Mandatory Secretarial Compliance Checklist for Indian Companies
The corporate ecosystem in India operates within a robust regulatory framework designed to ensure transparency, accountability, and governance. For multinational corporations (MNCs) with subsidiaries in India, navigating the country’s intricate compliance landscape is critical. Adherence to mandatory secretarial compliances not only safeguards organizations from legal and financial penalties but also reinforces stakeholder confidence. This detailed […]
Legal Requirements for CSR (Corporate Social Responsibility) Activities
Corporate Social Responsibility (CSR) has undergone a significant transformation in recent years. What was once considered a voluntary practice has now become an integral part of a company’s operations, particularly in India. This shift is largely attributed to the legal framework governing CSR, which is embedded within the Companies Act, 2013. Specifically, Section 135 of […]
10 Common Accounting Challenges Faced by MNCs in India & How to Overcome Them
As a Global VP of Finance in an MNC with a subsidiary in India, navigating the complex Indian accounting landscape can be daunting. From regulatory compliance to financial reporting, several challenges can impact your subsidiary’s financial health. Understanding these challenges is critical for ensuring smooth operations and maintaining financial transparency. This blog outlines the most […]
Debunking Common Misconceptions About Accounting Outsourcing Services
In the rapidly evolving business landscape, accounting outsourcing has emerged as a critical tool for companies striving to maintain competitive advantage. According to the latest research report, Business Process Outsourcing – Purpose, Market, and Future Scope (September 2023), accounting is among the top five business functions that are outsourced. The report reveals that 41.5% of […]
Efficient Reporting and Auditing: The Outsourcing Advantage
In today’s dynamic business environment, where agility and strategic foresight are pivotal, outsourcing back-office operations stands as a transformative strategy for companies aiming for efficiency and adaptability. With the business process outsourcing (BPO) market projected to reach a global value of USD 350 billion in 2023 and expected to increase to $450 billion by 2027, […]
Comprehensive Accounting Clean-Up: A Guide for Accountants and Accounting Leaders
The process of organizing and correcting financial records and transactions is referred to as the clean-up process. This is a key function in keeping books accurate and consistent. It also involves reviewing and reconciling accounts, identifying and resolving discrepancies, and updating information to reflect the correct status of the company. Businesses should keep a constant […]
The Outsourcing Advantage – How External Auditors Add Value To The Audit Process
If this is a new service for you or if you have been trying to streamline the process, here is some food for thought. Is auditing an integral part of your business? Is your audit process absolutely transparent? Will your team of auditors tell you the hard truth during tough times? If you have an […]
Top Accounting Challenges Small Businesses Face
According to a study by [APS], a staggering 82% of small businesses in India consider accounting a major challenge. This isn’t surprising – juggling finances, keeping accurate records, and complying with tax regulations can be a daunting task for any entrepreneur. But fear not! By understanding the common accounting pitfalls, you can equip yourself with […]
Client Apprehension About Language And Culture In Outsourcing
Outsourcing initially was restricted to the bigger companies. As times have changed and accounting firms realized the benefits that they can reap from partnering with them, outsourcing has become a popular business model. It is, now, a global trend. Besides their cost benefits, access to a global pool of talent, and better efficiency of the […]
Offshore Accounting: Resolving Employee Apprehensions and Managing Confidence
Businesses and corporations continuously strive to expand and stay ahead in diverse markets. Offshoring is a strategic move to enhance competitiveness and reduce production costs. However, offshoring critical functions like accounting can raise employee concerns. It is essential to address these concerns early to manage the process effectively and foster employee confidence. Understanding the Concerns […]