Tag Archives: Success

Increase your Business Success – Use Outsourced Accounting and Bookkeeping Services


Good accounting and bookkeeping services can considerably increase the likelihood of business success.

The following two tables from The Small Business Book (Robert Hamilton and John English) make the point eloquently.

Survival Related To frequency of accounting Report

Frequency Survival Rate %

At Last month – 79

Quarterly – 71.5

Half-yearly – 49.9

Annually – 36.0

Survival in relation to accounting records

Accounting Records Survival Rate %

Excellent –good — 63.0

Average — 49.8

Inadequate — 20.1

Poor – non existent — 2.5

As one can see the difference between average and good accounting can make a 25% difference in business survival.

Until recently small businesses could not afford best accounting or bookkeeping services. Small companies had to rely on part-time bookkeeping services, with no guarantee that the person will be available when needed. Part-time bookkeeping or accounting service providers cannot provide the diversity of accounting and bookkeeping experience needed.

Even for larger companies, there is a shortage of accountants. The number of accounting graduates is down 25% and the number of CPA candidates is down 22%. Since the need for accounting expertise is going up and the supply is down, the salaries for US accountants are increasing faster than inflation.

Companies like General Electric pioneered outsourced accounting and bookkeeping services. Many large companies have followed suit. Typically they have created captive operations with at least 300+ employees.

There is now a new class of vendors (primarily from India) who provide outsourced accounting and bookkeeping services to clients who may need only a quarter-time accountant to clients needing three hundred accountants.

Outsourced accounting and bookkeeping service firms have several advantages:

1. They can train their staff consistently in accounting, bookkeeping, or tax return preparation.

2. They are much less vulnerable in case of employee absences, illnesses etc.

3. The outsourced accounting and bookkeeping service firms have to invest in quality control to retain clients.

4. For one price the customer receives a bundle of necessary skills, all the way from clerical level to controller level.
Outsourced accounting and bookkeeping service firms provide:

1. Flexibility in manpower requirement – one can buy only the required services from outsourced accounting and bookkeeping service firms.

2. The client is relieved of the need to hire, train, and manages staff.

3. The client is also relieved of rent, computers etc.

4. Considerable cost-savings. Outsourced accounting or bookkeeping services cost as little as 1/3rd. the cost of comparable US resources.

One of the arguments against using Outsourced accounting and bookkeeping services is security or loss of control of data. Outsourced accounting and bookkeeping services firms spend considerable time and energy to keep their data secure.

To summarize, use of outsourced accounting and bookkeeping services, can give the business owner a key tool that he can use to get timely, actionable information. It raises the probability of success at an affordable price.

Outsourcing firms offer various versions of outsourcing bookkeeping. The bookkeeping outsourcing firms provide small business owners several benefits.

8 Steps to your Career Success in Accounting

If you have an ambition is to become a successful accountant and want to choose accounting field as your career path after graduation. Then, you need to start planning for your career path and working toward the success of achieving your career goal. In accounting field, a good knowledge in accounting, constant accuracy and working experience are of utmost important for a success. Here are 8 steps that you can include in your career path planning to ensure you are in the right track to meet your career goal.

Step 1: You must Excel in Math

Accounting is about numbers and the manipulation to numbers; hence, you must certain that you excel in math at high school. People who hate math may not be success in accounting field. That’s why you got to love math if you like to become an accountant. Take a special attention in math and ask your teacher or counselor’s guidance on which courses to take to best prepare you for earning a degree in accounting when you enter a college later.

Step 2: Request Information From College that Offer Accounting Degree

Beside the traditional brick & mortal colleges, there are many prestige’s online colleges and online universities offer degrees in accounting that enable you to earn an accounting degree from home. Send a letter, an email or make an online information request to those colleges that offer accounting degrees for heir catalogs and admission requirement on their accounting degree programs.

Step 3: Research On Certified Public Accountant Requirement

In order to become certified accountant, you must receive Certified Public Accountant certification, CPA from a state. The pre-requirement to CPA certification is you must first receive a bachelor’s degree in accounting or in related business fields. Check out the information on the requirement of CPA will make you more prepare on what courses need to be taken in accounting degree program. See the American Institute of Certified Public Accountants (aicpa.org) for further information.

