Summary
The MindBridge not-for-profit library supports workflows to easily surface relative risk summarization and analytical insight for specific programs, including industry-specific ratios.
- Not-for-profit: Account grouping
- Not-for-profit: Ratios
- Not-for-profit: Filters
- Not-For-Profit: Risk scores
- Program support
Not-for-profit: Account grouping
This library uses the MindBridge Account Classification (MAC) code system, which has been expanded to include not-for-profit concepts such as contributions and grants.
Not-for-profit: Ratios
This library contains 4 of MindBridge's predefined ratios.
Ratio | Formula | Description | Financial statement |
---|---|---|---|
Activity | |||
Repairs and maintenance as a % of property, plant and equipment | ([Repairs, maintenance, and upgrades * 365 / Days in YTD period] / [Building-related + Capital-lease-related + Other tangible capital assets]) | This ratio compares the amount of repairs and maintenance to the overall amount of plant, property and maintenance. An increase or decrease in this ratio may indicate unusual amounts being spent on repairs and maintenance or changes in the amounts of plant, property and equipment. | BS |
Profitability |
|||
Operating Reserve |
([Current assets + Capital assets + Grants receivable] / Expenses) |
Operating Reserve helps identify whether or not your client’s resources are sufficient and flexible enough to support their mission without borrowing externally. It also measures an organization's ability to fund programs and other expenses using expendable net assets, should no additional operating revenue be available. | BS |
Change in Net Assets | (Revenue – Expenses) | Measures an organization’s financial performance by answering the question, "Did the organization live within its means during the fiscal year?" While an organization's success shouldn't be judged by a positive or negative change in net assets over one year, consecutive deficits could be a cause for concern. | BS |
Operating Margin | ([Revenue – Expenses] / Revenue) | This is a great forecasting ratio as it measures a not-for-profit’s ability to produce a potential surplus, which could be drawn on if needed in future years. | IS |
Not-for-profit: Filters
This library includes 14 predefined filters made to help you narrow your search results when viewing an engagement’s transactions in the Data table dashboard.
Using various combinations of control points, accounting standards, and the auditor's professional judgement and understanding of the business, the following filters can be strong indicators of activity that falls outside the normal course of business.
You can also create your own filters tailored to your clients' needs.
Filter name | Filters on | Description |
---|---|---|
Additional assurance filters |
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High Impact Order |
and |
This filter finds entries or transactions that do not occur regularly in the dataset, with a net effect greater than the Material Value threshold as defined in the control point settings. |
MindBridge AI Journal Entry Testing |
and and or |
The filter finds outlier entries or transactions containing keywords indicating manual entry into the ledger, with a net effect greater than the Material Value threshold as defined in the control point settings.
|
Unusual Transactions | Flow Analysis |
This filter can help identify anomalous movements of money when compared to normal business practices. |
Purchasing cycle filters |
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Expenditure |
Account: Unspecified expenses or Account: Advertising and promotion or Account: Insurance expense or Account: Professional fees or Account: Rental expense or Account: Repairs, maintenance, and upgrades or Account: Supplies or Account: Travel expense or Account: Utilities or Account: Unspecified expenses or Account: Unspecified business tax/licence/membership or Account: Business membership or Account: Franchise fees or Account: Government fees or Account: Sub-contracts or Account: Crew share expense or Account: Unspecified operating expenses or Account: Unspecified computer-related expenses or Account: Data processing or Account: Unspecified office expenses or Account: Cash over/short or Account: Reimbursement of parent company expense or Account: Selling expenses or Account: Shipping and warehouse expense or Account: Delivery, freight, and express or Account: Warranty expenses or Account: Royalty expenses or Account: Dumping charges or Account: Land fill fees or Account: Vehicle expenses or Account: Research and development or Account: General and administrative expenses or Account: Interdivisional expenses or Account: Income tax expense |
This filter finds entries or transactions that belong to accounts related to expenditure. Note: The integrity of this filter relies on accurate account grouping and account mapping. |
Payroll Transaction |
Account: Employee benefits or Account: Employers' portion of employee benefits or Account: Payroll taxes or Account: Unspecified salaries and wages or Account: Employee salaries or Account: Management salaries or Account: Directors' fees or Account: Commissions |
This filter finds entries or transactions that belong to accounts related to payroll transactions. Note: The integrity of this filter relies on accurate account grouping and account mapping. |
Repairs and Maintenance Review |
Account: Repairs, maintenance, and upgrades |
This filter finds entries or transactions that belong to accounts related to repairs and maintenance review. Note: The integrity of this filter relies on accurate account grouping and account mapping. |
Revenue filter |
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Reversed Revenue or Reversal of Revenue |
Increasing Account Tags Revenue or Decreasing Account Tags Revenue and or |
This filter finds entries or transactions that are a credit or debit to revenue, and that are flagged as either a reversal or a reversed entry. When you import a general ledger, MindBridge updates the account tags based on MAC codes related to revenue (i.e., all online revenue, wholesale revenue, etc.) |
Revenue |
Account: Unspecified revenue or Account: Main business income or Account: Trade sales of goods and services |
This filter finds entries or transactions that belong to accounts related to revenue. Note: The integrity of this filter relies on accurate account grouping and account mapping. |
Standard filters |
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Transactions near Analysis Period End |
or |
This filter finds entries or transactions that occurred within the first or last 10 days of the analysis period. |
Transactions near Period End |
or |
This filter finds entries or transactions that occurred within the first or last 10 days of the reporting period. |
Manual Transactions near Analysis Period End |
or and |
This filter finds entries or transactions that occurred within the first or last 10 days of the analysis period, and that contain keywords indicating manual entry into the ledger. |
Manual Transactions near Period End |
or and |
This filter finds entries or transactions that occurred within the first or last 10 days of the reporting period, and that contain keywords indicating manual entry into the ledger. |
Material Transactions near Analysis Period End |
or and |
This filter finds entries or transactions that occurred within the first or last 10 days of the analysis period with a net effect greater than the Material Value threshold as defined in the control point settings. |
Material Transactions near Period End |
or and |
This filter finds entries or transactions that occurred within the first or last 10 days of the reporting period with a net effect greater than the Material Value threshold as defined in the control point settings. |
Not-for-profit: Risk scores
This library contains 3 assertion risk scores, the overall MindBridge score, and lists the rule-based, statistical, and machine learning control points within each assertion.
- Asset assertion scores
- Liabilities and equity assertion scores
- Overall scores*
- Profit and loss assertion score
*In addition to the 32 rules-based, statistical, and machine learning control points included in the overall MindBridge score, Expense Flurry has been added to the MindBridge score in the not-for-profit library.
Program support
During the column mapping process, you can identify relevant Programs available in the transactional data, and enable them for filtering and data interrogation throughout the analysis.
Additionally, when Programs are mapped successfully, a Statement of Functional Expenses becomes available as an Excel report, which breaks down all expenses in the ledger across their respective Programs.
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