nonprofit Auditing Accounting GAAP 96

The Charity CFO

NOVEMBER 10, 2022

Whether you are an educational, charitable, religious, sports, or other public-benefit organization, you need to have a good handle on your finances in order to make the most impact. Yes, they might have a board member or volunteer who takes care of the finances, but they often lack specific expertise in nonprofit accounting.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 52

Centage

NOVEMBER 22, 2023

In the detail-oriented world of finance, where precision and foresight are paramount, financial professionals often grapple with the daunting task of consolidating multiple Profit & Loss statements (P&Ls). This not only hampers efficiency but also poses a significant risk to the accuracy of financial reporting.

Profit and Loss 52

Profit and Loss Budgeting GAAP Financial Reporting 52

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. Sure, your mission should be a priority, but managing finances can’t be neglected either. Without a good grasp of your finances, your nonprofit risks: Exposure to fraud. A Nonprofit Budget.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

The Charity CFO

DECEMBER 28, 2022

This financial report contains three segments: 1. GAAP requires that you separate revenue as either: Restricted: This includes all donations that the donor has given directions on how and when you can spend the funds. It helps you comply with GAAP standards and IRS regulations. How much money did you bring in?

Nonprofit 52

Nonprofit GAAP Accounting Financial Reporting 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

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. Transitioning to accrual-basis accounting can offer a more accurate representation of finances and enhance long-term planning. Get the free guide!

Nonprofit 52

Nonprofit Accounting Budgeting GAAP 52

Cube Software

MAY 11, 2023

Pro forma statements are financial projections that ask and attempt to answer "what if" questions. What will our finances look like?" The Securities and Exchange Commission (SEC) requires that discrepancies between pro forma and GAAP-compliant financial reports be explained when released to the public.

GAAP 40

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

The Charity CFO

JULY 19, 2024

But did you know there are a variety of financial professionals that are essential to the financial well-being of an organization? Bookkeepers, accountants, and Chief Financial Officers (CFOs) all serve critical roles in managing an organization’s finances. Do You Struggle to Make Sense of Your Financial Statements?

CFO 52

CFO Accounting Nonprofit General Ledger 52

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

Planful

AUGUST 1, 2017

If the latter is the case, Planful recently held a webinar focused on how you can automate and accelerate the financial close, consolidation, and reporting process and free up more Finance time for value-added analysis. Financial Close, Consolidation, and Reporting – Who Cares? Multi-GAAP reporting (i.e.,

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

Boston Startup CFO

OCTOBER 13, 2015

Company founders and CEOs are rarely equipped to handle financing strategies, budgets and dealing with investors. But bringing on a chief financial officer is not cheap. He also stepped outside of his world of finance and dove into other parts of our business. It’s a growing pain that many small businesses have.

CFO 52

CFO Tax Planning GAAP Budgeting 52

CFO News Room

NOVEMBER 2, 2022

Along with renewing their registration annually (for both SEC- and state-registered firms), firms face a variety of requirements related to their internal finances, fees, marketing activities, and advisor agreements depending on whether they are SEC- or state-registered. RIA Fee Itemization And Surprise Custody Audits.

Compliance 130

Compliance GAAP Investments Advertising 130

Planful

JULY 27, 2016

Limited reporting and analysis capabilities, and too much manual effort. Not being compliant with US GAAP or IFRS. The next logical step is to replace the spreadsheet-based process with purpose-built enterprise performance management (EPM) applications designed to streamline budgeting, planning, and financial reporting.

Financial Planning and Analysis (FP&A) 40

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

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). When understanding how employees affect your financial health, consider: Organizational chart – ensuring that you have the right people in the right positions can make an organization run smoothly.

Nonprofit 52

Nonprofit Accounting Standards Compliance Budgeting 52