Accounting in Logistics Companies: How to Works, Differs, and Expert Tips
In the fast-paced space of the logistics industry, where products are constantly on the move, managing finances effectively is paramount. Accounting isn’t just about balancing the books, it also includes optimizing operations, reducing costs, and boosting profitability in this unpredictable economy. On that note, Finsmart Accounting – one of the best-outsourced accounting services providers in […]
Accounting in Education: How it Works, Differs, and Expert Industry Tips
Education as an industry has never been flourishing as much as it is now. From bustling schools to booming universities, knowledge has become a major growth industry globally. But just like any successful business, even educational institutions need to keep a watchful eye on their finances. That’s where education accounting comes in! You might be […]
ESOP Accounting: Meaning, Considerations, and More
Attracting top talent and retaining them is an important ingredient of successful modern businesses. But how exactly can this be achieved? While there are many time-tested ways to do this, let us introduce you to the Employee Stock Ownership Plan (ESOP). Employee Stock Ownership Plans (ESOPs) are important mechanisms for hyper-competitive private companies to incentivize […]
Hospitality Accounting: How Does It Work, Differ, and Expert Industry Tips
When it comes to accounting, most of us think of giant tech firms in India, crunching numbers. But financial tracking isn’t reserved for a select few industries. Just like oxygen is to human beings, it is essential for everyone – from fashion houses to medical practitioners. Today, we’re diving deep into the world of hospitality […]
Accounting for Insurance Companies: How it Works, Differs, and Expert Tips
Insurance companies have a paramount importance in the modern economy as they provide monetary protection against various unseen risks and losses. Their operations are intricately tied to accounting principles, which guarantee transparency, accuracy, and accountability in their financial reporting. However, accounting processes for the insurance industry differ greatly. That’s why Finsmart Accounting – a leading […]
8 Common Financial Mistakes And Money Errors Made by Startups
Most startups face a lot of financial management challenges in their journey to success. While staying attuned to market dynamics, and embracing sound financial principles help startups enhance their chances of achieving long-term success, very few can dodge common financial mistakes. In this blog, Finsmart Accounting – one of the leading accounts outsourcing services providers […]
Incremental Budgeting: Everything You Need to Know
In the last decade, incremental budgeting has emerged as a dynamic strategy that enables businesses to adapt to changing circumstances while maintaining financial stability. Today, we will delve deep to gain a broader perspective on financial planning. In this comprehensive guide, Finsmart Accounting – one of the leading accounts outsourcing services providers in India – […]
Dematerialisation of securities of Private Limited Companies
Recently, by way of a notification dated 27 October 2023 (Amendment), the Ministry of Corporate Affairs (MCA) amended the Companies (Prospectus and Allotment of Securities) Rules, 2014 (PAS Rules), inserting a new rule[1], to require every private company (other than small company and government company) (Private Company) to dematerialise all its securities, issue securities only […]
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 […]