In any business alike, a chief financial officer has a predominant role. The responsibilities of a chief financial officer, also known as a CFO, are not petty ones as his or her decision brings about a tremendous impact on the company. Here, we will present extensive details of a finance officer’s responsibilities.
Accounting services are always going to be something that small (and even medium to large) business owners need to consider. When you reach a certain level of success, you’ll need other individuals to help handle the financial tracking of your endeavours.
For any organization to succeed, it will need proper documentation from the beginning of its operations. Whether you outsource this service or have an in-house accountant, a good accounting cycle gives you a clear understanding of crucial financial matters.
Learning how long to keep business records will allow you to perform you work duties without any worry. Understanding how to keep business tax records will not only improve upon your tax returns, but it will help you build a stable financial environment for your business to base itself upon.
When most people come across the word bookkeeping, they won’t be able to provide any concrete answer as to what it is. So, what is bookkeeping?
The primary distinction when pairing treasurer vs. controller is in the role itself. Financial controllers head the accounting department, in a way, since they supervise the accountants and manage the books of the company. They make sure that the financial reports are done properly and are timely for the management’s review.
Every business is different in respect to its business strategy and goals. We, as an outsourced accounting company, can see what outsourcing can do to support a business, but we can also realize there are some situations where an outsourced business model is not a good choice. Outsourcing is not a one-size-fits-all solution.
General accounting helps deliver essential information so business professionals can make wise economic decisions. In a business, the two types of reports prepared are management and financial, which are both essential in their own way. But for those who don’t know much about the specifics of accounting, what’s the difference?
You’ve decided that outsourcing your accounting was in the company’s best interest and have built an offshore team. But what happens now?
Although its actual implementation has been delayed to 2018, buying us all another year to study it in full, the new IFRS 15 revenue standard is something you should be making yourself aware of sooner rather than later.