Accounting system has been the most vital component of any business establishment, its indispensable part of the business entity. However nowadays the accounting system is not restricted to basic bookkeeping and entry of transactions, now it is expected much more from the accounts department. The expectation mainly pertains to having such financial advice affecting the business strategies to be formulated for the future run of the company. The formation of such a business strategy is very important in order to stay competitive and ahead in today’s market. Unlike traditional system of hiring different consultants or professionals for different accounting services and connected financial services, now due to high competition in the market the basic account services like tax compliance, tax preparations and bookkeeping are becoming customized. What is meant by Virtual CFO? Virtual CFO is the qualified financial person, capable of handling and providing all kind of financ...