Most decisions in a small business are often driven by the budget or additional money available to invest in the business. Hiring resources is no exception, and the decision to hire a CFO may be deferred on the grounds that it could be too expensive for a small business. However, not having access to a

A CFO’s role is that of a change agent who brings together the capabilities and resources of the business to ensure accountability in areas like performance, operations, etc. A second responsibility that rests with the CFO is that of the agent who brings together key data and information, including strategic plans with the help of

Digital tax workflows will be the norm more than the exception going forward. Businesses that do not capitalize on technology for their accounting risk becoming obsolete for potential clients, particularly those who conduct business primarily in the cloud or in a virtual set-up. Additionally, switching to digital accounting methods not only allows better alignment with

When it comes to increasing efficiency in accounting, technology-driven audits have an advantage in the way they provide deeper insights into the data gathered. According to studies conducted by KPMG where controllers were surveyed, more than 70% of the total number interviewed felt that technology-driven audits provide insights that allow them to conduct a comparative

Avoiding hotel accounting and bookkeeping errors is as much a function of practicing diligence and consistency as it is about competent, even-keeled staff managing it. While no business can claim to have 100% error-free accounting, working to prevent errors from happening is critical. It is also more cost-effective to prevent mistakes from happening in the

Accounting needs for hotels differ from general business accounting in a few ways, mostly dictated by the fact that guest satisfaction forms a huge part of hotel operations. Almost every aspect of a hotel business has an element of client interaction woven into it. Whether it is about managing accommodations, food and beverages, or housekeeping

Accounting systems integration can help accounting software perform optimally such that firm operations are streamlined to increase efficiency and profitability. Here are a few ways in which accounting systems integrations can help CPA firms prepare tax returns better and more effectively by taking over detail-oriented tasks, freeing up firm resources and professionals for the more

Tax time can be all-consuming, in terms of time and attention, when it comes to business accounting and bookkeeping. This is true even for CPA firms that perform accounting and bookkeeping functions for their clients. Ironically, this is one of the compelling reasons that a CPA firm can use outsourcing help: to ease pressure they

Accounting and bookkeeping are core, critical functions for any business, regardless of the industry. They are also time-intensive functions that require attention to detail if the results are to be dependable. Most of the time, however, the accounting and bookkeeping is taken care of by the founders or owners of the hotel. This practice may

CPA firms in a growth phase face numerous challenges such as new business development, service line expansion, manpower shortages, and infrastructure scalability. Although growth is exciting, it can be fraught with trials, including budget constraints. One solution for addressing many of these challenges is identifying a strategic partner who can provide assistance with these issues.