E-Commerce Accounting: How it Works, Differs, and Expert Industry Tips
According to Statista, global online sales reached a whopping 5.8 trillion US dollars in 2023. This number is expected to surge by 39% in just a few years. While more and more businesses in India are setting up shops online, there’s a crucial aspect that’s often not talked about much. It can’t simply be ignored […]
Outsourced Accounting for Government Contractors: 8 Insights and Strategies
In the world of government contracting, there are countless rules and compliance requirements. You have to navigate a complex maze of accounting for government contractors. Government contracting, indeed, has a complex landscape where finances should be accurately managed to meet regulatory standards while supporting operational goals. Outsourcing accounting services can offer a strategic advantage for […]
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 […]
8 Income Taxation Problems Faced by Businesses in India
Running a business in India is nothing less than a roller coaster ride. But things can get not-so-fun when entrepreneurs reach the income tax curve. Entrepreneurs, especially young ones, are unaware of the hidden complexities within the Indian taxation system and often feel confused when the time to file income tax returns comes around. So, […]
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 […]
10 CFO Skills to Confirm Before Making a Hiring Call
Bringing diverse financial expertise, strategic thinking, leadership abilities, and effective communication skills are some of the key aspects that make a CFO great. These are key to driving the financial success of an organization. But there is more to it. Since Chief Financial Officers are critical for growth, it is important to make sure they […]
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 […]