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REMOTE PAYMENTS WILL SURPASS $6 TRILLION COME 2024

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PAYMENTS

With commerce shifting to online platforms, more shoppers are expected to pay for items through remote transactions, according to a study by Juniper Research.

Remote payment is any payment transaction conducted through the web or otherwise made through any gadget that can enable distant communication.

According to the study, titled Mobile & Online Remote Payments for Digital & Physical Goods 2019-2024, these kinds of transactions will surpass $6 trillion come 2024. This digit represents an expansion of over 50 percent from this year’s results.

Physical goods will dominate ecommerce sales and are projected to make up an entire 80% of web-based business purchases come 2024.

The research also cited the surge in the count of smartphone owners –anticipated to go up by 60% from 2019 to 2024— as a major driving factor behind remote payments. Only 20% of purchases will occur through desktops, laptops and connected Televisions come 2024.

Juniper Research is a UK-based research company that hosts multiple studies every year to analyze ecommerce market trends.

According to the Researcher, the transformation to mobile platforms has changed customer buying habits, with the average transaction value projected to drop by 2024. Mobile ticketing is responsible for this upsurge in remote payments and drop in average transaction value.

HOME DEPOT RANKED MOST TECH-SAVVY BRICK-AND-MORTAR

The study also involved an assessment of the digital approaches of 25 popular physical-store retailers. Juniper Research sought to compare how innovative and agile these retailers are.

Home Depot emerged number one due to its proactive online business approaches and the incorporation of new tech like analytics to streamline ecommerce shopping experiences.

“Physical stores must go beyond traditional e-commerce and adopt new market practices,” says Morgane Kimmich, the lead author of the study.

CONCLUSION

$6 trillion is a large figure but not for a market growing as fast as ecommerce.

And once again, Juniper Research has proven that mobile will be the major driver of sales of digital and physical ecommerce products in the coming few years.

Meanwhile, retailers are being advised to adopt new strategies and make the most of the rich pool of data to grow their bottom line.PAYMENTS

Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest rated high risk merchant account provider in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.

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Accounting in 97227 Navigating Financial Landscapes

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Accounting in 97227 Navigating Financial Landscapes

Introduction

In the intricate world of business, Accounting in 97227 Navigating Financial Landscapes stands as a beacon of financial clarity. Whether you’re a small startup or a large corporation, understanding the nuances of accounting is vital for sustained success. Let’s embark on a journey through the basics, challenges, and innovations in accounting, specifically focusing on the unique landscape of 97227.

Understanding the Basics of Accounting in 97227

At its core, accounting is the language of business. It involves systematically recording, analyzing, and interpreting financial transactions. The principles of accounting provide a framework for accurate financial reporting, aiding decision-making processes within organizations.

Evolution of Accounting Standards

The history of accounting standards is a testament to the ever-evolving nature of financial practices. From ancient record-keeping methods to the modern Generally Accepted Accounting Principles (GAAP), the journey has been transformative. Understanding these standards is crucial for businesses in 97227 to ensure compliance and credibility.

Accounting Practices in 97227

In the vibrant business landscape of 97227, accounting plays a pivotal role. From startups to established enterprises, meticulous accounting practices contribute to financial stability and growth. Let’s delve into the unique aspects that make accounting indispensable for businesses in this area.

Challenges Faced in Accounting

While accounting provides a roadmap to financial success, it is not without its challenges. From complex tax regulations to the intricacies of financial reporting, businesses often grapple with various issues. However, proactive solutions can turn these challenges into opportunities for improvement.

Technology and Accounting

In an era dominated by technological advancements, accounting has not been left behind. Innovative software solutions streamline processes, enhance accuracy, and provide real-time insights. The intersection of technology and accounting is shaping a more efficient and responsive financial landscape.

Key Components of Financial Statements

Financial statements are the lifeblood of accounting. Income statements reveal profitability, balance sheets provide a snapshot of assets and liabilities, while cash flow statements track liquidity. Understanding these components is vital for informed decision-making.

Taxation and Accounting

The symbiotic relationship between taxation and accounting cannot be overstated. Accurate accounting practices lay the foundation for smooth tax compliance. In 97227, businesses must navigate the intricate web of tax regulations, emphasizing the need for precision in accounting.

Role of Accountants in 97227

Professional accountants are the architects of financial stability. Their responsibilities extend beyond number-crunching to strategic financial planning. Businesses in 97227 benefit significantly from the expertise of accountants, ensuring fiscal health and compliance.

Small Business Accounting Tips

For small businesses in 97227, sound accounting practices are a cornerstone of success. Budgeting strategies and meticulous record-keeping contribute to financial resilience. These tips empower businesses to navigate economic fluctuations and achieve sustainable growth.

Financial Planning and Forecasting

Accounting isn’t just about recording past transactions; it’s a tool for future success. Through effective financial planning and forecasting, businesses in 97227 can anticipate challenges, identify opportunities, and strategically position themselves for growth.

Ethics in Accounting

Ethics form the backbone of credible accounting practices. Unethical conduct can have severe consequences, tarnishing reputations and leading to legal repercussions. In 97227, businesses are recognizing the importance of ethical accounting as a long-term investment.

Emerging Trends in Accounting

The dynamic nature of accounting is evident in emerging trends. Sustainability accounting, focusing on environmental and social impacts, is gaining prominence. Additionally, blockchain technology is revolutionizing transparency and security in financial transactions.

The Future of Accounting in 97227

As we gaze into the future, the role of accounting in 97227 is poised for further evolution. Businesses must adapt to emerging trends, embracing technological innovations and ethical practices to thrive in the ever-changing financial landscape.

Conclusion

In conclusion, accounting in 97227 is not merely about numbers; it’s the backbone of financial success. From addressing challenges to embracing innovations, businesses must prioritize robust accounting practices. As the future unfolds, staying informed and agile in the world of accounting will be the key to sustained prosperity.


FAQs

  1. Why is accounting important for businesses in 97227?
    • Accounting provides a clear financial picture, aiding decision-making and ensuring compliance with standards.
  2. How can small businesses benefit from professional accounting services?
    • Professional accountants offer expertise in financial planning, budgeting, and compliance, enhancing the success of small businesses.
  3. What are the emerging trends in accounting for 97227 businesses?
    • Sustainability accounting and blockchain technology are gaining traction, shaping the future of financial practices.
  4. How does technology impact accounting in 97227?
    • Technology streamlines processes, enhances accuracy, and provides real-time insights, transforming the efficiency of accounting practices.

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