<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Accounting is one of the most
significant and essential departments of any organization to keep confidential
financial information in an organized manner. All payables, receivables,
expenses, and various other financial data records need to be drafted properly
under the respective compliance to protect the organization from hefty taxes.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">So, proper management of
Company-related, Employee-related, Property-related, and Taxation-related
payables or receivables needs to fulfill the compliance requirements for
achieving a healthy finance structure of an organization.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">This article will guide you through
various interesting concepts that every organization must know to run a
successful business in your niche without paying unnecessary taxes. Let’s take
a few significant accounting processes that you must manage accurately to
comply with the internal and external laws, regulations, and rules.&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">1.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Book-Keeping &amp; Day-To-Day
Accounting</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Bookkeeping is one of the most
traditional accounting systems. It refers to the proper manual maintenance of
all financial transactions of a company to meet the day-to-day or weekly or
monthly accounting needs.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Undoubtedly, the bookkeeping system is
the basis for a healthy accounting process. It means that if a company
maintains proper paperwork, the accounting process will be more efficient.
Recording financial transactions (credits &amp; debits), balancing a general
ledger, recording invoices, payroll data storage, etc., like activities will
all be included in a manual book-keeping system.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Here are a few benefits of bookkeeping
process for accounting:</span></p>

<p class="MsoListParagraphCxSpFirst" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l3 level1 lfo3"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">The bookkeeping
system is useful as a future reference for accounting or auditing purposes. <o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l3 level1 lfo3"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Proper and Systematical
maintenance of financial records and keeping sources for further references <o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l3 level1 lfo3"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">One of the
significant benefits of the bookkeeping system is that the companies can plan budget
strategies based on financial information. <o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l3 level1 lfo3"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Bookkeeping
systems will provide all the source information for <b>financial statement preparation </b>(Income Statement, Balance Sheets,
and Cash Flows)<b>.</b>&nbsp; &nbsp;<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpLast" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l3 level1 lfo3"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Proper
maintenance of financial records will be useful in</span> <span style="font-size:13.0pt">many legal requirements.&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">2.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Accounts Payable Processing
and Accounts Receivable Processing</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Segregating accounts payables and
receivables is one of the most important tasks in the accounting system. These
factors will play key roles in calculating the assets and liabilities and
preparing financial balance sheets.&nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Accounts payables represent a debt that
an organization needs to be paid to their material suppliers or vendors who
supply materials or deliver services to the company. These data will come under
the current liabilities of a company’s balance sheet. There are two types of
liabilities including short-term and long-term liabilities that can be added to
the balance sheet.&nbsp; &nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">On the other side, accounts receivables
are completely different and are assets to an organization. For instance, if a
client or customer needs to pay the money to a company then they are called
account receivables. This financial information will come under current assets
in the balance sheet. Both factors will play a vital role in preparing the
company’s annual financial statements.&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">3.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Payroll Processing &amp; Reporting
Process</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Payroll processing and reporting is
another significant factor that must be considered in preparing financial
statements and remaining compliant with taxation rules. Salaries paid to
employees, expenses that the company offered, and statutory dues all come under
cash flow statements. Hence, payroll processing &amp; reporting would also play
an important role in financial statement preparation.&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">4.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Bank Reconciliation &amp;
Cash Management</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">A complete record of the company’s bank
transactions, including deposits, withdrawals, penalties, or any extra charges imposed
by the respective banks will all be considered for accounting processes. This
process will play a key role in checking and validating the balance of the company’s
bank reconciliation statement with the balance of the company’s bookkeeping
systems.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">However, intelligent and advanced AI
applications are widely applied in automating accounting procedures. It will
ensure accurate analysis of balance comparison within minutes without
compromising on quality. Hence, the management of reconciling cash and receipts
would be easier.&nbsp;&nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">The steps involved in this process
include:</span></p>

<p class="MsoListParagraphCxSpFirst" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Reviewing the
banks’ financial data<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Monitoring the
actual balance with the adjusted balance<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Verifying the
bank reconciles transactions<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Segmenting the
expenses and credits <o:p></o:p></span></p>

<p class="MsoListParagraphCxSpLast" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l0 level1 lfo2"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Preparing
personal financial statements or the company’s financial statement
preparation&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">5.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Designing Control Procedures</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">What are control procedures in
accounting?</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">This question might come across your
mind when you read this title. Well, we will assist you in this. The
organization needs to design accounting control procedures to improve the
quality and accuracy of the company’s financial statements.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Moreover, a company’s accounting control
procedures that they designed will also play a key role in making the
accounting and financial processes compliant with the rules and regulations of
the respective authorities.&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">6.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Financial Reporting &amp; Compliance</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Financial reporting &amp; compliance
management is also an essential task for individuals. Financial reporting
compliance solutions will involve streamlining the company’s internal auditing
processes and automating the policy updates as per the government’s privacy
rules and regulations.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Besides automatically updating the
company’s privacy policies, the implementation of intelligent compliance
management solutions will also assist companies in maintaining audit trials and
making the financial data compliant with the rules.&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">7.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Cash Flow Budgeting and
Forecasting</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">It is one of the crucial accounting
processes that decide how cash inflows and outflows. The name itself says that
this method will play a key role in predicting future cash in-flows and
anticipated cash outflows. It means organizations can predict the pros and cons
in their budget plans and make proper strategies to achieve business
objectives.&nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">8.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Corporate Tax Planning and
Return Preparation</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">A strategic corporate tax policy will
always generate significant opportunities and offer organizations to save from
hefty taxes. A proper design of an efficient tax policy will better manage the
company’s finances and reduce the burden of various taxes on the company’s
earnings.&nbsp; &nbsp; &nbsp; &nbsp;&nbsp;</span></p>

