Planful

JULY 25, 2017

It could be because your team lacks crucial financial reporting and analysis capabilities that help track key business metrics and trends. So, what exactly is financial reporting and why is it vital? Key Types of Financial Reports. Profit and Loss Report: .

Financial Reporting 40

Financial Reporting Financial Planning and Analysis (FP&A) Profit and Loss Compliance 40

CFO Talks

NOVEMBER 20, 2024

For example, while South African companies follow International Financial Reporting Standards (IFRS), the US requires compliance with its Generally Accepted Accounting Principles (GAAP). IFRS is principles-based and allows for some judgment in financial reporting, while GAAP is more rigid, rules-based, and less forgiving.

IFRS 97

IFRS GAAP Currencies CFO 97

CFO Share

MAY 22, 2024

Consistent financial reporting is critical for business management. These reports are the backbone of evaluating business performance – crucial for making informed decisions, attracting investors, and securing loans. What is a Financial Statement? You won’t be able to sell your business.

Profit and Loss 105

Profit and Loss General Ledger Accounting Financial Reporting 105

Centage

DECEMBER 12, 2023

When it comes to analyzing a company’s financial health, one of the most important documents to look at is the consolidated profit and loss statement (often called a P&L, P and L, or P&L statement). What is a consolidated P&L statement? A consolidated income statement is essentially a consolidated P&L.

Profit and Loss 52

Profit and Loss Budgeting Forecasting Financial Reporting 52

CFO Share

AUGUST 14, 2024

The best businesses review a budget vs. actual report monthly with their CFO. This classic method of evaluating performance stands as one of the most important monthly financial reports for any company. Follow these 6 steps to build a simple variance report: Create a new spreadsheet separate from your financial forecasts.

Budgeting 52

Budgeting Profit and Loss Forecasting CFO 52

CFO Simplified

AUGUST 14, 2022

Produce stable, timely financial reports. You should be getting financial reports within 10 days of the close of the month for yourself to look at anyway. When rebuilding your relationship with your bank, it’s important that your financials are stable. Read this article to learn how to calculate profitability.

Banking 98

Banking Profit and Loss Financial Reporting CFO 98

CFO Simplified

SEPTEMBER 11, 2022

Here, you’d have a huge amount of profit all at once. However, if you paid to cover all those past due payments, you would register a HUGE loss in that month because of the high amount of cash going out of your business. That net is how much of a profit or loss you had for that month.

Profit and Loss 98

Profit and Loss CFO Accounting Financial Reporting 98

CFO Talks

NOVEMBER 25, 2024

As a CFO your influence extends beyond financial reports and budgets. It’s when you’re forced to weigh conflicting priorities—profit versus integrity, loyalty versus legality, or personal values versus organisational goals. What is an Ethical Dilemma?

Leadership 98

Leadership Auditing Profit and Loss Compliance 98

CFO Simplified

FEBRUARY 17, 2022

But understanding your company’s profitability is critical to making the right decisions. Confusion over cash-versus-accrual reporting creates continuing questions for business owners. The business’ part-time CFO was providing financials that didn’t match the reports they received from their accountant. Initial contact –.

Accounting 52

Accounting Retail Profit and Loss Cash Flow Forecasting 52

CFO News Room

FEBRUARY 4, 2022

Tax laws allow for the modified accelerated cost recovery system (MACRS) depreciation method, while most companies use the straight-line depreciation method for financial reporting. Equity classifications typically result from the company using accelerated depreciation for tax purposes but not for financial-reporting purposes.

Profit and Loss 130

Profit and Loss Financial Reporting Accounting Sales 130

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

Adam Kae

NOVEMBER 14, 2022

Have You Ever Asked Yourself the Following Question: "Where did all of my profit go?". They all reside on the Balance Sheet and not the Profit and Loss Statement. This connection between the 2 primary financial reports is why your bank balance is so low and your income tax bill is so high. Asset Purchases.

Profit and Loss 52

Profit and Loss CFO Financial Reporting Banking 52

The Charity CFO

JANUARY 17, 2022

And then, there are a series of reports and financial statements you’ll use to communicate the financial reality of your organization to potential donors, the IRS, watchdog agencies, and other stakeholders. The basic accounting principles for nonprofit organizations are the same as accounting for for-profit companies. .

Nonprofit 98

Nonprofit Accounting Profit and Loss Accounts Payable 98

The Charity CFO

APRIL 26, 2024

As a nonprofit leader, you know nonprofit accounting isn’t the same as for-profit business accounting. For example, your nonprofit owns a for-profit business , which could lead to complicated tax requirements or even loss of exempt status. How Do You Approach Financial Reporting for Nonprofits? Get the free guide!

