Financial Accounting is the process of summarizing financial data taken from an organization's accounting records and publishing it in the form of annual reports for the benefit of people outside the organization.
It is concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, employees, government agencies, owners, and other stakeholders. It is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company. Management accounting provides accounting information to help managers make decisions for managing the business.
Financial accounting serves following purposes:
• producing general purpose financial statements
• provision of information used by management of a business entity for decision making, planning and performance evaluation
• for meeting regulatory requirements
Various financial tools that are used for the purpose of financial accounting include:
• Tax calculators
• Auto calculators
• Mortgage Calculators
• Investment Calculators
• Savings calculators
• Loan calculators
• Personal Finance
• Insurance Calculators
• Retirement Calculators
• Business Calculators
• Debit & Credit cards
check out financial accounting services
Wednesday, June 30, 2010
Thursday, June 24, 2010
Back Office Services
Outsourcing is one of the principal sectors in the present-day international business arena. Today, bulk of developing nations depends on the income generated from outsourcing business to boost-up or keep up their economic status. On the other hand, firms in the developed countries find outsourcing as a new gate for profit-making.
One of the major sectors in outsourcing ground is Back Office Services. It is the outsourcing of specific and unimportant office tasks to offshore firms with the signing of lieu or MoU. Although the momentum of growth was slack in the early days, Back Office Outsourcing Services got the momentum from the newly-emerged management trends such as outsourcing of less important tasks in the organisations.
Back office services can be divided according to the fields of services. Some of the most-outsourced back office services include financial and accounting services, bookkeeping services, customer care and support, call centre, human resources, pay-roll, purchase bills, transcription, etc. The fields of services covered in Back Office Operations are expanding because of the increasing responsibilities of the organisations and equally demanding back office support.
Back Office service outsourcing has quite a few advantages. These advantages make it relevant in the outsourcing business sector.
• Cost Effectiveness
• Time Effectiveness
• Innovation in Processing
• Automation
Cost advantage
Outsourcing of back office operations helps in reducing the working cost of organisations. Offshore outsourcing helps to achieve high competence at reasonable and cost effective prices. The less cost of operations is because of the low-cost manpower and highly efficient services offered by the outsourcing companies. For example, US companies outsource their back office operations to India, because of the availability of large number manpower and lesser labour costs in India.
Time advantage
When a third party firm executes some chores for a Company, then the executives in the company, which is receiving the service, can save more time for their core business activities. For any company, core business activities are important than non-essential business tasks. The outsourcing of less important activities helps the executives to separate more time for their core business activities.
Innovation in Processing
Innovation is the key for improving the business processing methods. The offshore outsourcing companies have creative talent pools, which help them device smart and time saving methods for back office operations. These innovative methods speed up the operations and make operating processes simpler.
Automation
Automation is the process of automating certain operating methods with the help of software tools. The technical expertise of outsourcing companies enables them to develop software tools for the complete automation of certain processes. Automation helps to reduce the manpower and hence reduce the labour costs.
Back office processing services are necessary for any business establishment. These services are obtainable at cheaper costs and superior delivery from offshore concerns. Increasing services is the reason for more companies entering into outsourcing business. Each personnel in these firms are well-trained to provide high quality services. The growing popularity for India BPO services is a good example for their expertise and high-flying service efficiency. Indeed, outsourcing of back office operations is profitable for all companies in the look out for higher net profit.
Check out for more : Back office processing services
One of the major sectors in outsourcing ground is Back Office Services. It is the outsourcing of specific and unimportant office tasks to offshore firms with the signing of lieu or MoU. Although the momentum of growth was slack in the early days, Back Office Outsourcing Services got the momentum from the newly-emerged management trends such as outsourcing of less important tasks in the organisations.
Back office services can be divided according to the fields of services. Some of the most-outsourced back office services include financial and accounting services, bookkeeping services, customer care and support, call centre, human resources, pay-roll, purchase bills, transcription, etc. The fields of services covered in Back Office Operations are expanding because of the increasing responsibilities of the organisations and equally demanding back office support.
Back Office service outsourcing has quite a few advantages. These advantages make it relevant in the outsourcing business sector.
• Cost Effectiveness
• Time Effectiveness
• Innovation in Processing
• Automation
Cost advantage
Outsourcing of back office operations helps in reducing the working cost of organisations. Offshore outsourcing helps to achieve high competence at reasonable and cost effective prices. The less cost of operations is because of the low-cost manpower and highly efficient services offered by the outsourcing companies. For example, US companies outsource their back office operations to India, because of the availability of large number manpower and lesser labour costs in India.
Time advantage
When a third party firm executes some chores for a Company, then the executives in the company, which is receiving the service, can save more time for their core business activities. For any company, core business activities are important than non-essential business tasks. The outsourcing of less important activities helps the executives to separate more time for their core business activities.
Innovation in Processing
Innovation is the key for improving the business processing methods. The offshore outsourcing companies have creative talent pools, which help them device smart and time saving methods for back office operations. These innovative methods speed up the operations and make operating processes simpler.
