Can a better Accounts Receivable management Strategy help Optimize Working Capital?

Whether it be paying off short-term debt, scaling, or ensuring smooth operations even during a pandemic, working capital is one of the central pillars that can make or break an organization. However, many organizations fail to realize the amount of cash that is trapped in their balance sheets, which puts them at risk of insolvency, […]

Key Performance Indicators (KPIs) – Finance and Accounting professionals Need to Keep in Mind

It is essential for business objectives to be communicated and understood across the firm.  This ensures that personnel are aware of and responsible for their own KPIs, giving priority to overarching goals. KPIs help in placing objectives at the forefront of decision making.  In addition, KPIs help in assessing how well the firm is doing […]

Outsourcing Accounting Services for CPA Firms – An Effective Way to Manage Bookkeeping

The taxation process today is constantly changing with recruiting and retaining personnel evolving simultaneously. The industry has grown to be fiercely competitive. In such scenarios, CPA firms are often overworked having to juggle several roles. So, it is imperative to work smarter to survive. There is a need to improve operational efficiency and productivity while […]

Client Accounting Services (CAS) – The Future of CPA firms

Traditional accounting involved a single accountant with a range of expertise. This included after-the-fact financial statement preparation; processing transactions, AP, AR, and bookkeeping, bill payments; ensuring payroll and tax compliance; reviewing financial performance and providing strategic input on improving the business. With the increasing volume of work and growing complexity, it is becoming necessary to […]

Are You Reporting Everything You Need to Build Trust and Long-term Value?

The corporate ecosystem today needs transparency to thrive. This is a mandatory requisite for building trust and revealing how long-term value is being created. Organizations should leverage the data available on hand and transform it into a vital asset. In an EY global corporate reporting survey, only 58% of finance leaders said they felt the […]

Determining Profit Margins on Client Accounting Services

The world of accounting is evolving at a frenzied pace. Research shows that accounting, tax preparation, bookkeeping and payroll services (NAICS code 5412) was the most profitable small business industry in 2017, as measured by a pre-tax net profit margin of 18.4%, over double the average US private company net profit margin of 8.9%.  If […]

The Impact of Technology on Accounting and Taxation

Until now, CPA firms were structured for reliability and efficiency, independent of revenue generated. With fierce competition, changing expectations, and a digital landscape, it is imperative to adopt an evolved approach to survive and thrive.  Accelerating time to business value is what will set an accounting firm apart from others. This requires an infrastructure capable […]

What are the advantages of outsourcing accounting services?

The financial landscape has changed significantly from the last few years. Legislations are much more stringent making governmental compliance and maintenance of transparency mandatory.  The digital landscape has also evolved considerably resulting in fierce competition, increasing the pressure on CPA firms. They now need to deliver a wide spectrum of services, consistently, at reasonable rates […]

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