Nonprofit 52

Nonprofit Accounting Profit and Loss Communication 52

CFO Simplified

FEBRUARY 17, 2022

The company was profitable, but after some moves to expand the business, they were worried about depleting their cash reserves and using up their line of credit with the bank—which would put a halt to further expansion plans. The company opened an eBay store and turned the trade-in losses into a new profit center. 11,500,000.

Profit and Loss 52

Profit and Loss Cash Flow Forecasting CFO Financial Reporting 52

CFO Simplified

APRIL 15, 2022

Unfortunately, financial reporting had been inconsistent, so the owners wanted help putting together a set of financials that the bank would accept. Financial Reporting Inconsistencies. The bank reported a loss of confidence in management as a result of the inconsistent financial reporting.

Profit and Loss 52

Profit and Loss Manufacturing General Ledger Accounts Payable 52

The Charity CFO

JANUARY 19, 2023

Nonprofit organizations distinguish themselves from for-profit entities through their purpose and mission. Their mission is usually anchored on a cause or social purpose, not on the generation of profits. NPOs must adhere to these accounting policies to remain compliant with the law and maintain their tax-exempt status.

Accounting Standards 52

Accounting Standards Nonprofit Accounting GAAP 52

CFO Share

AUGUST 5, 2021

In simple terms, that means the cannabis industry taxable income is closer to its revenue rather than profit. Losses under section 165 (fire, storm, theft, etc.). Depreciation and amortization reported for tax purposes in excess of that reported in financial reports. Interest expense. R&D expenses.

Forecasting 96

Forecasting GAAP Profit and Loss Accounting Principles 96

The Finance Weekly

FEBRUARY 23, 2022

A study by the University of Baltimore and Excel-based FP&A company, , DataRails , lays out the full economic costs of businesses sticking with manually prepared financial reports. billion is the first number that came out of the research and this represents the total amount of money lost by manual financial work.

Financial Planning and Analysis (FP&A) 83

Financial Planning and Analysis (FP&A) Profit and Loss Budgeting Math 83

Creative CFP

NOVEMBER 2, 2020

The cash flow statement is the final piece of the puzzle when it comes to the monthly management reports that we prepare here at Creative CFO. This is without a doubt one of the most important and often overlooked financial reports within the monthly report pack. In essence, profits do not always equal cash.

Profit and Loss 52

Profit and Loss Cash Flow Forecasting Invoicing Forecasting 52

The Charity CFO

OCTOBER 13, 2023

When liquidation takes place, more often than not the corporation would be at a negative or loss on the resale of office chairs. On for-profit books, by reducing tax liability (assets) the business can ultimately pay less in taxes at the end of the year, which will increase their net (loss) of income. Get the free guide!

Nonprofit 97

Nonprofit Profit and Loss Math CFO 97

The Charity CFO

JANUARY 31, 2022

You may also know it as a profit and loss statement or income and expense report. Simply, it reports your organization’s revenue and expenses during a specific period and the difference between them. . In the for-profit world, they call the difference between revenues and expenses net income. Or profit. .

Nonprofit 98

Nonprofit Profit and Loss Accounting Principles GAAP 98

The Charity CFO

FEBRUARY 27, 2024

Review Prior Year Activity To review your prior year’s activity, you’ll use a “Profit and Loss Detail” report or something similar. This is found in your accounting system and you’ll want to run a report based on the current year. Do You Struggle to Make Sense of Your Financial Statements? Get the free guide!

Nonprofit 52

Nonprofit Budgeting Profit and Loss CFO 52

The Charity CFO

SEPTEMBER 14, 2022

As a result, Congress implemented the UBIT in 1950 to eliminate the unfair advantage tax exemption gave to nonprofits competing against for-profit entities in the same sector. For example, the UBIT prevents an entity such as a church from using its exempt status to open a store purely for profit with no charitable purpose.

Nonprofit 98

Nonprofit Profit and Loss Education CFO 98

The Charity CFO

MAY 31, 2024

The Importance of Efficient and Accurate Bookkeeping Just like for-profit businesses, nonprofit organizations need to have an efficient and accurate accounting system. Do You Struggle to Make Sense of Your Financial Statements? Learn more by scheduling a call with us today ! Get the free guide!

