What is an Audit? In a nutshell, an audit is an official inspection of a business’s operations, processes, or financial records. There are two types of audits, namely internal and external. While both share similarities in how they are approached and conducted, they are quite different in terms of their objectives, scope, methodologies, and outcomes.
When first venturing into the business world, entrepreneurs must make some tough decisions. One such decision that greatly impacts the future of the business is deciding what accounting method to adopt. In the business world, there are two accepted methods of accounting available to businesses. These are accrual-based accounting and cash-based accounting. What Is Accrual
In 2024, a start-up’s success depends on the marketing strategies its owners implement to attract an industry-relevant audience to their firm and its service portfolio. Marketing for accountants loosely refers to the strategies and resources that accounting practitioners and accounting firms use for consistently landing high-quality leads. An experienced team of accountants, deeply familiar with
Accounting over the years has experienced tremendous evolution. To the layman, the services an accountant can provide may seem limited to bookkeeping, mundane data management, and paper filing. This could not be further from the truth. But, the fact is that accountants today are qualified professionals capable of undertaking a range of complex roles, including
Every business has to address the need of reducing operating costs. Many business owners have wrestled with this problem to figure out a workable solution. However, this is easier said than done. Small incremental steps can help business owners reduce operating cost. The following ten simple tips can serve as useful building blocks for operating
Innovation in the 21st century is at an all-time high. One simple look around us speaks volumes to the progress humanity has made in the last two decades. With technological advancement embedded into every facet of life, the accounting profession is no exemption. Accounting has undergone a drastic change over the past decade, thanks to
Staff augmentation is the process of augmenting a company’s workforce using manhours and/or expertise hired from third-party service providers and its use has increased in the post-COVID-19 era. Staff augmentation can help US companies gain competitiveness amid growing inflation and labor market crunch. Expertise Accelerated (EA) leverages high-quality staff augmentation solutions to deliver quality-assured 60
Bookkeepers are a necessity for any business today, and prudent business owners consider hiring one when their company reaches a certain size. There are a host of benefits to hiring a bookkeeper, but it can be difficult to know exactly what kind of person and service you should be looking for. These 5 fundamental questions
With the advent of technology, business practices have changed significantly. Today, even a small business can have employees worldwide, all working as a well-oiled machine. To somebody from just 20 years ago, this would be a life-changing revelation. This ability to have talent from all around the world pitch into your business is exactly what
Remote work and remote staffing are not novel concepts – not at least in the United States that represents a centuries-long history of multi-ethnic struggle to build an economic and technological infrastructure that remains unprecedented and unwitnessed to date. What Is Remote Work? According to Gartner, remote work, which is also referred to as work