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

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. For far too long, spreadsheet-based financial planning has been the standard. It’s all automated and GAAP compliant. The time for change is now.

Financial Planning and Analysis (FP&A) 72

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

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

APRIL 5, 2022

Cash accounting does not comply with Generally Accepted Accounting Principles (GAAP) for nonprofit organizations. Financial statement audit or review – if you are required to undergo a financial statement audit or assessment, using the accrual method to be in accordance with GAAP will make the process much smoother and less expensive.

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

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. This timeline should account for potential delays and include contingency plans in high-risk areas.

Auditing 59

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

The Finance Weekly

MARCH 25, 2024

His main job is to handle all money matters at SoFi, like planning, accounting, and dealing with investors. His main gigs included handling all the financial operations like accounting and financial planning, crafting financial strategies to boost the business, and managing relationships with investors and banks.

CFO 97

CFO Finance Forecasting GAAP 97

VCFO

NOVEMBER 1, 2023

Identify opportunities for operational improvement and incorporate strategic adjustments in the planning for the year ahead. Finishing Strong Evaluate Year-to-Date Financial Performance and Push Hard to the Finish How is performance year-to-date? These opportunities have deadlines that must be met, and planning is essential.

Finance 88

Finance Strategic Planning Auditing CFO 88

Planful

JULY 27, 2016

Are you wondering how best to make the business case to your company for investing in a cloud-based planning or reporting solution? Reducing Reliance on Spreadsheets for Budgeting, Planning, and Reporting. Limited reporting and analysis capabilities. Not being compliant with US GAAP or IFRS.

Financial Planning and Analysis (FP&A) 40

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

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 78

SAP IFRS GAAP Compliance 78

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). The goal is to create an accurate and comprehensive record of all transactions that can be used for both internal and external reporting, including audits and tax returns. 117 (FASB 117).

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

The Charity CFO

JANUARY 11, 2023

All these sources must be carefully managed to ensure compliance with Generally Accepted Accounting Principles (GAAP) and guidelines. This accounting principle outlines specific criteria that must be met before revenue can be recorded in financial statements. Undergo annual financial audits. Receive grants. Employ paid staff.

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

CFO News Room

NOVEMBER 2, 2022

But by being aware of the varying requirements and filing documents in an accurate and timely manner, new firms can navigate their way through the registration process and (finally) begin offering planning services to clients! Author: Chris Stanley. Guest Contributor. RIA Fee Itemization And Surprise Custody Audits.

Compliance 130

Compliance GAAP Investments Advertising 130

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. This timeline should account for potential delays and include contingency plans in high-risk areas.

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. This timeline should account for potential delays and include contingency plans in high-risk areas.

Auditing 52

Auditing Financial Planning and Analysis (FP&A) GAAP Compliance 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. These models link to the operating plan and can help predict how an organization would fare when faced with different variables. No programming. No formulas.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Nonprofit Budgeting GAAP 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. When you have a clear financial picture, it builds donor confidence and trust in your organization. . Generates accurate financial reports.

Nonprofit 52

Nonprofit Accounting Auditing GAAP 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

The Charity CFO

JANUARY 5, 2023

Maintaining healthy financial management is critical for the organization’s sustainability, stability, and flexibility, now and in the future. Poor financial reporting. They provide a framework for the oversight and governance of financial operations and activities. Increase transparency in your financial dealings.

Nonprofit 52

Nonprofit GAAP Budgeting Auditing 52

Cube Software

MAY 11, 2023

What is a pro forma financial statement? No business can survive without planning. These financial modeling tools are one of the most important to help a company prepare for any kind of scenario imaginable and map out a future trajectory. Think of pro forma statements as a monetary crystal ball, a guiding financial forecast.

GAAP 40

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

BlueLight

MAY 1, 2020

Traditionally, the chief financial officer (CFO) is responsible for tracking the company’s past and present financial situation and ensuring on-time and accurate financial reporting. This function is called financial planning and analysis (FP&A). The CFO takes on the responsibility of FP&A.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) CFO Strategic Planning Startups 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. Then there’s additional time spent on external financial reporting and filings.