Nonprofit 52

Nonprofit Technology Auditing Profit and Loss 52

CFO Simplified

JUNE 1, 2023

Most business owners get financial reports monthly: Profit and Loss, Balance Sheet, Statement of Cash Flows. The problem is, those monthly reports show your financial performance in the past — what has already occurred in your business. They’re just running historical reports. More profitably.

Cash Flow Forecasting 52

Cash Flow Forecasting Profit and Loss Strategic Planning CFO 52

CFO Talks

NOVEMBER 29, 2024

Before joining Gas de Cameroon, Elizabeth held senior roles such as Financial Director for AEL Mining Services in West Africa and Country Finance Director for Coca-Cola SABCO in Tanzania. Notably, she reversed a decade-long loss at Coca-Cola, doubled profits, and restructured major funding. Let’s take a step back in your career.

Finance 52

Finance Profit and Loss CFO Leadership 52

CFO Simplified

APRIL 15, 2022

Knowing the actual cost of production is critical to setting accurate pricing and therefore profitability for any manufacturing company. Getting to the real numbers are the key to profitability. Significant Findings, Recommendations and Course of Action: Monthly Reporting Package. How are your costs being confirmed and posted?

Profit and Loss 52

Profit and Loss Manufacturing CFO Accounts Payable 52

CFO Share

AUGUST 14, 2023

On the other hand, venture capital backed businesses expect negative cash from operations since they have external financing and prioritize growth over profitability. Is the company returning cash to stakeholders or is it receiving outside investment to fuel growth and/or losses?

Profit and Loss 40

Profit and Loss Prioritization Finance Investments 40

The Charity CFO

OCTOBER 9, 2023

Understanding the Role of Accounting Setup for a Nonprofit Organization Accounting systems are a vital part of every business or organization, from the largest for-profit corporations to the smallest local charities. The most direct of these are financial inaccuracies and misreporting, which can create a host of related problems.

Accounting 59

Accounting Nonprofit Profit and Loss Compliance 59

Musings on Markets

NOVEMBER 1, 2023

I profited mightily on that investment, but I sold too soon , when Tesla's market capitalization hit $150 billion, and just before COVID put the company on a new price orbit. In short, Tesla's financial reports, are an illustration of how much expectations can play a role in how markets react to the news in them.

Valuation 116

Valuation Profit and Loss Numbers Sales 116

The Finance Weekly

MARCH 25, 2024

They also pitch in on major financial moves like mergers and fundraising. They double-check financial reports for accuracy and offer advice to the company leaders and the board. The CFO's job is to decipher various departmental forecasts to create profit projections for the CEO and shareholders.

CFO 97

CFO Finance Forecasting Accounting Principles 97

Musings on Markets

SEPTEMBER 5, 2024

Over the last two decades, companies have supplemented the financial reports with guidance on key metrics , particularly revenues, margins and earnings, in future quarters. Earnings Reports: Reading the Tea Leaves So what do you learn from earnings reports that may cause you to reassess what a stock is worth?

Marketing 118

Marketing Valuation Profit and Loss Forecasting 118

The Charity CFO

AUGUST 15, 2023

Myth #1: Nonprofit Accounting is Completely Different from For-Profit Accounting One reason accountants seeking a new role may steer clear of a nonprofit accounting position is that they assume the methods are completely different. In the for-profit world, revenue is typically only recorded when earned or cash has been collected.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

CFO Simplified

SEPTEMBER 11, 2023

I think that the Statement of Cash Flows is the disrespected stepsister of financial reporting, much like Cinderella. So, let’s look to see how this Cinderella report can help you plan for and understand your use of cash. By comparison, it’s much like your Profit and Loss statement.

Cash Flow Forecasting 52

Cash Flow Forecasting Forecasting Profit and Loss Financial Reporting 52

The Finance Weekly

OCTOBER 29, 2024

Three-Statement Model A fundamental model linking the three core financial statements: Income Statement Balance Sheet Cash Flow Statement Financial analysts often use this model to understand how various business activities, like revenue growth and expenses, impact performance. A loss decreases equity.

Financial Modeling 52

Financial Modeling Mergers and Acquisitions (M&A) Budgeting Forecasting 52

CFO Simplified

FEBRUARY 17, 2022

The initial draft of the budget projected a year-end loss of over $3.3 Without a plan to bring those sales forecasts to fruition, the projected loss would indeed become a reality. Improve cash visibility by instituting a daily cash report showing the ins and outs of company operations. Financial reporting was erratic.

Budgeting 52

Budgeting Cash Flow Forecasting Profit and Loss CFO 52