Automation
Automation is the process of automating certain operating methods with the help of software tools. The technical expertise of outsourcing companies enables them to develop software tools for the complete automation of certain processes. Automation helps to reduce the manpower and hence reduce the labour costs.
Back office processing services are necessary for any business establishment. These services are obtainable at cheaper costs and superior delivery from offshore concerns. Increasing services is the reason for more companies entering into outsourcing business. Each personnel in these firms are well-trained to provide high quality services. The growing popularity for India BPO services is a good example for their expertise and high-flying service efficiency. Indeed, outsourcing of back office operations is profitable for all companies in the look out for higher net profit.
Check out for more : Back office processing services
Tuesday, June 15, 2010
GENEALOGY SERVICES
Tracing back the missing links and lineages in the family can be too tedious and will acquire eons to map out at least two links. This is where genealogy services provided by various on-site or off-site companies serve its purpose and advantage to organizations or any other individual client.
Genealogy services call for robust infrastructure, in-depth knowledge and experience in researching and analyzing various old records and data. The genealogists draw on various old records like family records, census records, financial records, wills, war records, BMD (Birth Marriage Death) records, Parish records, electoral records, etc. Historical, social, and family backdrop is crucial in achieving accurate identification of individuals and relationships.
Some of the basic genealogical services include scanning, indexing and transcription, and data updation process. Companies scan and digitize data from microfilms, microfiche, aperture cards, paper/old books using OCR and other techniques to maintain the legibility of the information throughout the process.
Historical data indexing provides easy access to any information required at any time. Indexing of the genealogy data or record can allow any member of a family to map out the long lost member of the same or related family. The transcription process can reproduce any hard to read document into decipherable document. Some companies also provide the option to update or add any new family link or information to the existing genealogy record.
Based on the family documents and stories collected, the genealogists set forth for further research which includes the examining and evaluating the records to pin down the verification about the ancestors and other family links. Various researches conducted include ancestry research, relationship charts, pedigree charts or biography charts.
Most of the organizations or clients resort on outsourcing their genealogy tasks to other companies to cut their overhead and save time to execute their other core jobs. While some conduct the genealogy research to be informed of the religious belief systems, others have it done out of the desire or curiosity to know the medical and family history of the adopted individual or to be updated on the families who survived poverty, slavery or other natural calamities.
However, the information that the historical data or any other genealogy data houses can be unreliable at times. The unpredictability of the information depends on the mental state or knowledge or any other aspects of the informant or writer. Hence it is imperative for the genealogist to meticulously scrutinize the source of information with eagle-eye attention.
Genealogy software like GRAMPS (Genealogical Research and Analysis Management Programming System) can store the basic information of an individual like first name, family name, place name, occupation, dates of birth, marriage and death, residence, etc. Most programs facilitate the importing and exporting of these data in GEDCOM (Genealogical Data Communication) format. This allows the data to be accessed or opened in any other genealogy software.
Genealogy services call for robust infrastructure, in-depth knowledge and experience in researching and analyzing various old records and data. The genealogists draw on various old records like family records, census records, financial records, wills, war records, BMD (Birth Marriage Death) records, Parish records, electoral records, etc. Historical, social, and family backdrop is crucial in achieving accurate identification of individuals and relationships.
Some of the basic genealogical services include scanning, indexing and transcription, and data updation process. Companies scan and digitize data from microfilms, microfiche, aperture cards, paper/old books using OCR and other techniques to maintain the legibility of the information throughout the process.
Historical data indexing provides easy access to any information required at any time. Indexing of the genealogy data or record can allow any member of a family to map out the long lost member of the same or related family. The transcription process can reproduce any hard to read document into decipherable document. Some companies also provide the option to update or add any new family link or information to the existing genealogy record.
Based on the family documents and stories collected, the genealogists set forth for further research which includes the examining and evaluating the records to pin down the verification about the ancestors and other family links. Various researches conducted include ancestry research, relationship charts, pedigree charts or biography charts.
Most of the organizations or clients resort on outsourcing their genealogy tasks to other companies to cut their overhead and save time to execute their other core jobs. While some conduct the genealogy research to be informed of the religious belief systems, others have it done out of the desire or curiosity to know the medical and family history of the adopted individual or to be updated on the families who survived poverty, slavery or other natural calamities.
However, the information that the historical data or any other genealogy data houses can be unreliable at times. The unpredictability of the information depends on the mental state or knowledge or any other aspects of the informant or writer. Hence it is imperative for the genealogist to meticulously scrutinize the source of information with eagle-eye attention.
Genealogy software like GRAMPS (Genealogical Research and Analysis Management Programming System) can store the basic information of an individual like first name, family name, place name, occupation, dates of birth, marriage and death, residence, etc. Most programs facilitate the importing and exporting of these data in GEDCOM (Genealogical Data Communication) format. This allows the data to be accessed or opened in any other genealogy software.
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