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The benefits and drawbacks of finance and accounting outsourcing
Finance & Accounting
Pages 4 (1004 words)
Name Tutor Module Date Abstract This paper gives a brief introduction and consideration regarding outsourcings, with focus on the fiance and accounts work. Further on, it provides discussion as well as description related to the pros and cons of outsourcing, Keywords: Outsourcing, pros & cons Outsourcing Introduction It seems to be the trend for small and medium sized companies or business that they outsource that they outsource specific niche activities of their business like tax planning, legal assistance and financial portfolio.
Outsourcing of core business activities was seen to be trend of SMEs however it is evident that today even larger organizations outsource their core functions as these activities are seen to be burden for the management. In the present business or corporate world competition has increased thus the managements are more inclined in utilizing their time for the business and competitive strategies thus they find outsourcing a feasible option however before making any such decision both the pros and cons of outsourcing core business activities like accounting/finance must be analyzed and then it should be decided whether to keep them in-house or outsource. Considerations for Outsourcing Finance/Accounting It is not just burden of working and maintaining records that has to be considered before making the decision for outsourcing there are mixture of risks and rewards involved that must be analyzed. ...
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