Hybrid Accounting
12
Jul
Accounting and Bookkeeping, Blogs

Why Hybrid Accounting is the Best Choice for Small Businesses

Posted on by Najma Furqan

As an entrepreneur, you may want a cash basis in your accrual—the best of both worlds. Fortunately, this is possible because there is a third method of accounting called hybrid accounting. One of the main reasons many small businesses use hybrid accounting is to simplify their bookkeeping while still gaining insights from accrual accounting for larger transactions. For example, Jessica operates a juice business and also sells juicing equipment. She uses cash-based accounting for her retail sales at the juice bar,

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accounting-staff-shortage
10
Jul
Accounting, Blogs

Growing an Accounting Firm Amidst Staffing Shortages: Strategies for Success

Posted on by Najma Furqan

Are you, as an accounting firm, dealing with the increasing difficulty of finding enough staff? Hiring and keeping employees has become really hard, leading to a shortage of accountants across the industry. Several things are responsible for this issue. The accounting profession is growing quickly. Experts say the accounting market is set to expand at a combined annual growth rate (CAGR) of 6.4% through 2030 (Yahoo Finance). This growth is faster than the economy as a whole, meaning there’s more

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In-House vs. Outsourced Accounting
05
Jul
Accounting, Blogs

In-House vs. Outsourced Accounting: Making the Right Choice

Posted on by Najma Furqan

Making a choice between in-house versus outsourced accounting is crucial. It can make a big difference on the firm’s financial stability and operational efficiency. Small business communities stand to gain significantly from this discussion, particularly in the context of shifting to a WFH model for roles that can easily adapt to it. Accounting is a prime example of a role that can be effectively performed remotely. Like app developers, all accountants need is a computer and access to financial data,

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CFOs and controllers
01
Jul
Blogs, FP And A

CFOs and Controllers: Role, Responsibilities and Hiring Guide

Posted on by Najma Furqan

CFOs and controllers are senior accounting roles that drive a business’s finance function. In 2024, the finance function will become one of the most relevant parts of a business. Interest rates are soaring, and the economy seems primed for an inevitable upset. If businesses are not prepared, they may face catastrophic damage should the worst occur. It falls to the brave CFOs and Controllers out there to fortify the defenses in the face of the coming storm. Much like doctors

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Trade Promotions
24
Jun
Blogs, Consumer packaged Goods

How to Manage Trade Promotions: 5 Tips to Improve Sales and ROI

Posted on by Najma Furqan

How to Manage Trade Promotions: 5 Result-Driven Tips to Skyrocket Sales and ROI Effective trade promotions must deliver tangible outcomes to be truly effective. You might have had a good handle on your team’s trade promotion expenses last quarter, but do you know exactly what return on investment (ROI) those efforts brought in? According to Forrester, consumer packaged goods (CPG) brands spend over $500 billion annually on trade promotions. With such a hefty investment in these retail campaigns, there’s a big

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Benefits of Hiring a Fractional CFO
13
Jun
Blogs, FP And A

Top Benefits of Hiring a Fractional CFO for Your Business

Posted on by Najma Furqan

Have you ever thought of hiring a Fractional CFO for your small business? If you run a small business and can’t afford to pay high salaries for experienced CFOs, you still need someone crucial to guide your business to success and growth. So, Fractional CFO services may be the right answer for you! The fractional Chief Financial Officer is a skilled financial expert who can bring the right financial knowledge to your business without the high cost of a full-time

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Become a CFO
11
Jun
Accounting and Bookkeeping, Blogs

How to Become a CFO: The Ultimate Beginner’s Guide

Posted on by Najma Furqan

Many accounts dream of the day they can become a CFO. It is the height of the accounting profession, where you shape a business’ future and destiny with your own two hands. It is a prestigious role that only a few can achieve. Only accountants who have climbed the rocky hills of the accounting profession and reached the top can claim the Chief Financial Officer seat. The ultimate destination for an accountant’s career is becoming a CFO. We decided to

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Trade Promotion ROI
07
Jun
Accounting, Blogs

Optimizing Trade Promotion ROI Through Data Analytics

Posted on by Najma Furqan

Increasing costs and tough competition leaving your Trade Promotion Management ineffective? Discover data-driven solutions to boost ROI and conquer market challenges. In the dynamic landscape of consumer packaged goods (CPG), trade promotion is a pivotal strategy for driving sales and enhancing brand visibility. However, amidst the ever-evolving market dynamics, traditional approaches to trade promotions often fail to deliver the desired return on investment (ROI). This is where data analytics can lend a helping hand. In this blog post, we discuss:

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inventory management
05
Jun
Blogs, Inventory management

Top 10 Benefits of Inventory Management for Small Businesses

Posted on by Najma Furqan

Inventory management is a crucial part of business management. 2024 is shaping up to be one of the worst economic years of the decade so far. Interest rates are soaring through the roof and businesses are panicking, trying to find ways to control costs. Survival is the order of the day. Rather than growth, maintaining consistency and keeping positive cash flow are the number one goals. Good inventory management is key to achieving both. A well-crafter and managed inventory management

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Accounting Staff Augmentation
03
Jun
Blogs, Inventory management

10 Surprising Benefits of Accounting Staff Augmentation

Posted on by Najma Furqan

Accounting staff augmentation could be the key to success for your business. As an entrepreneur, you might understand how high-performing resources can add (immensely) to the company’s overall financial stability. According to Statista, 5% of startups failed in 2022 due to not having the right team. Having the right team at the right time can save a company from failing. In 2024, when the world is a global network, accounting staff augmentation can fuel your firm’s growth and avoid potential pitfalls.

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