Business Process Improvement
Managing Cash Flow and Expenses in Life Sciences
In this article: Managing cash flow presents ongoing challenges for those in the life sciences, particularly those navigating pre-clinical research and early clinical stages. With significant resources devoted to research and development (R&D), precise cash tracking across R&D and general and administrative (G&A) categories is essential for sustaining growth and demonstrating financial responsibility. Distinguishing between […]
How Automation Enhances the UFR and Simplifies Nonprofit Reporting
For many Massachusetts human and social services contractors, preparing the annual Uniform Financial Report (UFR) is a significant endeavor. It is not only resource intensive and complex but presents limited flexibility and extensive redundancy. Gathering the financial details, meeting state regulations, and hitting strict deadlines consumes extensive resources for those already operating with limited staff. […]
Understanding the Risks of DeepSeek R1
AI tools have become increasingly integral to both our work and daily lives, assisting with everything from content creation to complex problem-solving. As these tools become more powerful, AAFCPAs’ IT Security team advises that clients take a cautious approach. One such tool making waves is the DeepSeek R1 model, developed by Chinese tech company DeepSeek. […]
Accurate Forecasting Matters for Business Growth
Budgeting and forecasting are critical components of financial planning, each serving its own distinct purpose. A budget establishes the financial framework for the year, providing a static benchmark against which performance is measured. But budgeting, while essential, is only half the equation. Cash forecasting completes the picture, offering a dynamic, real-time view of financial health […]
AAFCPAs Selects Caseware’s DAS as New Audit Methodology Platform
Boston, MA (January 2, 2024) – AAFCPAs, a top 100 CPA and consulting firm based in New England, announces the adoption of Caseware’s Dynamic Audit Solution (DAS) as its new audit methodology platform. This strategic decision underscores the firm’s ongoing commitment to leveraging cutting-edge technology to enhance audit quality, effectiveness, and client service. In addition […]
Streamlining Operations: How Modern ERP Systems Solve Inefficiencies and Drive Growth
In this article: Complex nonprofits, especially multi-service health and human services agencies, face the daunting task of managing diverse programs, complex funding streams, and stringent compliance requirements. Fragmented systems and disjointed processes can compound these challenges, leading to inefficiencies and increased administrative workloads. The implementation of a well-designed enterprise resource planning (ERP) system offers a […]
Is your chart of accounts an unnecessarily complex maze?
In the fast-paced world of business, growth often leads to complex challenges, especially in accounting. A common issue many organizations face as they expand is the management of increasingly lengthy account numbers. These numbers, which detail segments of transactions such as location, department, and grants, can become unwieldy as organizations rise to meet new challenges. […]
Optimize Q4 Budget Planning
In this article: During the fourth quarter, it is critical that organizations evaluate financial performance, finalize plans, and set priorities for the year ahead. It is a time to refine budgets, align strategies with goals, and prepare for challenges while building a foundation for success. The Q4 budgeting process ensures resources are allocated effectively, key […]
Announcing AAFCPAs’ Exciting Partnership with Oracle NetSuite
We are thrilled to announce that AAFCPAs has formed a new partnership with Oracle NetSuite, one of the world’s leading cloud-based ERP systems. This collaboration aims to provide our Outsourced Accounting & Fractional CFO (OAFC) clients with unparalleled support and advanced solutions that are perfectly tailored to their growing needs. Outsourced NetSuite Accounting For OAFC […]