Outsourcing, as a strategic element in key decision making tool of companies is gaining new grounds with each passing day. A recent study by Gartner says that Companies with 100 to 499 employees now account for just ...

Converting data from its existing format into a format useable for audit testing and data integrity testing is an essential, but often challenging, portion of the overall audit process. This article discusses one approach for data conversion and outlin...

Some organizations perform recurring audits, either over time (e.g. quarterly) or else location (e.g. store or branch). Each of these audits generally has very similar audit objectives and often follows essentially the same audit steps. When data to b...

As procurement systems become increasingly automated, and process ever larger numbers of payments, the need for both preventive and detective controls over fraud takes on more significance. Regardless of how well controls are designed and implemented, th...

Summary The process of auditing fixed asset records in an enterprise that can be daunting, especially when the number of supporting detail records is in the thousands or tens of thousands, which is not an unusual situation. Two general audit approach...

E-accounting very well cuts small the time in use to move the time taken by in order swap between the clients and accounting firm. The perfect moving is far more resourceful and much faster. The accounting firm has dynamic access to the sourcing documents...

Don't know your debits from your credits? Here's a quick primer on how basic bookkeeping works and an easy way to understand debits and credits.First, know that debits are not "deductions" and credits are not "increases". Debit and credit are ...

It is a well-known fact that the financial department of any organization, whether large, medium or small needs a good bookkeeper or an accountant who can execute accounting services efficiently. One is always searching for a person who can handle these e...

When a business comes into existence, there is a group of people who become involved with the performance of the business in its various aspects. The investors, the customers, shareholders, decision-makers as well as the comparatively unrelated tax author...

A hard task like accounting requires tedious hours of record keeping and accuracy of entries. However, it is a known fact that any organization’s functionality is incomplete without accomplishing accounting task. In such a situation you need profession...

Of late, India has become the center of attraction for various companies and businesses worldwide. Every one, including a small, large or big business, wants to hire outsourcing services from India. Several global companies therefore, are making beeline f...

One of the first things you hear about offshoring is that it would increase the potential for data theft. Let us assess this perception in a common sense way. When we talk about any “increase” we have to say compared to what. In this case the CPA h...

Running a business is not a child’s play. In fact, not every one can run a successful business. Running a successful business requires a lot of skill, expertise and coordination. In fact, the person who is running the business needs to understand how to...

Running a successful business is not at all an easy task and it is a known fact that running a successful business takes in a lot of effort and a lot of expertise. At the same time, another known fact is that the accounts department of any firm, large sca...

Any time you walk into your favorite store, be it for weekly groceries or maybe for a shopping spree, you notice a sea of humanity floating in and out of the shop. This often causes one to wonder the secret behind the efficient management of the store tha...