Accounting and Outsourcing

Business Process Outsourcing: The Competitive Advantage by Rick Click & Thomas Duening

Global competition doesn't just move jobs, it also moves business processes and creates new kinds of business cooperation. For more than a century companies with global reach had to grow into huge enterprises with massive internal infrastructure. With the rise of computer systems, smaller companies learned to share the large mainframes to lower the cost for each business. Specialized providers went into business to offer their systems and expertise so that businesses could focus on their value proposition rather than their information technology.

This outsourcing of non-core operations has expanded to many other kinds of business processes such as human resources and even some aspects of accounting. Some businesses are even creating new value propositions by combining their specialized abilities with those of another company in order for each to have a more powerful offering for their target markets. This is especially true as companies extend their reach around the globe.

Rick Click and Thomas Duening show you how this process works and what you need to do and consider so you can identify which processes you might want to outsource to lower your costs and extend your reach. While this is a practical introduction, it is meant for the general business person having to learn about BPO and having to get up to speed about what has to be done to get it right.

     

Accounting and Outsourcing - Accounting

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Accounting and Outsourcing * Accounting

Online Accounting   
Joe Goertz

Accounting in USA has seen lots of change. There was a time when the accounting was more of book keeping done in huge ledgers and was the purview of select few. It's not so anymore. Accounting is much more widely accepted as a business function and general people also look for the accounting details of the firms they are associated with. Also lot more transparency is required now. Keeping in line with the development of IT and other technologies, the accounting is also now based on internet and has taken wide strides. Online accounting services, viewed as merely experimental only a few years ago are now becoming the run away business.


As such accounting industry as been little slow to adopt the newer technology and has not left fully its love for the pen and pencil work.

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Rally To Push For Hike To Georgia Cigarette Tax (AP Via Yahoo! Finance)
Anti-smoking advocates say they know a way to help fill Georgia's $1 billion budget shortfall: hike the tax on cigarettes by $1.

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The SU accounting industry has seen new trend of outsourcing its work now. All these have forced the industry to adopt the Online Accounting. The internets as well as other technologies are used now to build more efficient book keeping systems. Also it's becoming more cost efficient for larger firms to outsource the work. Outsourcing is very much easier with work being delivered online. It's much more cost effective as well as fast also.


The shift from the practice where clients paid the accounting firms as per the billable hours to a fixed fee based system is forcing the accounting firms to deliver efficient work in cost effective manner. This means that they can not any longer cover their inefficient work by merely putting in more time into the projects. This has favored the Online accounting practices much. Value billing has forced accounting professionals to become more efficient.

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Tax Tips For The Unemployed (CNN Money)
Tax time can be a painful time for many of us, and it's especially tough for people without jobs. If you're unemployed, there are a few twists and turns in the tax code that can work to your benefit.
New York Mayor Bloomberg Presses For Tax On Soda (Reuters Via Yahoo! News)
New York City Mayor Michael Bloomberg urged state legislators to levy a tax on soda, saying the money raised would help plug the state's shortfalls in health care and education funding.

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Online accounting very effectively cuts short the time taken to transfer the time taken by information exchange between the clients and accounting firm. The seamless transfer is far more efficient and much faster. The accounting firm has dynamic access to the sourcing documents of the clients firms and can access anytime any information it requires from its clients side. The online accounting system also allows the accounting firm access to client data from far away locations at the a few clicks on the internet. The time sensitive financial data is readily available to the accounting firm.


Other then the speed and cost of services, online accounting enables better customer service and more reliability and trust. Accounting firms recently have been exposed as in cahoots with some very big clients, committing serious financial crimes. In this scenario the new practice builds more transparency also.


The online accounting practice also provide for more timely communication between the firm and clients. Since the client has more immediate access to information and to time sensitive documents with Online Accounting practices, questions and problems can be more easily identified and resolved. This translates into increased profits as well as happier clients!!


Since the clients get better service, they get more value for the money they spend. It is generally quite cheaper for the business owner to outsource the bookkeeping and accounting than to hire and supervise it in-house. Savings for the business owner can be as much as 30% for some clients! Online Accounting is great for such services.


The accounting firms also charge now a fee (fixed on a monthly basis) almost five times the average monthly fee (based on billable hours) they charged earlier.


Generally the various online accounting processes available are customized for their users where they can choose the menu of features they like.


Online Accounting is an excellent tool for accounting and book keeping, one that is help full for both the accounting firms as well as the clients.


Accounting Resources and the latest news and information around it.

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Index of Articles about Accounting and Outsourcing

What Other Authors say about Accounting and Outsourcing

Tips on Picking the Best Accounting Software - Top 2 Picks by Richard Seng

The doors are finally open. The flashy sign proclaiming, Come On In,... is brightly lit on the front door, and your new business is booming. Life is beautiful, and you can't help but think to yourself....

Accounting Police: Do They Exist? by John Day

This article decribes how adherance to accounting principles is regulatedWho created accounting principles? Who sets and revises accounting standards? What if you dont follow all the rules, do you go...

Debit and Credit - Learning Accounting Basics by Tony Forster

Debit and Credit - Learning Accounting Basics <P align=justify>The terms 'debit' and 'credit' can be confusing when learning accounting for the first time but why is that? If you go to the bank...

Accountants And Accounting Software by Frank Hague

Accounting is the measuring, and disclosure or provision of assurance about information that helps managers and other decision makers make resource allocation decisions. How to become an Accountant.Accountants...

Learning Accounting: Debit and Credit Basics by Peter Lenkefi

When learning accounting for the first time, the terms 'debit' and 'credit' can be a bit confusing. Why? Because when you go to the bank and deposit money, the teller will tell you, "I am crediting your...

Online Accounting Management by Veera Nagaraj

Online Accounting management Online Accounting Management (Business) is the practical application of management techniques to control and report on the financial health of the organization. This involves...

Quick Guide to Accounting Training by Kate Leas

Are you considering an accounting education but confused by all the jargon? This is a quick guide to understanding the different specialties associated with accounting careers and the training you will...

Lead the corporate world with accounting help by Alvis Brazma

Do the tax sessions pester you a lot just because your organization is not having a good financial management system? As accounts are the information sheets that are needed on daily basis in order to conduct...

Accounting - All Businesses Need One. by Article Submissions

As business becomes more and more global, and complexities continue to emerge, certain fields have gained prominence in today's career market. One of these is accounting. Accounting is a very conceptual...