October 11, 2017

Procure to Pay Process Challenges and its Impact on Business

October 11, 2017

Impact of GST on Small & Medium Business

September 29, 2017

GST and its impact on Export of Services

GST and its impact on Export of Services With the introduction of GST,the export of Services aremade at par with the export of Goods. The export procedure for both goods and services have been changed and there is no such distinction for export of goods or services. Under old law, in case of export of services, there was no procedure defined under Service Tax and hence no tax was applicable on export of services, but under GST the export of services has been made at par with export of goods and thus IGST is applicable in the GST regime. How […]
September 19, 2017

GST Digitization need For SME

September 19, 2017

Benefits of Outsourcing Bookkeeping & Accounting services

For a business to be successful, it is crucial that it has a proper bookkeeping and accounting system in place, Business owners can hire the services of professionals in order to stay peaceful and focus on other business operations. Well, What is Bookkeeping? The process of recording financial data of a company or an organization is known as bookkeeping. The process involves observing and maintaining the books and records of a business enterprise. It covers transactions such as purchase, sales, income and payments. Therefore bookkeeping and accounting services are considered essential functions of businesses. Only a proper system in place […]
September 19, 2017

Process Consulting: Where should process consulting stop?

While doing process consulting, key question arises where should we stop, do we need to stop our work at documentation of Standard Operating Procedures (SOP) or should we travel the distance till the implementation of these SOPs with customer? Is there any right approach to decide on this? I also ask myself that, whether my customer is realizing the value in getting a world class SOP documented for their organization or do they need support in realizing the value of SOP through appropriate & timely implementation of SOP. I have seen so many Consulting firms talking about approach & methodology […]
September 19, 2017

Attention: Director, CFO’s and Auditors – Are you aware that you need IFC defined and operating effectively.

Are you ready to be complied for IFC or ICOFR for 2015-16 which has been declared mandatory as per the amendments from Companies Act 2013 by 31st March 2016?? Where as per section 134 Board of Directors Responsibility states that directors, have laid down IFC to be followed by company and that such controls are adequate and operating effectively. As per Section 143: The auditor’s report should also state whether company has adequate IFC system in place and operating effectiveness of such controls What is IFC or ICOFR/IFCFR? As per Companies Act 2013, the term Internal Financial Control (IFC) (for […]
September 19, 2017

Can a company outsource the Risk Function ?

Changes and reforms in the Governance and Compliance norms have made stringent requirements related to good internal governance and control, stand out in particular – place higher demands on both management and control functions of companies. Managing risk efficiently and effectively can be a determining factor in the overall success of any organization. Most of the company tries to develop a risk management plan on their own and some outsource this function. Outsourcing risk management function is not a new concept globally, but the scenario is new for Indian organizations. However, contracting out risk does not guarantee an organization’s success […]