GRF Financial Foresight

Insights from the team on the GRF blog

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Cybersecurity, Enterprise Risk Management | Businesses and Individuals, Government Contractors, International NGOs, Nonprofits and Associations

Fraudulent Applications: Are Attackers Pretending to be You?

GRF Cybersecurity Risk Assessment and Scorecard Blog Series     When downloading a new app, be sure it’s from a credible source. Hackers can create fraudulent applications that look very similar in name or appearance to well-known apps. To make matters worse, these fake apps can sometimes be found on trusted sites like the Apple or…

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Cybersecurity, Enterprise Risk Management | Businesses and Individuals, Government Contractors, International NGOs, Nonprofits and Associations

Fraudulent Domains: Are You a Victim of Typosquatting?

GRF Cybersecurity Risk Assessment and Scorecard Blog Series     Fraudulent domains look very similar to your organization’s domain name and are used to fool people into thinking they are interacting with you. These domains are often used in phishing attacks, which according to CSO Online, account for more than 80% of all reported security incidents….

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Audit and Assurance | Nonprofits and Associations

New Lease Standard: Practitioner Tips for Implementation of Topic 842

After helping numerous clients implement Accounting Standard Update (ASU) 2016-02, Leases (Topic 842), GRF’s team of audit specialists has compiled a list of tips, from their perspective as practitioners, to help organizations struggling with the new standard. Before considering the steps outlined below, it’s first helpful to understand the impact of Topic 842. Overview of…

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Accounting Technology | Businesses and Individuals, Nonprofits and Associations

Tips & Tricks of the Month from Sage Intacct: Using Checklists

Need to keep track of your team’s tasks and progress? Check out Sage Intacct’s Checklist feature, which is available to all subscribers of Sage Intacct. Intacct’s Checklists, mentioned in the 2021 release highlights, offers a more efficient way to assign tasks, enabling you to track high-level activities and clearly see the status of all tasks…

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| Nonprofits and Associations

Nonprofits Should Prepare Now to Accept Cryptocurrency

By Omid Mohebbi, CPA, Audit Manager, GRF CPAs & Advisors (GRF) Over the past year, there has been exponential growth in both the volume of cryptocurrency (crypto) donations to nonprofits and the number of nonprofits accepting such donations, either as cryptocurrencies or as liquidation to cash at the time of donation. This growth has been…

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Accounting Technology | Businesses and Individuals, Nonprofits and Associations

Sage Intacct Financial Planning & Analysis

By Luis Rivera Financial Planning & Analysis (FP&A) plays a vital part in an organization’s ability to create accurate budgets and forecast trends. Companies remain consistently valuable and profitable with meticulous attention to financial planning and cash flow management. Many companies recognize the need FP&A, but have not been able to fully integrate this function…

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Accounting Technology | Businesses and Individuals, Nonprofits and Associations

5 Checklist Items for a More Effective Month End Process

By: Luis Rivera The end of the fiscal year is the most important closing period for most companies. To make this process smooth and efficient, organizations should have a well-planned month-end closing process in place. If done correctly, these closings can help your organization stay in good financial standing, as they allow you to track…

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Accounting Technology | Businesses and Individuals, Nonprofits and Associations

Accounting Technology Tips and Tricks: Sage Intacct’s Collaborate

By: Luis Rivera Sage Intacct’s Collaborate is a tool already included within a Sage Intacct subscription. It allows you to share information and capture internal conversations within a record or transaction, so you can stay up to date in real-time. No more waiting on e-mail responses or sifting through your email history just to find…

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Tax Planning and Preparation | Businesses and Individuals

Tips for Easier Tax Filing in 2022

By Jennifer Galstad-Lee | Senior Manager, Tax The U.S. tax filing season is officially underway! The IRS has started accepting and processing income tax returns for the 2021 tax-year as of Monday, January 24, 2022. Filing Basics for Individuals Remember that most income is taxable. Be sure to keep records for income items, including: Forms…

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Audit and Assurance | Businesses and Individuals, Government Contractors, International NGOs, Nonprofits and Associations

Preparing for an Audit Made Easier with Financial Compilations and Reviews

By: Steven Lyons, CPA | Senior Manager, Outsourced Accounting and Advisory Services  In addition to providing a more cost-effective alternative to a financial statement audit, compilations and reviews offer businesses and nonprofit organizations a number of important advantages. Perhaps most important, compilations and reviews help your organization prepare for a future financial audit because they…

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