Financial Accounting, Finance & Compliance Services via Cloud Computing – The future of Financial Accounting & Finance Functions

Begin Cloud Computing Complete Controller

Financial Accounting, Finance & Compliance Services via Cloud Computing – The future of Financial Accounting & Finance Functions Preamble The rapid of globalization & advancement in technology which led to rise in internet-based applications, leading to emergence of a new concept of virtual cloud-based accounting. Financial Accounting which is an essential component of the framework that sustains any enterprise’s activity. The article focuses on throwing light on the concept of virtual cloud computing, cloud accounting, concept of outsourcing

Improving Financial Health Of Your Business

Improving Financial Health Of Your Business

Improving Financial Health Of Your Business As an entrepreneur one will come across various challenges in managing business, however financial aspects tops the list and rank most critical. One need to pay utmost care and attention in carefully planning and monitoring aspects which affects financial health of the business. There are steps to guide you in better management of your finances so you can see your dream to its end, without getting trapped in financial mess. 1. Understand the Key

RISK ANALYSIS

risk analysis in finance

Risk analysis is the process of assessing the likelihood of an adverse event occurring within the company.

INTERNAL FINANCIAL CONTROLS

Internal Financial Control

What are Internal Financial Controls? Internal financial controls mean policies and procedures adopted by the company for ensuring: Orderly and efficient conduct of its business, including adherence to the company’s policy and procedure,Safeguarding of company’s assets,Prevention and detection of malpractices, frauds and errors,Accuracy and completeness of accounting records andTimely compliance with various statutes andTimely preparation of books of accounts It includes policies and procedures adopted by the company for ensuring the orderly and efficient conduct of business, including regulatory compliance and prevention and

SOP- Financial Accounting

Financial Accounting Services

Business organizations today are very vast and complex. If keeping track of their daily activities itself is a challenge, managing their daily activities is an even greater challenge. Numerous transactions happen, new clients are acquired, additional engagements with existing clients are commenced, contracts are renewed/terminated as well as payments are received and made, on a daily basis. A large number of employees – having diverse character, age experience, etc.- join; employees leave, take casual leaves and change roles every day.

CRM – A Financial Accounting Perspective

Client

As the old verse goes, “make new friends, but keep the old. One is silver while the other is gold”. It is well recognized that this applies to the business domain as good as it applies to the personal domain. And, Financial Accounting Outsourcing (FAO) industry is no exception. Perhaps, it is more relevant in such domains which are highly competitive and where the life time value of one single client can potentially have significant influence on the value created

Global perspective – Evaluation of FAO Partner

FAO

Handling accounting and finance is a key function for any business organisation, at all times. Unless your company is operating in the Finance domain, you are likely to find it difficult to handle the nitty-gritty of accounting and finance. Many companies prefer to outsource their financial accounting tasks to professional organisations offering such services rather than setting up internal teams. The company to which one company outsources its financial accounting operations is called that company’s Finance and Accounting Outsourcing (FAO) partner. There is

Emerging Role of CFOs

CFO 1

div { text-align: justify; } As the role of most other corporate positions have changed and evolved with the passage of time and changing business environment, the CFO role has changed and evolved too. Traditionally, the CFO was considered as the ‘head bookkeeper’ of the organization, who was responsible for collation of data, preparation of reports and handing them over to the CEO. However, that is not the case anymore. The Chief Financial Officer (CFO) is now regarded to be almost

In-house Vs Outsourced Accounting

“If you deprive yourself of outsourcing and your competitors do not, you are putting yourself out of business.” – Lee Kuan Yew Rapid globalization, technology advancements and the availability of quality manpower have driven the growth of Financial Accounting Outsourcing (FAO) industry; today, it is well-established and matured. The advantages of FAO have far outgrown cost arbitrage and improved efficiency now, to encompass agility and strategic advantage among others. However, the critical decision of whether to outsource the F & A function or