<p class="MsoListParagraph" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l1 level1 lfo1"><!--[if !supportLists]--><b><span style="font-size:14.0pt;mso-bidi-font-size:
11.0pt;mso-bidi-font-family:Calibri;mso-bidi-theme-font:minor-latin">9.<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-weight: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;
</span></span></b><!--[endif]--><b><span style="font-size:14.0pt;mso-bidi-font-size:11.0pt">Personal Financial
Statements</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">If it is corporate financial statement
preparation, current &amp; non-current assets, current and non-current
liabilities, shareholders' equity, investments details, and all other cash
balances at the end of a particular year will be considered. Accordingly,
personal financial statements are statements that include all individual
expenses, investments, credits, and deposits.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">It means personal financial statements
are worksheets that record all the assets (savings balances and premium
investments etc.) and liabilities (loans and credit card balances etc.) of
individuals. This type of personal financial statement would play a key role in
analyzing the current financial position of individuals.&nbsp;&nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Well, all these are a few significant
methods that mandate plays a crucial role in personal and corporate’s financial
reporting and auditing functions. Every company needs a team of seasoned
professionals with strong accounting and compliance management skills will
build a healthy accounting system in compliance with the existing rules and
regulations.&nbsp; &nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Currently, multinational and mid-level
enterprises are hiring #<b>top business
accounting service providers</b> to manage end-to-end accounting operations.
From bookkeeping, spreadsheet preparation, validating credits and debits,
payroll processing, building tax-saving strategies, tax filing, and other
financial statements preparing works can be proficiently handled by the best
financial accounting &amp; advisory services companies.&nbsp; &nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Let’s look at the top advantages of
hiring Accounting and Audit companies that provide taxation, consulting,
payroll management, internal audit, financial statement audit services, etc.&nbsp;&nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><b><span style="font-size:14.0pt;
mso-bidi-font-size:11.0pt">Benefits Of Outsourcing Accounting Services</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">Here are a few top benefits of
outsourcing your accounting services to third-party financial accounting,
auditing, and tax filing service companies.</span></p>

<p class="MsoListParagraphCxSpFirst" style="margin-bottom:0in;margin-bottom:.0001pt;
mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l2 level1 lfo4"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Hiring top accounting
firms at a fixed package will make internal auditing and taxation tasks smooth.
<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l2 level1 lfo4"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Instead of an in-house
accounting team, outsourcing your accounting and finance operations will be an inexpensive
and budget-saving strategy.<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l2 level1 lfo4"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">By hiring
accounting and auditing companies, organizations can keep all financial
information organized way and make it ready for audits and tax filing functions.<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l2 level1 lfo4"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Highly expert <span class="MsoHyperlink"><b><a href="https://www.usm-sbc.com/fpo-outsourcing/outsourcing#outsourced-accounting-services">auditing
and accounting outsourcing companies</a></b></span><b> </b>make financial data compliant and ensure the organization’s security.<o:p></o:p></span></p>

<p class="MsoListParagraphCxSpMiddle" style="margin-bottom:0in;margin-bottom:
.0001pt;mso-add-space:auto;text-indent:-.25in;line-height:18.0pt;mso-list:l2 level1 lfo4"><!--[if !supportLists]--><span style="font-size:13.0pt;font-family:Symbol;mso-fareast-font-family:Symbol;
mso-bidi-font-family:Symbol">·<span style="font-variant-numeric: normal; font-variant-east-asian: normal; font-variant-alternates: normal; font-kerning: auto; font-optical-sizing: auto; font-feature-settings: normal; font-variation-settings: normal; font-stretch: normal; font-size: 7pt; line-height: normal; font-family: " times="" new="" roman";"="">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</span></span><!--[endif]--><span style="font-size:13.0pt">Implementations of
process accounting and auditing software solutions will improve operational
excellence and business scalability.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><b><span style="font-size:14.0pt;
mso-bidi-font-size:11.0pt">The Bottom Line</span></b></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size:13.0pt">In this digital and technically advanced
environment, automation solutions like auto-auditing, financial analysis tools,
and many other AI-based financial reporting, compliance management, and trend
forecasting applications will all transform the traditional accounting
processes.&nbsp; &nbsp;&nbsp;</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span style="font-size: 13pt;">Leveraging the power of next-generation AI
technology, USM-SBC offers you end-to-end consulting, taxation, consulting, audit
&amp; </span>assurance, and many more financial accounting<span style="font-size: 13pt;"> &amp; advisory services.</span></p>

<p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:
18.0pt"><span class="MsoHyperlink"><b><span style="font-size:14.0pt;mso-bidi-font-size:13.0pt"><a href="https://www.usm-sbc.com/fpo-outsourcing/outsourcing">Get In Touch!</a></span></b></span><b><span style="font-size:14.0pt;mso-bidi-font-size:
13.0pt"><o:p></o:p></span></b></p>