Accountancy isn’t something that is taken lightly but it is no rocket science either and is an integral part of every business organization in existence because it is important to maintain your accounts at the end of each financial year so that the balance sheet will be presentable.
It isn’t easy to run a business empire as it requires putting everything on the line if the situation calls for it but when circumstances get beyond your control then you need to take a step beyond the peril.
It is the job of a successful business org to employ accounting firms to look after the ledger books and anything related to finances and it is this factor that plays a huge role in making the business successful so that surplus incurred at the end of the year is more than deficit.
When it comes to accounting services, there are plenty out there that people aren’t aware of because they are new to the business world and hardly do extensive research before starting their own business.
Therefore, let’s look at some significant service firms in the business that you can find in a business and that has a vital role to play in making it soar high in the market world.
Public Accounting Firms are the first in the list whose job is to look after auditing, tax and financial management for which they employ Certified Public Accountants or CPA and they are categorized as the ‘Big Four’ that are:
- Ernst and Young
- Deloitte Touche Tohmatsu
- PriceWaterHouse Coopers
Tax Accounting Business comes next because they are tasked with planning and preparing tax slabs for the company and its employees with different sizes based on designation where again CPAs play a key role in maintaining accounts and one main duty of theirs is to follow tax laws that are currently listed out by the government.
Forensic Accounting Services hire CPAs that have detective skills to unearth illegal and fraudulent activities and transactions like phishing, identity theft, money laundering, tax evasion, etc. so osaühingu raamatupidamine ja maksud is a good addition.
Bookkeeping is the final one that records all financial transactions done in the current fiscal year.