Business and IT Consulting
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. […]
Strengthening Cybersecurity: Key Actions to Mitigate Evolving Threats
Boost Your Cybersecurity with These Essential Tips In today’s interconnected world, cybersecurity threats are escalating at an alarming pace. From sophisticated ransomware campaigns to targeted phishing schemes, these attacks underscore the evolving strategies of cybercriminals and the vulnerabilities in current security infrastructures. Several factors contribute to the recent increase in cyber threats. The widespread adoption […]
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 […]
Webinar On-Demand – Budget With Efficiency!
Webinar: Streamline budgeting, forecasting, and reporting with Martus™ Are you tired of the time-consuming and frustrating annual budgeting process? AAFCPAs helps clients streamline budgeting, forecasting, and reporting with Martus™, an easy-to-use and affordable cloud-based software. Webinar Highlights Webinar OnDemand Why Watch? AAFCPAs helps clients ditch the spreadsheets and budget better! Budget in minutes, not months.
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. […]
Safeguarding Against Holiday Season Phishing and Cyber Threats
AAFCPAs would like to remind clients that the period between Thanksgiving and New Year’s is a prime time for phishing and other malicious cyberattacks. Cybercriminals take advantage of increased internet shopping, debit/credit card use, and the influx of holiday offers to deceive individuals into disclosing sensitive information. Now more than ever, vigilance is required in […]
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. […]