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  In countries like India, there are various start-ups and established businesses striving to manage their financial operations. Companies must perform accounting operations to keep a record of their daily transactions. These operations are carried out to identify the financial position of a business. Accounting involves the collection, analysis, classification, verification, interpretation and presentation of financial information.    Specifically, it is a branch of accounting which deals with financial transactions for any types of businesses. Furthermore, it is beneficial to outsource these operations for your business.  Several firms provide services in  corporate accounting in India . Outsourcing not only helps save your money but also offers a team of trained professionals straight out of the industry.     What Is Corporate Accounting?    Corporate accounting  deals with preparing cash flow statements, financial records, balan...

  If you look at the history of accounting, it is as old as the first civilization. Accounting is the process of identifying, measuring, recording and communicating information that is capable of being expressed in terms of money. In today’s thriving business world, cost and management accounting is a form of accounting that aims to maximize profit by managing revenues and expenses.    Nowadays, businesses instead of hiring new employees, contract with an external party to take care of their accounting tasks. Outsourcing is a popular way for businesses to lower overall costing and streamline various operations.   Cost management accounting  is a form of accounting that aims to improve a company’s profitability by managing, controlling and eliminating expenses. It provides data and reports to formulate strategies for long-term profit and growth of the business.    There are several outsourcing  cost and management accounting  service providers...

  To bring efficiency and ease into your business operations, you plan on outsourcing services. Recently, India is turning out to be a hub of accounting outsourcing services for other developed nations across the globe.    As the world is changing, the global accounting market is becoming competitive. Companies are, therefore, looking for outsourcing professional accounting services. To compete with the top companies, you have to walk an extra mile with everything. Here’s where outsourcing comes in picture. To take away the excessive burden of managing your finances, hiring  management accounting services  in India is the right thing to do.    Consulting firms hire two diverse types of accountants: one management accountant and one financial accountant. The main difference between the two is, financial accounting is the collection of accounting data to create financial statements, while management is the internal processing used to account for business...

  Start-ups or small businesses often face difficulty to track financially in and outs. It can lead to dangerous situations such as low cash flow or bankruptcy. Your company needs an accurate finance management system to make crucial decisions and control the company’s budget. Accounting is essential to keep the finances in check of any business. Let's learn more about financial accounting and their advantages to businesses across India.     What Is  Financial Accounting ?    Accounting refers to the systematic and detailed recording of financial transactions of a business. It is the process of preparing financial statements that showcase the performance and position of the company to its investors, creditors, suppliers and customers. This information is used to make informed decisions regarding business and trade.    It involves tasks such as recording, summarizing and reporting the stream of transactions and economic activity resulting from...

  Accounting is an ocean of opportunities. There are various roles and positions in this sector that can connect you with the world globally. One such opportunistic step is to become a certified management accountant (CMA). People sometimes are unknown to this certification. On the other hand, some think it is incredibly difficult to become CMA. But the truth is, it is all worth the time.  What Are Certified Management Accountants (CMAs)?  Certified management accountant (CMA) is a designation that employs expertise in financial accounting and strategic management fields. This certification signifies that a person has knowledge in the areas of financial planning, control and analysis, decision-making and other relevant areas of management.  The professionals who acquire this designation are colloquially known as CMAs and are trained to fulfil a variety of roles in the accounting department. CMA is a globally recognized certification offered by the Institute of Manage...

Bookkeeping and accounting are the two crucial processes to enhance business growth. Whether it’s a start-up or an established business, keeping track of finances is an essential part of the big picture. Many think that they both are the same. Accounting covers a much broader scope than bookkeeping, which is a subset of accounting. What is bookkeeping in accounting ? Bookkeeping takes care of the financial transactions of your business. It is the process of recording transactions and information about the business. The process mainly involves preparing financial statements, managing labour cost, filing invoices and expenses.  Accounting is the process of tracking income and expenses. It involves the process of recording, analyzing and reporting all the transactions. It can cover aspects as vital as designing book-keeping systems, establishing controls to maintain and operate the system and analyzing any data too.   Further, carrying out these tasks in-house can be a has...