In an unpredictable global economy, businesses need to stay agile and adaptable. The haunting specter of a recession is something that keeps many business owners awake at night. Yet, some businesses seem to navigate economic downturns with resilience, while others falter. A significant factor that differentiates the two is the foresight to innovate, economize, and […]
The Role of Outsourced Accounting in Scaling Your E-commerce Venture
In today’s digital age, the e-commerce industry has demonstrated significant growth, paving the way for new opportunities and challenges alike. In 2021 alone, e-commerce sales amounted to $5.2 trillion worldwide, and this number is expected to reach about $8.1 trillion in 2026. One of the most considerable challenges an e-commerce venture faces, especially during scaling […]
Why E-commerce Companies Should Outsource CFO Services: A Strategic Move to Drive Growth and Profitability
The world of e-commerce is exciting, fast-paced, and filled with opportunities for business growth. However, it also brings its own unique challenges in areas such as financial management, cash flow optimization, and strategic planning. By 2026, the global e-commerce business is expected to total $8.1 trillion. As e-commerce grows, the need for stable financial planning […]
Maximize Profitability in a Recession: Accounting Insights and Strategies
Recessions can be challenging times for businesses, as economic uncertainties and market downturns create obstacles to maintaining profitability. However, with strategic accounting practices, it is possible to navigate these difficult periods and even maximize profitability. Here, we will explore valuable accounting insights and strategies that can help businesses thrive during a recession. Fully Accountable specializes […]
Surviving a Recession: How an Outsourced CFO Can Strengthen Your Financial Strategy
During times of economic downturn, businesses face numerous financial challenges that can significantly impact their long-term viability. A recession brings about uncertainties, shrinking profit margins, and the need for strategic financial decision-making. In such circumstances, having a strong financial strategy becomes crucial for survival and future growth. One effective solution is to engage the services […]
Sustainable Financial Growth in a Recession: Key Accounting Approaches
In times of economic uncertainty, businesses face numerous challenges in maintaining financial stability and achieving sustainable growth. Recessions impact small businesses the most, with the Great Recession of 2008 being responsible for shuttering 1.8 million small businesses. It’s a harrowing thought, yet there is more you could be doing to prevent this from happening. However, […]
Understanding a Financial Statement Audit
Presenting accurate financial statements is the backbone of any successful company. For one, doing your due diligence is your duty to investors and stakeholders, but just as important is following the laws and regulations that govern financial reporting. That is especially true for public companies, as federal bodies such as the Securities Exchange Commission demand […]
Finance vs. Accounting: What’s the Difference?
As you evaluate your company’s financial needs, it can be stressful to determine where to invest your money. You can improve your company’s financial outlook in many ways, but hiring an accountant or a financial analyst can make a significant impact. While similar in many respects, accounting and finance handle financial information in distinct ways. […]
What Are the Types of Accounting Software?
If you’re trying to streamline your finance department, accounting software is an essential component. The fast-paced business environment of today demands you automate elements of your accounting department so you can focus on larger initiatives and your bottom line. As a business owner, you need time to focus on sustainable growth and long-term financial viability. […]
What Software Does a CFO Use?
Software tech stacks have never been more integral for businesses. And they’re only going to become more important. Your business, regardless of its size, needs technology to survive in today’s landscape. But what software does it need, does your financial team have the necessary expertise to ensure you take advantage of software, and would you […]
How Do You Automate Your Accounting Processes?
No matter what industry you’re in, speed is critical. Whether you need to make short or long-term decisions, the modern business world demands automation. Without automation, the speed of the modern world will drown your business. This is especially true when it comes to data-driven aspects of your business, such as accounting and your financial […]
How Much Does an Outsourced CFO Cost?
You know you need a CFO but don’t know if you can justify bringing on a full-time employee. You’re facing financial challenges and need a financially-minded strategist in your corner. If this sounds like you, an outsourced CFO might be your best. But how much do outsourced CFOs cost? How much outsourced CFOs cost depends […]
What are APIs and why should accountants care
Technology connects the world. APIs facilitate that connection. But “what is an API,” you ask? API stands for Application Programming Interfaces and these platforms create connectivity between applications to increase efficiency, automate tasks, and improve the work environment for accounting practitioners. In this blog, we’re diving into APIs: what they are, why they matter for […]
How Is Technology Shaping the Future of Accounting?
In the future, technology will no doubt be a critical component of every business. Accounting will be no different. In this blog, we’re uncovering technology used in accounting. These technologies stand to shape the future of the industry. From cloud computing to automation, blockchain technology, and beyond, the future accountant will have to modify their […]