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Outsourcing of the Accounting and Financial Function

Author

Listed:
  • Leliana Diana Bolcu

    (“Valahia†University of Targoviste)

  • Mihaela-Raluca Boharu (Mircea)

    (“Valahia†University of Targoviste)

Abstract

Accounting and financial outsourcing consists of the full or partial transfer of administrative, financial and accounting functions to an external service provider as part of a service contract. Because accounting and financial functions are standardized and coded by nature, they are particularly suitable for outsourcing. Using the services of an accountant is one of the oldest practices of functional business outsourcing. The aim of this paper is to determine the important role of outsourcing accounting services for better flexibility, this practice remaining more relevant than ever. Thus, companies outsource mainly for cost control reasons, to reduce them, and then to turn fixed costs into variable costs. Thus, outsourcing will allow a strategic concentration of the company's structural resources on its core business. A rigorous internal analysis precedes the outsourcing process. This strategic thinking will define the framework of the tasks to be outsourced on a time and financial scale.

Suggested Citation

  • Leliana Diana Bolcu & Mihaela-Raluca Boharu (Mircea), 2021. "Outsourcing of the Accounting and Financial Function," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 953-961, December.
    • Handle: RePEc:ovi:oviste:v:xxi:y:2021:i:2:p:953-961
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    References listed on IDEAS

    as
    1. Véra Ivanaj & Yvette Masson-Franzil, 2006. "Externalisation des activités logistiques : analyse conceptuelle et propositions testables dérivées de la théorie des couts de transaction," Cahiers du CEREFIGE 0603, CEREFIGE (Centre Europeen de Recherche en Economie Financiere et Gestion des Entreprises), Universite de Lorraine, revised 2006.
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      More about this item

      Keywords

      outsourcing; company; accounting function; services;
      All these keywords.

      JEL classification:

      • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
      • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
      • M49 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Other

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