Recent TRG blog posts

Companies operating in the logistics and transportation industry such as airlines, cruise liners, railways and shipping/trucking firms face several accounting and operational challenges that can impact their net earnings. That is why it is critical that good accounting practices are followed to manage their cash flow and liquidity. 

Establishing a budget can be quite daunting, as is selecting the optimal budgeting method that aligns with your business' unique model and requirements. In this blog article, we will delve into the five most prevalent approaches to budgeting, delving into their advantages and disadvantages.

Thanks to advancements in technology and the process of globalisation, people are now more interconnected than ever. As a result, workplaces are becoming increasingly diverse and inclusive, with individuals from various nationalities, cultures, genders, experiences, and personalities coming together under one roof. This transformative trend has compelled corporations to rethink how they manage their talent resources to leverage the benefits of multicultural perspectives.

Read more: More diversity and inclusion in the workplace challenges to discover

Tracking intercompany transactions is perceived as one of the most common problems with financial consolidation. Intercompany transactions are transactions that happen between two entities of the same company. Not adjusting intercompany transactions results in consolidated financial statements that do not offer a true and fair view of the group’s financial situation.

The role of CFOs today has evolved significantly, becoming more dynamic and responsive to changing demands from internal stakeholders and external customers. The modern CFO is now involved in strategy creation and business transformation initiatives, acting as a strategic advisor to the CEO and the rest of the C-suite.

In recent years, the concept of working remotely has gained significant traction and popularity among professionals across various industries.

As hotels grow, the volume and complexity of financial data increase significantly. Typical spreadsheets or basic accounting systems cannot handle the scale and complexity of a growing hotel, leading to inefficiencies, errors, and reporting challenges. 

Bank reconciliation is a vital aspect of financial management for any business, and it involves comparing the balances and recorded transactions of a company's external bank statements to the cash balances and transactions recorded in their general ledger.

Accounts receivable is the lifeblood of any business. Establishing a proper account receivable management process allows you to take control of your cash flow and streamline payments and invoicing. However, many find the process daunting.

Businesses today rely heavily on cloud solutions, applications, and services to drive their operations, enhance collaboration, and deliver seamless customer experiences. To support these technologies effectively, a powerful and agile cloud infrastructure is crucial.