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.
Meticulous accounting of revenues and expenses as well as proper management of finances are crucial activities for any business organization
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.
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.
Finance is the backbone of any organization in the world. Almost all the organizations in the world work for profits.
Organizations have become very large and complicated these days. It isn’t like it was a century back, when the founder of the organizations used to take all the important business decisions of the organizations and when the founder alone handled most of the tasks of the organizations.