Mastering the Art of Costing: Understanding the Different Techniques and Their Benefits
Costing is a vital aspect of any business as it helps in determining the cost of producing goods and services. It is essential for businesses to understand how much it costs to produce a product or provide a service so that they can price it correctly and make a profit. In this blog, we will […]
Navigating the Digital Landscape: The Future of Accounting
Digital technology has revolutionized the way we live, work and do business. In the accounting field, the rise of digital tools and platforms has led to the emergence of digital accounting. This new way of managing financial transactions and record-keeping is quickly becoming the preferred method for businesses of all sizes. In this blog post, […]
The Future of Accounting: How Digitalisation Is Changing The Game
The accounting industry is undergoing a digital transformation as it adopts new technologies and software to improve efficiency, accuracy, and customer service. With the help of technology, companies can automate processes and reduce the amount of time involved with bookkeeping tasks. This leads to improvements in customer service and transparency for businesses as well as […]
What can be expected from the Future Of Accountancy
As economic conditions continue to change, so does the nature of work and operations of the companies. In order for accountancy to remain relevant and occupy top tier of accounting occupations across the globe, it must adapt the changing needs and circumstances. Accountancy is a very volatile field. The skills required to be a future […]
The Changing Role Of The CFO
The Chief Financial Officer (CFO) role has undergone significant changes in recent years, with a shift from a primarily financial reporting and compliance-focused role to a strategic and operational role involving much more than just managing the finances of a company. Traditionally, the CFO was responsible for managing a company’s financial operations, including preparing financial […]
What Is The Concept Of The Virtual CFO?
The concept of virtual CFO, or virtual Chief Financial Officer, refers to the use of technology and remote work to provide financial expertise and guidance to businesses without the need for a full-time, in-house CFO. In this role, the virtual CFO acts as an external consultant or advisor, offering financial advice and support to the […]
What Is Accounts Receivables
Accounts receivables refers to the amount of money that a company is owed by its customers for goods or services that have been delivered but not yet paid for. This is a current asset on a company’s balance sheet, as it represents money that the company expects to receive in the short term. Companies often […]
Revenue Recognition – An Important component of Financials
Revenue recognition refers to the process of recognizing revenues when a product or service is delivered. It refers to the financial transaction between an entity (who sells products or services) and its customer. In business, both sales and revenue are often confused. But there is a difference, and it can have a big impact on […]
Cost of Goods Sold – Components and Significance
Cost of goods sold (COGS) is a company’s direct costs associated with the production of goods or services. It includes the cost of raw materials, direct labor, and manufacturing overhead costs. COGS is typically calculated on a per-unit basis and is then used to determine the gross margin. This is the difference between the selling […]
Cash Flow Projections – A Critical Tool
Cash flow projections are a critical tool for businesses of all sizes, as they help to anticipate and manage the inflow and outflow of cash over a specific period of time. By forecasting cash flows, businesses can make informed decisions about financing, expansion, and other investments that may impact their financial health and stability. In […]