Accounting

Accounting

Virtual Accounting new norm for SMEs


SURREY, UK; 17 June 2020 – There’s no doubt the last few months have forever changed the way businesses operate, with more demand for remote business systems than ever before. However, looking back over the last 5 years, the accounting industry had already begun making huge leaps towards totally virtual systems, particularly for SME’s.

The following contributing factors all contributed to this shift, which has allowed for greater flexibility and efficiency for many companies at this time;

  • Making tax digital brought a substantial change as all companies that are registered for VAT needed to begin submitting digital returns and this sped up the evolution and move towards a virtual accounting world.
  • All accounting systems have now transitioned to cloud-based systems
  • Apps have been connected to software to increase performance and paperless working
  • Companies can plan, forecast, and understand their finances looking forward
  • On and offsite accounting are now genuine choices instead of needing to utilize an internal team and incur fixed expenses

According to Bernard Merchant of Marden&Co – an accounting firm based in Surrey, specialising in SME businesses; “We are now living in a virtual world and this requires companies to lean more on their accountants to provide virtual bookkeeping and management information. It is more important than ever to see your accounts from anywhere in the world at a click of a button.”

What’s next?

How do industry-leaders like Marden&Co see the landscape changing over the course of the next few months?

“We anticipate companies reducing fixed costs all round, with less or no office space, fewer employees operating in fixed areas and a lot more services being performed using software and technology. As costs continue to be reduced, no doubt all companies will have to begin considering how to create an ‘oyster’-style tap in and out service as we progress and move out of the lockdown and that this will change travel, accommodation and traditional service expenses for those operating in major cities.”

But it’s not all bad news. Merchant says lowering of costs for a normal SME, can ultimately result in a better work/ life balance, and possibly a greater appreciation of positive contact with others where face to face meetings will be that much more meaningful.”

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Outsourcing your bookkeeping / Accounting


Outsourcing Accounting Functions Benefits Businesses
Bracknell, UK – March 2020 – According to Transcosmos, 59 % of the companies that outsource reduce their operating costs Mark Pereira of MW Accounting Services explains why businesses should outsource their accounting services:
“My number one piece of advice to any business owner is to delegate everything you don’t need to do. Focus your efforts on the stuff you can’t yet hand over. Then one day you’ll be able to hand over the lot, getting your just rewards for all that hard work.
A great starting point in this process is to outsource your bookkeeping. Cloud-based software has made this easier to do than ever before. It just so happens that we can take care of this for you.

MW Accounting Services is one of the most trusted providers of accounting services in Bracknell, Berkshire. We have accounting experts who work with a variety of businesses. The firm uses automated and continuous accounting techniques to increase a business’s internal accounting efficiency.

There are many benefits to outsourcing internal accounting functions. When an organisation initially decides there is a need for internal accounting functions, they may not be able to justify full-time staffing. Using the outsourcing option provides access to consultants with expertise in a variety of areas and right-size staffing based upon the accounting needs of the organisation. Thus, one of the key benefits of outsourcing is to fill gaps in areas of technical expertise. Other organisations may prefer to use external firms to handle their internal accounting functions due to a shortage of certified internal accountants.

Some businesses may require their chief accounting executive to wear multiple hats, resulting in backlog issues. However, these businesses can have a bookkeeper, an accounting manager, a controller, and an oversight CFO for a reasonable cost. If you wanted those experts in-house, you’d have to hire three or four individuals, which is very costly. So, outsourcing is helpful because it cuts down on the cost and time that it would take for the client to hire a bookkeeper and then find a CPA who has auditing experience. Also, outsourcing accounting services expose a firm to the latest trends and best practices in the industry.

According to MW Accounting Services, “a business that relies on one person isn’t really a business at all.”

Contact 
Bracknell, Berkshire,
RG12 9SZ
Mobile: 07515788795
Email: ask@mw-accounts-services.uk

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DiscoverBusiness.us Announces the 2020 Most Affordable Online MBA in Accounting Programs


https://www.prfire.com/DiscoverBusiness.us today released its Most Affordable Online MBA in Accounting rankings, designed to help prospective students better evaluate important program factors like quality, cost, and salary outcomes. The 2020 edition compares accredited programs on these factors.

Then each program was reviewed based on accreditation. Every program included in this ranking is both regionally accredited by one of the accrediting agencies recognized by the US Department of Education and CHEA, and additionally holds accreditation by one of the following three business school accrediting institutions: IACBE, ACBSP, and AACSB-International.

Next, we checked all remaining programs on our list are from not-for-profit or public institutions.

Lastly, we ranked the MBA programs based upon the estimated tuition of each program. The program tuition information was collected from the most recent data available on each school website. The cost data was calculated for the entirety of the degree but does not include ancillary costs like books, library fees, etc.

Prospective students today are looking for a high-quality online program, while they are also more mindful of the program cost and possible salary outcomes,” said Kristen Morris, editor at DiscoverBusiness.us. “After collecting and analyzing data on 265 online programs, this list of 10 of the best provides a fresh look at MBA in Accounting options that provide excellent value for students.”

10 Most Affordable Online MBA in Accounting Programs 2020

1. University of Massachusetts (Amherst, MA)

1. The University of the Cumberlands (Williamsburg,KY)
2. Jacksonville State University (Jacksonville, AL)
3. The University of North Alabama (Florence, AL)
4. The University of Southern Indiana (Evansville, IN)
5. Campbellsville University (Campbellsville, KY)
6. Lindenwood University (Saint Charles, MO)
7. Clarion University of Pennsylvania (Clarion, PA)
8. Anderson University (Anderson, IN)
9. Texas A&M University-Commerce (Commerce, TX)
10. Park University (Parkville, MO)

See the full ranking details here: https://www.discoverbusiness.us/education/online-mba/accounting/

About DiscoverBusiness.us: The focus at DiscoverBusiness.us is on empowering people through information. We strive to help future business students make better, more informed education decisions. We do this through our in-depth resources, subject guides, and rankings.

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