Business Process Improvement
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 […]
Shift in EEC Funding Model Requires Business Process Assessment
Effective October 1, 2024, the Massachusetts Department of Early Education and Care (EEC) shifted its contract reimbursement from a primarily unit-rate model to a mix of unit-rate and cost-reimbursable contracts. Under the new contracts, childcare seats will be reimbursed on a unit-rate basis while administrative and supportive services will be funded through cost reimbursement contracts. […]
Cost Center Coding Strategies for Effective Grant Reporting
For complex human and social services providers, managing grants and ensuring compliance can often feel like navigating a labyrinth. One effective strategy to simplify this process is through cost center coding. AAFCPAs provides the following detailed guidance on how to leverage cost center coding to streamline grant reporting and maintain compliance. Design Your Cost Centers […]
Enhancing Reporting Capabilities With Integrated Systems
For CFOs and financial leaders within the Health and Human Services sector, the challenge of managing and reporting on diverse programs funded from various sources is a significant one. Accurate and efficient reporting is essential but often hampered by data spread across multiple, disconnected systems. AAFCPAs provides the following guidance on how integrating these systems […]