Technology and Future of Accounting Industry
Technology has impacted almost every aspect of our lives; it has brought about a large number of welcome changes in every profession including the accounting industry. Integrating technology in accounting processes helps companies to derive the best values and generate new opportunities. Technology enables the use of accounting software to provide a high level of […]
10 Poor Accounting Practices That Can Impact Your Business
Every company small and big alike needs to keep their finances in check all the time, to do so they use various accounting practices and procedures. Companies that regularly keep their accounts and records up-to-date can take effective and timely decisions that lead to success and growth. Hence, it is imperative for every company to […]
How Artificial Intelligence will impact the Accounting and Finance Industry
If we look around us, we will be amazed by the fact that everything we use is powered by Artificial Intelligence (AI), right from our smartphones to the applications we use on it, smart speakers, televisions, smartwatches, air conditioners, refrigerators, and a lot more. AI has touched every aspect of our lives and it wouldn’t […]
Accounting Services for Manufacturing Firms and its Benefits
Financial services outsourcing has proven to be a boon to many businesses. The manufacturing sector has realized the benefits of outsourcing accounting services to a greater extent in recent times. The concerns of accounting for the manufacturing firms are unique. It ranges from the calculation of procurement costs of the resources, transportation costs, labor costs […]
Key Income Tax Changes effective from FY 2021
Every company following the financial year for its operations needs to be constantly updated with the latest income tax changes applicable for the said financial year and adhere to the new provisions. The Finance Act, 2021 was introduced on 28th March 2021 with amendments and provisions to the Income Tax Act of 1961 based on […]
Bookkeeper vs Accountant vs CPA vs Controller vs CFO
An average person may interchangeably use the different financial job roles like bookkeeper, accountant, financial controller, etc. mostly because of ignorance. The distinction between a bookkeeper, an accountant, a Certified Public Accountant (CPA) or a chartered accountant (CA), a controller and a CFO might not be substantial for the layperson, yet they are as different […]
Outsourcing Finance and Accounting Services – 2021 Guide
Finance and accounting are crucial business functions that require professional and expert handling. It involves effective management of revenue and expenditure enabling companies to control their business. For this very reason, finance and accounting are known as the backbone of any business. Though accounting involves recording and reporting financial transactions based on both present and […]
10 Reasons Why Successful Businesses Hire Bookkeepers and Accountants
Staying on top of finances is the primary reason for business success. Successful businesses are well aware that in order to grow financially and have smooth business operations they need professional bookkeepers and accountants to manage their finances. As business keeps growing, the number of customers, suppliers, employees, and other stakeholders also increases and it […]
Why 2021 Is the Year to Outsource Accounting
The year 2021 has so far seen mutant varieties of Covid-19 virus, second wave and third wave of the pandemic in many countries, and multiple lockdowns in most places. Every news is not so bleak and there is definitely light at the end of the tunnel. The vaccine is invented and the start-ups and businesses […]
Is Management Accounting a viable Outsourcing Option?
Finance is often termed as the lifeblood or foundation stone of business and it’s rightly so. Managing the financial activities of the business thus takes an indispensable role in its success. The terminologies in finance like management accounting, financial accounting, financial management, etc are in essence different, but they supplement each other. Let’s look in […]