6 Accounting and Corporate Frauds Everyone Should Watch Out For
Over the past decades, numerous high-profile scandals have sent shockwaves through the global economy, eroding investor trust, and exposing vulnerabilities within regulatory frameworks. While big accounting frauds are widely talked about, accounting frauds and corporate deceits of small degree often go unchecked. That’s why Finsmart Accounting – one of the leading accounting outsourcing companies in […]
7 Emerging Trends in Accounting and Bookkeeping: 2023 List
Over the last couple of decades, accounting practices have evolved a lot to meet client expectations and business needs. New bookkeeping challenges, industry trends, and technology advancements have also revolutionised the way we manage business books. The pandemic accelerated the adoption of technology in accounting and bookkeeping in its own right. In short, many accounting […]
7 Accounting KPIs for Measuring Financial Success
In the world of finance, measuring accounting success is of major importance for businesses and new accountants alike. However, many are unaware of specific Key Performance Indicators (KPIs) that can significantly aid in this endeavour. Finsmart – trusted globally for outsourced accounting services – believes that understanding and utilizing these metrics can pave the way for better […]
Audit Preparation Checklist: Useful Tips to Ensure Smooth Financial Review
Audits play a critical role in ensuring transparency and accuracy when it comes to financial management. As businesses grow and become more complex, the intricacies associated with audits also increase. This makes meticulous audit preparation crucial. Many have experienced the daunting challenges that accompany audit preparations while navigating through intricate financial data and compliance requirements. […]
Cash Flow Forecasting: Everything You Need to Know
Managing cash flow is indeed the lifeblood of any successful business. However, without proper cash management, even the most promising companies can quickly find themselves struggling to stay afloat. This is where cash flow forecasting comes into play. Cash flow forecasting allows businesses to predict and plan for future financial success. By simulating different scenarios and analyzing […]
Foreign Remittance Update on Tax Collection at Source: News by Finsmart
In light of recent updates surrounding Tax Collection at Source (TCS) and the confusion surrounding the implementation of a new clause from 1st October 2023, we aim to provide you with a comprehensive overview. The government’s latest notification regarding TCS, which was planned to go-live on 1st July, has raised numerous queries among taxpayers. It […]
Strategies for Streamlined Accounts Receivable in India: Collecting with Confidence
Efficient management of accounts receivable is crucial for businesses in India to maintain a healthy cash flow and ensure financial stability. In a dynamic business environment, businesses need to adopt expert insights and strategies to streamline their accounts receivable processes. This article by Finsmart Accounting – globally trusted for outsourced accounting and payroll services – […]
Cloud-Based Accounting: Empowering Indian Businesses with Seamless Financial Management
In today’s digital age, cloud-based accounting has emerged as a powerful tool for Indian businesses, providing them with seamless financial management capabilities. With the rapid advancements in technology, cloud-based accounting solutions like Zoho and Tally have revolutionized the way businesses handle their financial operations. This article by Finsmart Accounting – trusted in India for outsourced […]
Navigating Outsourcing Accounts Payable and Receivable – Checklist for Businesses
Outsourcing accounts receivable and accounts payable services has become a popular trend among businesses in India. By outsourcing these services to a third-party provider, businesses can focus on their core competencies and free up their internal resources. Outsourcing AR/AP services also helps businesses reduce costs, increase efficiency, and improve cash flow management. In addition, outsourcing […]
Accounting for Service-Based Businesses: Key Considerations
From the Indian government’s perspective, service-based companies refer to businesses that provide services as their primary source of revenue. This can include a wide range of industries such as IT services, consulting, healthcare, hospitality, education, salon, and more. The government has recognized the importance of service-based industries in driving economic growth and has implemented policies […]