In this blog we try to explain the processes involved for the accounting outsourcing services.
The service and process is simple and secure – our Accountant clients here in AU set up a separate standard computer in the office and it is accessed remotely using a secure connection by a team member in India. The security aspects we will discus in a separate blog on a later date.
Accounting is an art and science dealing with Numbers, which have monetary value. Numbers or Financial Data are recorded in a chronological order, and the beauty of Accounting is presenting the data in a systematic layout and form that is meaningful and useful to the business management.
Various Reports like Journal, Ledgers, Cash Books, Sales Book, Purchase Book are prepared from the Accounting Data at the preliminary stage, but these evolve into Final Accounts Reports, namely Trial Balance, Trading and Profit and Loss Account and Balance Sheet. Read more
Accounting work is based on recording of financial transactions in a chronological order on a day-to-day basis. From the recorded data, various reports are generated and presented.
In order to have a meaningful reporting format, specific timelines are specified which are referred to as “ Accounting Cycles “. From the Process perspective, the same term is also being used to refer the method or process of accounting flow, viz., Journal, Ledger, Trial Balance, Final Accounts, the formats of such reports etc. Read more
Change is an inevitable part of growing organisms and organizations.
The old Oxford English Dictionary defines an Accountant as “ a person whose job is to keep or inspect financial accounts “.
The New Digital edition Collins English Dictionary defines an Accountant as “ a person concerned with the maintenance and audit of business accounts and the preparation of consultant reports in tax and finance “ Read more
