FINANCIAL MANAGEMENT SERVICES
NCheng LLP has been providing financial management consulting and accounting services to nonprofit organizations since its inception. We have built the Financial Management Services (FMS) division primarily to serve a variety of nonprofit organizations.
- Fiscal and accounting support services
- Review and assessment of fiscal department and financial reporting
- Strategic and business plans
- Grants management
- Computer systems security reviews
- Human resources outsourcing
- Governance review
- Financial Information system design
Financial Planning and Budgeting
NCheng LLP recognizes the importance of financial planning and budgeting for nonprofit organizations. We work with nonprofits to develop and implement strategic financial plans and budgets that align with their organizational goals and priorities. We can help nonprofits optimize their financial resources to achieve their mission and maximize their impact. We understand our client’s needs and develop customized financial plans and budgets that are tailored to their unique circumstances.
Financial Statement Preparation
NCheng LLP prepares accurate and compliant financial statements for nonprofits, including balance sheets, income statements, and statements of cash flows. We ensure that your financial statements meet all applicable accounting and reporting standards. We use the latest accounting software and techniques to prepare financial statements that are accurate, reliable, and compliant with regulatory requirements.
NCheng LLP assists nonprofits with preparing for financial audits, and ensuring compliance with GAAP and other applicable accounting and reporting standards. We help nonprofits prepare for the audit process, including reviewing financial records, identifying potential issues, and developing solutions to address any concerns. We will work closely with nonprofits throughout the audit process to ensure that they are well-prepared and that the audit goes smoothly.
Tax Planning and Compliance
NCheng LLP provides tax planning services to help nonprofits minimize their tax liabilities and maintain compliance with federal, state, and local tax laws and regulations. We can help nonprofits understand their tax obligations and develop strategies to minimize their tax liabilities. We stay up-to-date with changes in tax laws and regulations to ensure that nonprofits are always in compliance.
NCheng LLP helps nonprofits manage their cash flows, including forecasting and monitoring cash balances, and developing effective cash management strategies. We understand that cash flow management is critical for nonprofit organizations, and we can help nonprofits optimize their cash flow to support their operations and mission. Our team can provide customized cash management solutions that are tailored to the needs of each nonprofit.
NCheng LLP assists nonprofits with managing their grant funding, including ensuring compliance with grant terms and conditions, preparing financial reports, and managing grant disbursements. Our team of professionals has extensive experience in grant management, and we can help nonprofits navigate the complexities of grant compliance and reporting. We will work closely with nonprofits to ensure that they are meeting all of their grant requirements and maximizing the impact of their grant funding.
NCheng LLP prepares and delivers regular financial reports to help nonprofits monitor their financial performance and make informed decisions. Our team of professionals can prepare customized financial reports that provide nonprofits with the information they need to manage their finances effectively. We work with nonprofits to develop reporting schedules and formats that meet their specific needs.
NCheng LLP provides financial analysis services to help nonprofits better understand their financial position, identify trends and areas for improvement, and develop strategies to improve financial performance. Our team of professionals can perform detailed financial analysis, including ratio analysis, trend analysis, and benchmarking, to help nonprofits identify areas for improvement and develop strategies to optimize their financial performance.
NCheng LLP helps nonprofits develop and implement investment strategies that align with their financial goals, risk tolerance, and organizational mission. We understand that investment management is critical for nonprofits, and we can help nonprofits develop investment policies and strategies that are tailored to their needs. Our team can provide customized investment solutions that are designed to maximize returns while minimizing risk.
Nonprofits face a variety of financial and operational risks that can impact their ability to achieve their mission and sustain their operations. NCheng LLP helps nonprofits identify and mitigate these risks by conducting risk assessments, developing risk management plans, and implementing risk mitigation strategies. Our team has experience in areas such as fraud prevention, cybersecurity, disaster recovery planning, and insurance analysis, and can work with nonprofits to develop customized solutions that address their specific risk management needs.
Board Governance and Training
Effective board governance is critical to the success of any nonprofit organization. NCheng LLP assists nonprofits with board governance and training, helping boards understand their financial oversight responsibilities and develop effective governance practices. We provide training on topics such as financial reporting, compliance, and risk management, as well as assist with board governance structure and policies. Our goal is to help nonprofits build strong, effective boards that are equipped to make informed decisions and provide strategic guidance to the organization.
Nonprofits must comply with complex rules and regulations surrounding revenue recognition to ensure accurate financial reporting and maintain compliance with accounting standards. NCheng LLP helps nonprofits navigate these regulations by providing guidance on revenue recognition policies, identifying and addressing revenue recognition issues, and ensuring compliance with accounting standards. We also assist with implementing accounting systems and processes to facilitate accurate revenue recognition and reporting and provide training on revenue recognition best practices to help nonprofits stay current with changing regulations.
The role of the CFO is critical for the success of any organization. Our Advisory Group specializes in providing management consulting services to a wide range of clients, offering expert advice and support to help organizations meet their financial and operational goals.
Financial Management Services
TNCheng LLP offers a complete outsourcing solution by staffing and taking over the entire accounting department of the organization. This includes assisting with payroll, cash management, preparing for audits, preparing budgets, credit card reconciliation, fiscal management and advisory, grant management, and preparing vouchers, as well as being compliant and ensuring tax compliance. With their dedicated team, NCheng LLP can provide regular financial reporting, financial analysis, and strategic planning to help clients achieve their long-term financial goals. By fully taking over the accounting functions, organizations can streamline their financial processes and focus on core business operations.
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