Payroll Data Security: 10 Must-Haves From Top Accounting Firms
Do you know the average cost of a data breach was $4.45 million in 2023? Everyday use of software, smart devices, and work technologies during business operations acts as a gateway for cyber attackers and increases the risk of data breaches. With the increasing number of data breaches and cyberattacks, securing payroll data has become […]
Paytm Compliance Fiasco: RBI Notice, Financial Issues, and Tips for Businesses
In the past week, a lot has been written about the Paytm-RBI issue, and the virtual bank’s compliance challenges. Since there’s a lot of noise around this case, we are here to break it down. On January 31st, the Reserve Bank of India ordered Paytm Payments Banks, a restricted bank and subsidiary of Paytm to […]
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 […]
Choosing Payroll Services for MNCs: 9 Key Considerations
For MNCs, managing payroll in India is no small feat. The intricacies of international regulations, varying tax codes, and diverse employee structures make payroll a potential minefield. A single error in the process can result in severe penalties, erode employees’ trust, and even hinder the overall financial health of the organisation. *Enters global payroll services* […]
How to Maximize Tax Deductions in 2024: Expert Advice, Pro Tips and Strategies
Paying taxes in a timely and efficient manner is becoming increasingly important for businesses of all sizes in India. To minimize your liability during tax filing, it’s critical to be aware of deductions and rebates sanctioned by the government. As we approach the tax season 2024, new businesses and individuals are eager to discover ways […]
Outsourced Restaurant Accounting: Benefits, Hiring Tips, and More
Success of a restaurant hinges on more than just the quality of the food and service. The tracking of revenue, expenses, payroll, taxes, and endless accounting paperwork becomes a daunting task for restaurant managers while simultaneously striving to provide an exceptional dining experience. This is where Finsmart’s outsourced accounting services can prove to be a […]
Cultural Intelligence for Accounting Firms: How to Get Started and Lead
Cultural intelligence (CQ) has emerged as a crucial competency for effective leadership, enabling individuals to lead with awareness, sensitivity, and adaptability. No wonder, accounting firms and CAs across the globe want to make it part of their corporate dynamics. In this interconnected world, diversity is not just a buzzword, and leadership skills are no longer […]
Accountant Work Life Balance: 10 Wellbeing Tips and Recommendations
In the fast-paced world of accounting where financial reports, bookkeeping, and data analysis demand precision, maintaining a healthy work-life balance can be a challenging feat. Accountants often find themselves immersed in deadlines, complex calculations, and the ever-evolving landscape of financial regulations. Striking the right balance between professional responsibilities and personal well-being is essential for sustained […]
ESG Accounting: Everything You Need to Know
Environmental, Social, and Governance (ESG) accounting has emerged as a critical framework within the realm of corporate responsibility, reshaping the landscape of financial reporting. As businesses increasingly recognize the profound impact of their operations on the planet, society, and corporate governance, the integration of ESG considerations into accounting practices has become imperative. That’s why Finsmart […]
How to Analyse Income Statement: Tips and Recommendations
In the intricate world of finance, mastering the art of interpreting financial statements is a crucial skill for investors, analysts, and business leaders alike. Among the trio of financial statements (including the balance sheet and cash flow statement), the income statement is a dynamic snapshot of a company’s performance over a specific period. Analyzing this […]