Auditing in Accounting: Here’s Everything Worth Knowing
In the world of accounting, where precision and transparency are paramount, auditing emerges as a critical process that ensures the accuracy and reliability of financial information. Auditing in accounting serves as a systematic examination of financial records, statements, and transactions to validate their integrity and compliance with established standards. It is not just a regulatory […]
Internal Controls and Accounting: Importance, Types and More
Imagine working in a bustling kitchen. Orders fly in, pans sizzling, and the aroma of delicious food fills the air. But what if there’s no one keeping track of ingredients? What if no one’s maintaining a hygiene check? Absolute CHAOS! That’s the importance of internal controls in accounting for businesses in India. The situation is […]
7 Common Accounts Payable Challenges + Solutions from Finsmart
The Accounts Payable (AP) department serves as the financial backbone of an organization, managing the crucial tasks of processing payments, maintaining vendor relationships, and ensuring financial accuracy. However, this integral function is not without its share of challenges. In this blog, Finsmart Accounting – an accounts outsourcing company – will delve into the intricacies of […]
Year End Tax Planning for Global Businesses: 10 Strategies and Tips
As the year calendar draws to close, a lot of businesses operating globally find themselves in a crucial juncture for strategic financial planning. Year-end tax planning strategies can significantly impact operations, allowing businesses to access the fiscal positions in front of competitors. Still, a lot of businesses operating on a global scale are not familiar […]
Accounting Software for MNCs: 5 Popular Recommendations
There is no dearth of accounting software that claim to support MNCs with core finance operations. However, it’s still hard for young multinational organizations to choose the right accounting software. Here are some questions that often trouble them: – What are the features to look into an MNC accounting software? – Which accounting software is […]
8 Tips to Choose Bookkeeping & Accounting Services for Small Businesses
For small businesses in India, every decision carries significant weight. Effective bookkeeping and accounting services form the bedrock upon which small businesses can build their financial stability, ensure compliance, and gain insights vital for growth. However, for many small business owners, navigating the space of financial management can be a daunting task. That’s why Finsmart […]
Accounting Firm for MNCs: What to Expect and More
Managing accounting can be a daunting task for MNCs operating in India. Given they have numerous responsibilities on their plate, they often find themselves struggling with this crucial function. And we all know what happens if accounting oopsies occur. Errors, penalties, and unforeseen challenges! So, what’s the solution? *Enter the concept of hiring outsourced accounting […]
FASB Accounting: Everything You Need to Know
The sea of accounting and financial management is endless. Every day, MNCs in India while navigating their business ship come across a plethora of accounting terms and regulations. However, one term that has spared heightened curiosity in many is FASB accounting. Questions around this have arisen a lot: – What is FASB accounting? – What […]