GRF Financial Foresight

Insights from the team on the GRF blog

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Accounting Technology | Nonprofits and Associations, Professional Services

I’m Often Asked, “What’s the Difference Between an ERP and a CRM?”

By Jim Norton, CPA, Principal, Accounting Technology Solutions It all starts to sound like alphabet soup after a while, but modern organizations are increasingly dependent upon cloud technology to get things done. In fact, remote work demands that data reside in the cloud so that work can be done anywhere and at any time. Over…

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Compliance, Outsourced Accounting | General Business, Government Contractors, Professional Services

2023 National 8(a) Association Conference Trends

This premier annual conference provides education and supplier diversity networking for small businesses. This year’s event was held at the Hyatt Regency New Orleans from February 13 through 15 and was sold-out. Clearly, many small businesses are ready to travel again for in-person events! In addition to making introductions to federal agencies and prime contractors,…

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Advisory, Outsourced Accounting

Wakeup Call: Protecting your Nonprofit from the Banking Crisis

By Elinor Litwack, Partner, Outsourced Accounting & Advisory Services As the 2023 banking crisis unfolds with the recent collapse of Silicon Valley Bank (SVB) and Signature Bank, all eyes are on what happens next. Fueled by the “blame game” and the media frenzy around vulnerabilities in the banking system, many businesses and consumers have lost…

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Enterprise Risk Management | International NGOs, Nonprofits and Associations

Workshop Highlights: Navigating the World of Uncertainties Impacting Non-Profit Organizations

The 4th Annual GRF /NC State ERM Workshop for Nonprofits was held on February 23 and 24, 2023. Nonprofit executives and board members from across the U.S. came together to share their experiences and discuss strategies and tactics for strengthening enterprise risk management at tax-exempt organizations. Melissa Musser, Partner and Director of GRF’s Risk Advisory…

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Employee Benefit Plans, Tax Planning and Preparation | Businesses and Individuals, Government Contractors

Updated State-Mandated Retirement Plans: An Overview for Businesses

Many Americans are not saving enough for retirement – in fact, a recent survey by the Federal Reserve found that a quarter of working adults have no retirement savings at all. To address this growing crisis, a number of states are enacting laws that require private businesses to provide employee retirement plans. The requirement comes…

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Audit and Assurance, Nonprofit Tax | International NGOs, Nonprofits and Associations

Prepare Now to Implement Topic 326 – Current Expected Credit Losses (CECL)

By: Susan Colladay, CPA, Partner, Audit Announced by the Financial Accounting Standards Board (FASB) in 2016, Accounting Standards Update (ASU) 2016-13: Financial Instruments – Credit Losses (Topic 326) is also referred to as Current Expected Credit Losses (CECL). The new standard improves financial reporting by requiring more timely recording of credit losses on loans and…

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Understanding the Difference between Overhead and G&A

By Paul Calabrese, Principal, Outsourced Accounting & Advisory Services If you’re like many government contractors (GovCons), the theory behind indirect rates is difficult to understand. Unfortunately, many GovCons set up an overly complex, 3-tier indirect rate system and discover later that it is not required at the onset. To help small and emerging contractors better…

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Tax Planning and Preparation | Businesses and Individuals

Tax Benefits of “Going Green”

By Jennifer Galstad-Lee, Senior Manager, Tax From electric vehicles to solar panels, “going green” can offer both environmental and financial benefits. With global conflicts and increased gas prices, now may be the time to explore reducing your carbon footprint to better the Earth and save you money. In addition, with more emphasis on environmental, social…

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Accounting Technology | Businesses and Individuals, Nonprofits and Associations

Top Three Takeaways from Sage Transform 2022

This year’s Sage Transform conference took place October 10-14 in sunny Orlando, Florida. And, like every Sage Intacct-led event, it was not only a great time for networking, but an informative event with news and updates from Sage. Below are our top three takeaways from the event. 2022 Sage Transform Key Takeaways New partnership with…

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Accounting Technology

How to Solve Your Multi-Entity Nonprofit Financial Management Challenges

As a nonprofit leader, you likely think of financial management as a necessary evil—bogging down your staff and creating bottlenecks or compliance problems. But it doesn’t have to be that way. In fact, with the right technology, managing your finances can be easy, effective, and offer new insights into your organization. This is especially true…

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