4 mistakes to avoid as nonprofits prepare for audits | The changing regulatory landscape for non-GAAP metrics | CFOs must think about technology holistically
July 19, 2017
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Accounting and Reporting Update
How much should planning and budgeting cost?
Some businesses spend just 0.02% of revenue on planning, budgeting and forecasting, while others spend as much as 0.09%. Besides optimizing spending in these areas, CFOs should also talk with stakeholders to ensure these activities are aiding decision-making.
CFO (7/11) 
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4 mistakes to avoid as nonprofits prepare for audits
Nonprofit leaders need to have a solid understanding of their cash flow, but they should also take a close look at their organization's workflow and infrastructure as they prepare for potential audits. Here are four common mistakes nonprofits tend to make.
Accounting Today (6/26) 
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Managing the Complexities of Nonprofit Growth
Growth can mean different things to organizations, and managing growth in a responsible way is essential - regardless of your shape or size. Download Abila's Research Study: Managing Growth to discover how your peers are growing and their plans for overcoming growth challenges. Download today!
Emerging Trends
The changing regulatory landscape for non-GAAP metrics
Financial metrics that differ from generally accepted accounting principles may be useful for investors and analysts, but some observers worry that non-GAAP numbers can be misleading. This article describes how regulations for non-GAAP metrics have evolved from 2002 to the present.
The CPA Journal (7/2017) 
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CFOs must think about technology holistically
The growth of data analytics, artificial intelligence and robotic process automation is reshaping the capabilities of the finance department. To make the most of this shift, leaders must use different technologies in combination with one another while making the most of their human personnel, writes Felice Persico of EY.
CFO (6/27) 
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Eliminate Intercompany Accounting Risk
Join a three-part webinar series on the latest developments in intercompany accounting, designed for you to understand the new regulatory environment and build a strong intercompany accounting system for your organization. Register for the webinar today.
Tax Corner
Factor presence nexus: A growing trend in state taxation
A lack of state rulings on whether factor presence nexus is constitutional has not slowed the number of states adopting this theory of asserting taxing authority, which enables states to tax businesses with minimal contacts.
Journal of Accountancy print issue (7/2017) 
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Other News
Cyber risks for small and midsize businesses
55% of SMBs experienced a cyberattack in the last year. This report details how mid and smaller sized businesses can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education. Free report >
Leadership Lessons and Tips
Simplifying decision-making in an increasingly complex market
Decision-making has become more complex because of the influx of ways to collect, analyze and comment on data, according to this McKinsey analysis. This article describes ways to untangle complicated decision-making for a variety of scenarios.
McKinsey (6/2017) 
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Mediate, don't dictate, to resolve team disputes
Exercise mediation skills, rather than rely on your authority as a boss, when you must intervene to resolve disagreements on your team. This is key for ensuring that employees are truly committed to the solution and that they get better at solving problems.
Harvard Business Review online (tiered subscription model) (7/10) 
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How to fix a gap in interpersonal skills
Conflict resolution, negotiation and persuasive communication are key to successful management, but these "soft skills" are often overlooked in company training programs. Managers can get better in this area by trying to see the world from others' perspectives.
Forbes (7/8) 
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Other News
Tech Topics
Blockchain may be key in fraud prevention
Blockchain -- the technology that enables bitcoin trading -- can also help prevent fraud. Blockchain technology relies on a decentralized network of computers to verify transactions based on certain rules, making it difficult for individuals or groups to tamper with information.
The CPA Journal (6/2017) 
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These trends are driving the future of IT
Routine tasks and decisions are increasingly being handled by machines, enabling human workers to focus on business planning and other issues. This article explores emerging trends in information technology, including the spread of automation and the growing importance of speed and agility.
CIO online (7/11) 
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Regulatory Developments
G-20 task force creates financial framework for climate risks
A voluntary framework created by a G-20 task force will allow companies to disclose financial risks and opportunities stemming from climate change. Some stakeholders in the financial community believe that assets are not being priced properly because climate risk is not being fully considered.
Reuters (6/29) 
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CFPB rule takes aim at mandatory-arbitration clauses
A new rule from the Consumer Financial Protection Bureau is designed to prevent financial companies from forcing customers into arbitration to resolve group disputes.
USA Today (7/11) 
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CGMA Webcast: "Project Charter for Finance Professionals" -- Aug. 16 at 12 p.m. ET
Attend this webcast to learn how accountants can contribute to the development of robust project charters that ensure strong return on their organization's project portfolio investments. CGMA designation holders receive a 20% discount. Register here.
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New CGMA Report on "The Global State of Risk"
Are you up to date on the latest risk-management processes? Gain insights from executives in organizations worldwide in this new report. It provides an overview of the current state of enterprisewide risk oversight and highlights differences and similarities in four regions around the globe. Download the report here.
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New CGMA Report: "How to deliver a powerful financial presentation"
Presenting essential data without confusing or overwhelming your audience can be tricky. Find out what two accountants suggest when it comes to connecting with an audience. Download the report here.
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Webcast on "Improving Quality of Fair Value Measurements for Financial Reporting"
As an encore presentation from the 2017 CFO Conference, this webcast will focus on the new Certified in Entity and Intangible Valuations™ (CEIV) certification and the Mandatory Performance Framework. It will also address the effect on privately held companies that require fair-value measurements for financial reporting. CGMA designation holders receive a 20% discount. Register here.
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About the AICPA
The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations and federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.
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