The Evolution Of Frauds In Accounting
Generative AI has taken the world by storm. But it is not all that advantageous, there are many downsides to AI. Every one in 4 organizations restricts their users from using AI. And there are reasons, especially in the accounting industry. However, restricting the use of AI has very little to do with the ability […]
Outsourcing Takes Control Over Internal Processes – Breaking The Apprehension For Accounting Firms
Think about it for a minute. The global pandemic of Covid-19 forced all industries, including accounting, to choose a remote model for their workforce. Was losing internal control a reason for worry for you then? It wasn’t. When you have outsourced a certain set of tasks to a team of professionals, that shouldn’t raise a […]
How Does Outsourcing Finance And Accounting Help CFO’s?
\The success of an organization’s finance department relies heavily on the Chief Financial Officer’s (CFO) ability to manage business finance operations effectively. To ensure this, the CFO must be supported by a capable and experienced team. As the leader of a growing business, the CFO faces numerous challenges, including managing the company’s financial health, overseeing […]
Debunking Myths About Ethics In Accounting
Ethics in accounting encompasses several aspects and perspectives. Generally, by accounting ethics we understand the integrity of financial reporting or ensure we don’t fall into a fraud trap. However, the scope of ethical accounting exceeds that. Embracing ethical principles in accounting can potentially change an accounting firm’s face value. It’s more about building a culture […]
The Top 5 Accounting Challenges of International Expansion in India
The Indian market, with its booming economy and vast potential, beckons businesses worldwide. However, venturing into this exciting new territory comes with its own set of hurdles, especially in the realm of accounting. Understanding and navigating the complexities of Indian accounting practices is crucial for a smooth and successful expansion The Indian market offers a […]
From Compliance To Strategy – Redefining Accounting With Outsourcing
Accounting has always been viewed as a compliance-driven field. Its primary function is to ensure that the financial records are accurate and that firms adhere to the regulatory requirements. In business operations, regulatory compliance presents a significant challenge. The business landscape is changing. It is influenced by technological advancements, globalization, and a shift in business […]
Is ‘Offshore Accounting Services’ a Good Idea for My CPA Firm?
In recent years, India has become a major hub for offshore accounting services. Many CPA and accounting firms in Europe, the US, and other countries outsource their accounting and bookkeeping work to India. Evidently, India is the future of Offshore Accounting due to factors like its ability to adapt quickly to the changing requirements of […]
Win in India: MNCs Tackling Indian Market Hurdles & Solution
India, with its vast population, growing economy, and dynamic market landscape, presents a lucrative opportunity for multinational corporations (MNCs) seeking expansion. However, entering and succeeding in the Indian market comes with its unique set of challenges. From regulatory complexities to cultural diversity and infrastructure constraints, MNCs encounter hurdles that demand strategic solutions. Moreover, navigating […]
Late Hours for Accountants: The Industry Reality
The number of accountants, globally, has been significantly decreasing since 2020. While the pandemic played a significant role in the reduction of the number, many other factors equally contributed to it. In the 2023 PWC Annual Accounting and Tax Symposium, several factors were held responsible. They include: – For the modern-day accountants, the 150-hour requirement […]
Why It’s Time to Integrate Social Value in Your Accounting Practice?
Accounting is no longer about merely crunching numbers. As the world continues to change and we all have a responsibility towards the environment and the social impact that we make, the way accounting firms operate has undergone a massive change. The practice of quantifying how companies’ operations impact the environment, people, and overall economy, began […]