An accounting firm is a group of certified public accountants created to provide accounting, auditing, and financing services to individuals, business owners, and even large corporations. Accounting firms are constantly being hired to manage and deal with various aspects of financial issues, especially to those who have just performed their company registration and requires some initial help.
Not all accounting firms are the same. Some consist of accountants specializing in different accountancy fields, while others consist of accountants specializing in the same field. For an accountant to be able to enter into an accounting firm, specific training and experience is needed. However, some accounting firms allow employing non-passers as interns or trainees.
Now, as a business owner, do you really need to utilize the service of accounting firms? To be able to answer this question, you should know first what specific services they offer so you will know whether you would need their assistance or you can do without their help.
Below is a list of the most common services offered by accounting firms:
- Consultation about accounting, auditing, financing, and assurance services;
- Strategic advices for financial issues, sustainability, revenue generation, and outsourcing among many others;
- Internal auditing and basic financial accounting;
- Auditing assistance in the venue of transactions such as the capital market;
- Financial audit, including issuance of statements;
- Improvement in corporate and sustainability reporting;
- Legal accounting services for property and asset management;
- Dealing with immigration issues;
- Making resolutions from disputes about corporate and public laws;
- Tax accounting, management, and education;
- Financial literacy including buying, selling, lending, and investing.
Accounting firms are really a big help to individuals and entities who have no or very little knowledge of the accounting process. Make sure to review your options and get the most out of consultation with accounting firms.