GAAP 40

GAAP Value-Added Analysis IFRS Auditing 40

CFO Leadership

OCTOBER 10, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny? SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.),

Accounting 95

Accounting Finance Auditing IFRS 95

Centage

DECEMBER 21, 2023

hours for every report On-the-fly what-if scenarios 2-3 days per model Model major changes in hours >2 days for every what-if scenario “Prior to Centage I’d have a spreadsheet with 20 tabs, all of which were linked to a GAAP-based P&L on the first tab.

Budgeting 52

Budgeting GAAP Forecasting CFO 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. Engage in Pre-audit Self-assessments Creating a comprehensive project work plan, complete with a detailed timeline and activities, is pivotal for the audit process.

Auditing 52

Auditing General Ledger Reconciliations Accounting Standards 52

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. Budgeting and Planning Budgeting and planning are two essential aspects of a nonprofit accounting system.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

JULY 19, 2024

Thus, the nonprofit CFO carries the most significant responsibility out of the three by overseeing the entire financial strategy and management of the nonprofit. They’ll need to provide strategic planning, financial forecasting, and risk management while working with the board of directors. Get the free guide!

CFO 52

CFO Accounting Nonprofit General Ledger 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

Cube Software

MAY 10, 2023

This could be retail stores offering layaway plans or a media company offering subscriptions to streaming services. It is important to accurately track and report unearned revenue, so you can properly manage profit margins. This way, they can accurately reflect the true financial data of their business.

GAAP 40

GAAP Profit and Loss Accounting Principles Financial Data 40

Planful

JUNE 22, 2017

Consolidating the data following specific financial accounting rules and guidelines, such as U.S. GAAP or International Financial Reporting Standards (IFRS). Reporting results to internal and external stakeholders.

Accounting 40

Accounting General Ledger IFRS GAAP 40

The Finance Weekly

APRIL 6, 2024

Understanding the Net Book Value (NBV) of a company's assets is critical for knowing its financial health and potential for future growth. This accounting principle offers an insightful perspective into a business's worth , underlining the importance of financial reporting in today's market dynamics.

GAAP 52

GAAP Accounting Principles Financial Reporting Accounting 52

The Charity CFO

APRIL 13, 2023

Accounting Standards In the United States, all organizations must adhere to the Generally Accepted Accounting Principles (GAAP). These can help drive the budget process, financial goals, and strategic decisions. Do You Struggle to Make Sense of Your Financial Statements? Reach out to us here for a free consultation.

Nonprofit 52

Nonprofit Accounting Standards Compliance Budgeting 52

BlueLight

JULY 30, 2020

The financial implication of these decision is critical and the CFO is the executive helping the CEO navigate these decisions. Historically, the CFO role was focused on backward looking information: ensuring on-time and accurate financial reporting. Pre Series B, it’s a part-time role to simply track past financial numbers.

CFO 52

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

The Charity CFO

MAY 11, 2023

When determining your needs, be sure to consider what your complete financial package looks like and where you might need some help. Do You Struggle to Make Sense of Your Financial Statements? A bookkeeping or accounting service that is right for you will be able to accommodate your needs. Get the free guide!

Nonprofit 52

Nonprofit Communication Auditing GAAP 52

CFO Leadership

OCTOBER 18, 2023

AI driven automation is expected to extend to more complex tasks such as, audits, risk management, and financial planning and analysis. For instance, could financial statements generated by ChatGPT withstand audit scrutiny? SEC filings, GAAP documentation, FASB accounting standards, IFRS standards, PCAOB, FINRA, etc.),

Accounting 52

Accounting Finance Auditing IFRS 52

Musings on Markets

JULY 14, 2021

Almost in parallel, accounting as a profession found its footing and worked on creating rules that would apply to reporting, at least at publicly traded companies, with GAAP (Generally Accepted Accounting Principles) making its appearance in 1933.

GAAP 52

GAAP Forecasting Accounting Numbers 52