Generally when somebody refers to blockchains, they are talking about them as distributed ledgers, to securely record the master record of transactions. This can be a more efficient mechanism than a centralized database, if there are multiple stakeholders involved in validating a transaction.
As the market evolves, we expect to see many more examples of a change in the nature of crypto assets leading to a change in how they’re regulated. The idea that previously illiquid assets can now move around more freely will give rise to some new regulatory complexities.
In order to build a new, innovative version of an application that already exists, it’s critical to first have an understanding of the current options.
Industry-specific software applications have emerged as the primary business management systems for many companies, the one piece of software every employee touches multiple times a day.
Whether you go with one of the crypto-focused custody providers or an established institution, there are few key issues to keep in mind.
With any new asset class, it pays to be proactive and stay ahead of regulation as an audit can derail operations and take up valuable resources instead of focusing on your core business.
Many CEOs do not place enough emphasis on the link between their core business and the accounting function within their companies. Accounting impacts every department and can help or hinder the ability of a company to expand.
Your chart of accounts is the backbone of your company's accounting processes. A well organized chart of accounts can enable management to make informed strategic decisions as your company grows.
Deloitte has identified three characteristics that aid CFOs in achieving and succeeding in the role of CEO.
Accounting is integral to effective strategic planning, but what can you do if it takes all month to close the books? Technology enables us to spend more time as trusted advisors and truly elevate the accounting department within our organizations.
Accounting is a big part of keeping your company on the right track. Without accurately tracking income and expenses, managing invoices, and monitoring cash balances, it can be quite hard to properly budget and manage revenue in a productive way
A manual approach to invoicing may be easiest in the beginning, but over time, maintaining spreadsheets, reconciling amounts by hand, and making physical payments will require an unreasonable time commitment.
Effectively accounting for projects in a scalable way, requires a deliberate, methodical approach to setting up the underlying systems. It does not, necessarily, require a project accounting system.
What's the point of using accounting software, whether cloud or desktop, if you need to export the data every time your want to present a consolidated balance sheet & income statement?
The upgrade from your small business accounting software will be a substantial investment. Mid-market general ledger accounting systems are significantly costlier than Quickbooks and Xero, which is in addition to the time and resources associated with implementing new accounting processes.
Your accounting department represents a substantial investment for any company. Why not get the most out of that investment?