Take, for instance, the complex but necessary issues of globalization. Growing companies that have international markets in their sights will need their accounting software to seamlessly integrate multiple currencies, multiple tax jurisdictions, and multiple languages. But the key to the difference between ERP and simple accounting software goes well beyond features which can come and go. The...
The way tax write-offs work is that they reduce your gross revenue or income by the total amount of allowable expenses. The result is called Adjusted Gross Revenue or income and becomes the basis on which a tax bill is calculated. Depending on the overall value of the deductions, tax write-offs can potentially save thousands or millions per year off a tax bill.
...In the world of accounts payable (AP), one of the most challenging jobs is managing the onslaught of supplier invoices that arrive each month. This includes verifying that the invoices are real — small businesses experience billing fraud twice as often as their larger counterparts, according to an Association of Certified Fraud Examiners (ACFE) report — and then paying the ones that are....
A financial controller’s list of priorities reflects the wide-ranging and complex responsibilities associated with the role – from overseeing day-to-day accounting and finance tasks to managing staff and technology. Depending on the organization, a controller may have to create new policies and processes from scratch, as well as ensuring that existing processes run as efficiently as possible.
As the head of the organization’s accounting team, the financial controller plays an increasingly strategic role in ensuring the company runs smoothly. There are many opportunities for controllers to improve the efficiency of day-to-day financial operations and enhance the business overall. New technologies help companies streamline or eliminate manual tasks and create more accurate financial...
If you want insights into how a company’s business is performing, operating income is a key metric to understand. Operating income measures the profitability of a company’s core business operations after deducting all operating expenses. It shows how efficiently the company can generate cash from its business operations. By excluding the effect of taxes, interest and one-time events such as acquis...
