Profitability in the accounting genre is a residual – the income left after deducting all the expenses – which all profit-making entities, including the CPA firms, strive to achieve. However, in 2024, the fast and everchanging variables that affect it need to be considered, labor shortage and inflation being atop the list, stressing out the
The contemporary business environment has witnessed a drastic shift in the way we work. And even though remote work is not a novel concept, there was a massive transition from on-site to remote working during the pandemic. However, even as the dust has significantly settled and the social distancing measures relaxed, the tendency among the
The corporate industry has evolved tremendously throughout the years. Back then, all an accounting firm needed to get started was accountants just like an IT enterprise needed IT executives. However, with the advent of the internet and advancing business strategies, the corporate culture is now more competitive than ever. As of today, starting entrepreneurs need
Companies have historically pursued product differentiation and reducing costs amid high inflation as strategies to gain competitive success. Aneel Karnani conducted a research study in 1984 titled Generic Competitive Strategies—An Analytical Approach and found that a superior cost or differentiation position leads to a larger market share and, hence, higher profitability. The Prevailing Inflationary Spell
Accounting is often regarded as the “language of business”. It is a track record of expenses, investments, assets, and profits or debts of an enterprise. Accounting for start-up businesses aims to provide you with information about your enterprise to help you make well-informed decisions, run your business efficiently, maximize profits and reduce costs. Well-versed accountants
Introduction A routine workday is quite imperfect without a cup of coffee. Whether you are an owner of a company or a C-suite struggling with accounting and numbers, a cup of coffee remains the much-needed serotonin for a healthier, optimistic, and fulfilling day. We, at Expertise Accelerated, believe that work breaks are synonyms for a
Can outsourced accounting lead businesses to manage their finances effortlessly? Can it free up their valuable time and resources for growth? Let us find out Outsourcing has evolved to become a mainstream business practice that companies worldwide are leveraging as a means and method to achieve cost and process efficiencies. As the outsourcing industry booms
Outsourcing & co-sourcing Outsourcing – as well as its sister variant co-sourcing or staff augmentation as it may alternatively be referred to – are not so new as concepts but ever-growing in popularity as methods to reduce cost and gain efficiencies amid the intensely competitive market conditions in contemporary times, especially after the outbreak of
The 2020s have not been kind to the global economy, with various geo-political situations and the COVID-19 pandemic resulting in the closure of thousands, if not millions, of businesses worldwide. Amid cutthroat competition in a financially uncertain and economically volatile environment, businesses today are forced to make many difficult choices. In a prior publication titled
Amid the ongoing pandemic times, remote working has increased to levels never seen before. Effectively, remote working is the new normal that should be embraced for some of its obvious advantages of giving access to a global talent pool which offers quality resources at affordable costs, availability of workforce in varying time zones, flexible teams and limited legal exposure on labor laws. Co-sourcing and outsourcing are ways to gain the advantages associated with remote working.