Now more than ever, cash and cash equivalents is one of the most important numbers on your organization’s financials. It’s critical not only to understand your cash flow, but to have deeper insights into the various facets of your organization’s cash management process. Best in class financial systems have strong cash management functionality far beyond what you’ll see in entry level systems.
Like many areas of our lives in 2020, Employee Benefit Plans also experienced a number of significant changes as a result of the pandemic and the CARES Act. Plan sponsors should take note that the approval of two new audit reporting standards, SAS 134 and SAS 136, will likely impact the performance and timing of your audit. For the first time in many years, there are also changes to how employers must attest to their annual limited-scope audits.
Join AICPA & CIMA for a big-picture view of all things not-for-profit accounting at the 2021 Not-for-Profit Industry Conference. Between tax reform, ASU updates, Uniform Guidance and much more, it’s been difficult to keep up with the recent changes. GRF’s Accounting, Tax and Advisory professionals will present sessions ranging from understanding UBIT to assessing risk with Enterprise Risk Management.
Spreadsheet-based budgeting and planning is never “board-worthy”, and it doesn’t provide finance teams enough time to do what-if analysis and forecasting. Using a budgeting and planning solution that integrates with your accounting system can save hours to days’ worth of work and eliminate common pitfalls of spreadsheet-based processes. With the right budgeting software, everyone works on the latest version and knows who updated the budget and when. You can create and save multiple scenarios within a single budget, so you have a better handle on your process.