Wed.Nov 13, 2024

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Understanding Fund Accounting: The Backbone of Nonprofit Finances

GrowthForceBlog

9 min read November 6th, 2024 Looking at nonprofit financial management from a for-profit perspective makes the unique needs of a nonprofit's back office seem exceedingly complex. Key Takeaways Why Fund Accounting Is Crucial for Nonprofit Organizations: In nonprofit organizations, the goal and rules of accounting differ from the for-profit world. Nonprofit organizations aim to use almost all of their resources to further their mission in the.

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RSM Teams with Additive to Enhance Tax Service Capabilities Using Generative AI

CPA Practice

RSM, a major provider of assurance, tax and consulting services for the middle market, has announced a strategic business relationship with Additive to enhance tax service capabilities with the Additive generative AI platform. This collaboration positions RSM as a pioneer in integrating advanced AI technology into K-1, K-3, State K-1 and related document processing, enabling rapid and reliable tax solutions for clients and RSM engagement teams.

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FASB proposes to improve interim reporting

Accounting Today

The Financial Accounting Standards Board issued a proposed accounting standards update that aims to improve the navigability of the disclosures that need to be provided for interim reporting periods.

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Sikich Launches IAEdge for Internal Audit Compliance

CPA Practice

Sikich , a Chicago-based leading global technology-enabled professional services company, announced IAEdge , a comprehensive tool that combines traditional Quality Assurance Review (QAR) with the Internal Audit Capability Model (IA-CM) framework. With key updates to the Institute of Internal Auditors (IIA) Standards set to take effect in January 2025, IAEdge arrives in time to support organizations in navigating these changes, bolstering compliance and strengthening audit processes.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Citrin Cooperman buys Signature Analytics

Accounting Today

The acquisition of the San Diego-based outsourced accounting and advisory firm is the latest deal since Citrin received private equity financing.

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Wolters Kluwer and Internal Audit Foundation Uncover Potential of GenAI in Audit Activities

CPA Practice

Wolters Kluwer, a provider of information, software, and services for professionals, has collaborated with The Institute of Internal Auditors’ Internal Audit Foundation on a research report: Harnessing Generative AI for Internal Audit Activities. The report explores the use, implementation and governance of GenAI within organizations and internal audit functions.

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More Trending

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Citrin Cooperman Adds Signature Analytics in California

CPA Practice

Top 20 accounting firm Citrin Cooperman is continuing its run of acquisitions in 2024 by adding Signature Analytics, a San Diego-based outsourced accounting and advisory firm. Financial terms of the deal weren’t disclosed. As part of the deal, New York City-based Citrin Cooperman gains two partners and more than 65 professionals while expanding its presence in Southern California.

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Clock is ticking for renewal for some EAs

Accounting Today

The IRS is reminding Enrolled Agents with SSNs ending in 0, 1, 2 or 3 that they need to renew their enrollment.

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April Launches New Tax Filing Solution to Tackle Complex Financial Situations

CPA Practice

Embedded tax software provider April introduced AprilPro, an AI-powered filing solution to meet the evolving needs of taxpayers who have complex financial situations. AprilPro pulls in data from existing financial accounts, reducing the time spent gathering documents. Users can also easily upload files as needed, and a qualified tax professional will review and finalize each filing.

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Choosing the Perfect Outsourced Client Accounting Services for Your Business

AccountingDepartment

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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PCAOB Debuts ‘Audit Focus’ Series for Auditors of Small Public Companies

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) introduced on Wednesday a new series of staff guidance, “Audit Focus,” that is intended to provide easy-to-digest information to auditors, especially those who audit smaller public companies, with critical audit matters (CAMs) as the first topic. With an eye toward protecting investors and improving audit quality, the regulator said each edition of “Audit Focus” reiterates applicable auditing standards and staff guidance and offers reminders

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Enrico Palmerino's Journey with Botkeeper and AI in Accounting

Canopy Accounting

In this episode of Canopy’s Practice Success Podcast , guest host Davis Bell, CEO of Canopy, sits down with Enrico Palmerino, the CEO of Botkeeper. They explore the intersection of accounting, AI, and technology. Enrico shares his journey from a young entrepreneur managing accounting challenges to founding Botkeeper, a platform dedicated to automating bookkeeping processes.

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April releases solution for complex tax situations

Accounting Today

AprilPro addresses issues ranging from K-1s and 1099s to AMT calculations and real estate investments.

