Please view explanation and answer below.1Operations OutsourcingStudent’s NameInstitutional AffiliationCourse NameProfessor’s NameDate2Operations OutsourcingQuestion OneAs the organization grows and the financial flow increases, accounting, and bookkeepingbecome tedious, requiring financial experts. As financial flow increases, more errors are likely tobe made in the presentation of financial statements, including errors of omission, commission,double-entry et cetera. Correction or avoidance of such errors requires a qualified bookkeeperlike a Certified Public Accountant (CPA) or a Certified Investment and Financial Analyst(CIFA) holder (Thiefels, 2019). Therefore, when an organization starts recording multiple andcomplex financial transactions and cannot handle the pressure, it is the right time to outsourcehelp.Question TwoOutsourcing involves an outside organization (third party), separate from the primaryorganization performing management and transaction operations on behalf of the primaryorganization. On the other hand, insourcing places new operations onsite within the primaryorganization. Additionally, outsourced operations differ in terms of access to specific data. Forexample, an outsourced CPA has access to books of account and cannot interfere with any otheroperation (Beers, 2020). Alternatively, an outsourced marketing manager has no control over theresources. Depending on the area where labor-boosting is required, outsourced operations differfrom each other.Question Three3Most organizations` goal is to make profits. Whethe…
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