Accounting and Business Advisory

Accounting and Business Advisory

Accounting refers to the process of keeping financial records pertaining to the business. It involves the process of recording, summarizing, analyzing, and reporting all the transactions.
The reports generated by various streams of accounting are useful for business decisions. These reports give detailed information about the financial status of the business.

Advisory:

Business advisory is the final tier of the accounting pyramid. Business advisory involves reporting on performance as well as advising on strategic plans, risk assessment, and succession plans.

The three pillars of the accounting world are being reconfigured – with some bearing more weight than others. Business advisory is slowly becoming the strongest option when it comes to the services offered by accounting firms.

What is a business advisory service?

Small businesses want, and need, someone to help them understand their numbers. Not everyone has passed the CPA exam or equivalent accounting qualification. Just as not everyone understands that profitability doesn’t necessarily mean viability.

For firms, the final frontier isn’t financial reporting, but instead, business advisory. With advanced financial knowledge, and an insight into your clients’ business strategy, providing that advice is the obvious next step.

But providing clients with strategic business planning services is not as time-consuming or complicated as it sounds. Instead, with the proliferation of tech-based solutions, accountants can easily bridge the gap between their knowledge and the clients’ needs.

 

Accounting & Financial Reporting

Accounting refers to the process of keeping financial records pertaining to the business. It involves the process

Updating Backlog Account

Many organizations might not maintain proper books of accounts at the starting point of their business. But later they realize

Cloud Based Account Services

In the case of cloud accounting, you keep your business books online. That includes records of income and expenses.

Standard Operating procedure Setup

SOP is a set of instructions that describes all the relevant steps and activities of a process or procedure .

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