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Get Your Firm Organized for 2025

Canopy Accounting

In this webinar, you will hear from two experienced firm operations directors on how they keep their firms organized, build efficient workflows and automations, and effectively communicate everything to clients and staff.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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CIA certification is top surging skill

Accounting Today

Certified internal auditor certification, management accounting and company valuation are the top surging accounting and finance skills, according to a new Udemy report.

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Entigrity Merges with MYCPA and Rebrands as MYCPE ONE

CPA Practice

Entigrity, a provider of staffing solutions, and MYCPE, a provider of Continuing Professional Education (CPE) services to CPA & Accounting firms, announced merger to create MYCPE ONE. This strategic merger goes beyond simply combining the services; it’s aimed at building an integrated ecosystem that delivers a comprehensive suite of solutions to CPA & Accounting firms.

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Survey: Infor leads finance and accounting use cases vs. other ERPs

Accounting Today

A survey of ERP users found Info is used most often for accounting and finance; Microsoft for inventory management; SAP and Oracle for sales and customer relations.

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Vero AI Launches Iris GRC

CPA Practice

Analytics platform Vero AI has released Iris GRC (governance, risk, compliance), an AI-powered evaluation tool that enables enterprises across all sectors to streamline their compliance efforts for faster and more accurate results. Iris GRC analyzes and evaluates a wide range of organizational documents to determine a company’s compliance status for meeting regulatory standards, including ISO, HITRUST, and SOC 2, while helping them stay ahead of upcoming legislation.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Small Business Performance Declining According to Xero Data

Insightful Accountant

Xero data shows declining small business performance amidst economic uncertainty. Small business sales are lower than last year, and small businesses are experiencing worsening late payment times.

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Taxbit Unveils New Global Tax Reporting Platform

CPA Practice

Digital asset tax and accounting platform Taxbit on Nov. 13 announced the launch of its next-generation global tax reporting platform, built for enterprises managing complex tax reporting for digital products. “Taxbit’s platform helps modern enterprises navigate complex global reporting requirements with a single, automated solution,” the company says in a media release.

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Rewarding your Not For Profit team

Accounting for Good

Retaining talented employees is crucial for any organisation, and for not-for-profits, it can be particularly challenging.

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Human Interest: Making Retirement Accessible and Affordable for Small Businesses

Insightful Accountant

At the post Intuit Connect App Academy, Human Interest presented an impactful session on how their retirement solutions simplify 401(k) and 403(b) plans for small and medium-sized businesses.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Your First Step To No Overtime This Tax Season

Ryan Lazanis

Tax season often leads to overtime for firm owners, but it doesn’t have to. Discover a series of simple strategies to break the cycle. The post Your First Step To No Overtime This Tax Season appeared first on Future Firm.

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Small Business Performance Declining According to Xero Data

Insightful Accountant

Xero data shows declining small business performance amidst economic uncertainty. Small business sales are lower than last year, and small businesses are experiencing worsening late payment times.

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Cyber security for not for profit organisations

Accounting for Good

Not For Profit organisations (NFPs) are not immune to cybercrime. Hackers are becoming more sophisticated and targeting a broader range of victims.

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Newest Xero Features

Insightful Accountant

Xero has rolled out a couple of new 'bill' related features. 'duplicate detection' and 'bill quick-view'.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Sovos Introduces 1099 Professional For SMBs

CPA Practice

Tax compliance solutions provider Sovos recently announced the launch of 1099 Professional, a new solution designed to simplify tax information reporting for small and medium-sized businesses (SMBs). 1099 Professional offers SMBs an intuitive software solution for the preparation, electronic filing, and print and mailing of 1099 and 1042-S forms. Alice Katwan “Tax information reporting requirements are evolving rapidly, creating new compliance challenges for small and medium-sized businesses,” A

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"Input. Input. Input Required" - We need your App Input.

Insightful Accountant

We want to hear from you as to your preferred App Comparison categories. Please take this 1-minute survey to give us your input.

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Super Micro delays another filing after auditor's resignation

Accounting Today

The server maker has seen more than $50 billion of its market value wiped out over concerns about its accounting.

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Be Insightful For $1.00 For The First Month

Insightful Accountant

Insightful Accountant is offering a $1.00 first month trial of it's exclusive Be Insightful training program. Credit card required and price reverts to $49 per month after the first month.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.