The United states has a diversified number of accounting companies offering consultancy services. They are classified mostly according to the services provided. These include the full service accounting firms, tax firms, risk management firms, audit firms, business processing through outsourcing firms, and business development firms. These are all services provided to the businesses based on the providers’ accounting expertise.
Accounting companies are run by individuals who provide these services, either on their own or through the services of hired personnel. There are many firms, both large and small, catering to international clientele. They usually have multiple other services also. Multinational firms operate according to this model. Domestic firms, when large enough, also act as consultants, besides providing accounting services.
Full Service Consultancy Firms
Ernst & Young is a full service accounting firm which provides multiple services for accounting companies. It is one of the top four accounting firms in the United States. The services they offer include tax consultancy, audit services, risk management services, business development consultancy, and executive coaching services. They have offices all over the world, except in the region of Antarctica. Firms with diversified services had a more numerous clientele during the recession, because of the variance in service options.
Tax Firms For Accounting Companies
These firms exist for providing tax services. Their expertise is on the tax front. They offer tax services to individuals, to businesses, and to high net worth individuals. They also help individuals in the tax areas in estate planning.
H&R Block is a tax firm which provides tax services to individual tax filers. They also take up tax services to business houses, but mainly specialize as tax service providers for the individual. And there’s Margolis Phipps & Wright in Houston, who have also specialized as service providers for high net worth individuals. Tax firms offer specialty services for a variety of clientele. Tax services are provided for federal, state, and franchise securitization, and for many other areas of compliance.
Outsourced Accounting Consultancy Service
There are outsourced firms which provide accounting service to the client, in completing accounting work. They do the accounting for the entrusting business, either at the premises of the client or at the office of the firm. The working accountant stays as the staff of the accounting firm. Services usually comprise full cycle accounting, Chief Financial Officer service, or business development service.
The services offered under accounting consultancy are highly diversified, and assume competitive heights, with many companies continually vying for clients.