Step 4: Ensure Your Accounting Degree Will Fulfill State Requirement

Normally, you will start your first career in you own state after graduating from your degree program. Hence, you need to make certain that the accounting degree program that you are going to enroll fulfill all state requirements, else you will face problem when you want to start your accounting career later.

Step 5: Decide Accounting Field Of Interest

There are a few starting points for your accounting career, you may major in public, government, and management accounting or internal auditing. No one degree program will cover all these fields; you need to choose which field that best suits your interest which you can choose as your majors of study.

Step 6: Become Proficient with Accounting Software

The time of using Microsoft Excel program in accounting work was over. You need to become proficient with a variety of accounting software if you want to success in this field. You may not be able to learn all the accounting software in the market, but you need to familiar with the common accounting software use by most corporate.

Step 7: Gain Working Experience in Related Fields

Related working experiences are important in determining a success in your accounting career. If you are attending class-based accounting degree program, you could work at part-time jobs or internships in accounting firms during your college years. If you are getting your accounting degree online, then you can start gaining your full working experience in accounting with a full-time job, because an online accounting degree program allows you to plan your learning schedule that fit into your full-time job.

Step 8: Takes CPA Test & Become A Certified Accountant

You can start preparing for CPA (Certified Public Accountant) examination while earning your bachelor’s degree in accounting. You will need some accounting experience, in addition to a bachelor’s degree, before applying for the test.

Summary

In order to prepare you career path to successfully become an accountant, you need to have a bachelor’s degree in accounting, a good working experience in accounting field and pass in CPA examination.

If you want more FREE and detailed information on choosing the right Online Accounting Degrees, Accredited Online Universities, and other online education information, you can visit http://www.your-online-degree.info.

Simple Formula to Achieve Guaranteed Success For Your Accounting Practice

One of the best ways that I know to build any accounting practice effortlessly is to position yourself as an expert in your field. When you position yourself as an expert, you have instantly differentiated yourself from your competitors. The best and most powerful way to become an expert is by authoring a special report.

I call it “education-based marketing.” You write a report that solves a problem that is being experienced by your prospects. When your prospects read your writing, you’ve educated them and they realize you are the expert. You have positioned yourself as the expert in your field.

In this article, I will share with you a simple formula I use to write special reports. Let’s say your CPA firm provides accounting services to small business owners. Here’s how you would approach this:

1) Identify 3 to 5 problems (a paragraph for each problem) your clients and prospects are facing.

Here are three that come to mind:

• Erratic cash flow
• Poor record keeping
• Pay high taxes

2) Write the solution (paragraph for each solution) to each of these problems.

These could be:

• Prepare a cash projection for the year or keep an eye on overheads with accurate financial reports
• Develop systems in your business or use an accounting software, etc.
• Proactive tax planning

3) Write a headline and a sub-headline for the report.

Here are several:

• 7 ways small businesses can save on their taxes
• The best legal structure for your small business to minimize taxes
• 5 ways to increase the cash flow in your small business

4) Send the “un-edited” report to an editor
An editor will help you embellish the special report. You will find dozens of editors who can help you with this task relatively inexpensively at www.Elance.com.

5) You are now an author. Authors are perceived as experts. You have differentiated yourself from your competitors.

Once you’ve got the report, you will be able to use this special report in multiple ways. You could send it to reporters in your local news market to get publicity; include a brief press release that highlights what’s most newsworthy in your report and gives the reporter contact information so they can call you if they have any questions. This might result in a news story, but it might also result in the reporter calling you later when they’re working on a story you might be able to comment on-more publicity.

You will also make use of the internet to leverage this report in several ways. You can use the report to generate new prospective clients by posting it on your website and giving it away in exchange for visitors’ email information or contact information. You can also create multiple articles out of the material in the report and submit those articles to hundreds of search engine directories to improve the ranking of your website. Finally, the report can be used to create at least 10 to 20 emails for your weekly Ezine.

Go ahead, follow the simple formula I have shared in this article to write your special report to get “expert status” and achieve success in your CPA practice.

Salim Omar, The CPA Marketing Genius, is a practicing CPA and founder of the Genius Marketing System, the proven step-by-step system that shows you how to attract more clients to your CPA practice and increase your income without working more. To receive your FREE Audio CD titled “12 Marketing Secrets – How To Attract Quality Clients” , visit The CPA Marketing Genius

Powered by Yahoo! Answers