Strength Matters’ working groups represent an array of industry experts who work together to provide best practices, for financial reporting and guidance on upcoming financial topics.
The CFO Working Group’s goal is to identify and promote financial reporting and financial management best practices and to develop and expand the professional knowledge base in the industry. The group believes that financial statements should reflect the true strength of an organization and tell its story in a language others can easily understand. The members of this working group are experienced CFOs with operational and financial accounting and tax backgrounds. They are joined by CPAs from firms with leading affordable housing practices. This CFO/CPA body authors and edits best-practice papers that are published and included in the Strength Matters library. The papers are a resource to financial and accounting professionals. Group members develop and deliver best-practice training through webinars and industry conferences. The group enjoys regular monthly peer exchanges and an annual meeting where the challenges of financial management are explored and supported.
The Financial Professionals Group debates complex accounting treatments that have multiple interpretations. Working together, CFOs and CPAs develop background on the effects of accounting treatments and create examples, showing the financial statement impact of differing interpretations. This interpretive work is shared with the CFO Working Group and published through the Strength Matters website. The Financial Professionals Group members stay current on new and upcoming Financial Accounting Standards Board pronouncements, and the group develops commentary for FASB exposure drafts. This group meets several times a year, by conference call or in person, and it convenes at the Strength Matters Annual Meeting.