An accounting firm is an enterprise established to provide accounting services to other business entities. In addition, on the basis of the contract, it is the accounting firms that are transferred part of the powers to other enterprises. In this case, the company undertakes the functions of full accounting and tax accounting and bears financial responsibility for its activities.

Accounting firms can be specialized. Such companies allow customers to significantly reduce production costs and improve the quality of their reporting. Also, firms can act as subdivisions of audit companies. The reason for the existence of such divisions is the desire for stability of income, because an audit can only provide a vision of the big picture and determine the percentage of errors. It is the accounting that reflects in detail all the economic operations of the company. Law firms that are engaged in the registration of enterprises also have such divisions.

Accounting services are often used by small and medium-sized businesses in order not to have to create their own accounting staff, and thereby significantly reduce their costs.

The list of services provided by accounting firms is quite extensive. First of all, these are services for accounting of banking and cash transactions, including opening and closing accounts, preparing cash documents for banking institutions, maintaining a cash book, etc. This includes payroll calculation, calculation of all types of taxes. Also, there are services for tax accounting, such as the formation of tax accounting registers on paper, the formation of tax reporting, and so on.

What kind of specialists are needed in an accounting firm?

One of the leading specialists in an accounting firm is the chief accountant. The financial well-being of the entire organization as a whole depends on it. This specialist maintains accounting and tax records of the company, submits and defends reports to the tax authorities, conducts personnel records management, organizes the flow of funds and ensures their safety.

The chief accountant should have a deputy who organizes and maintains accounting and tax records, controls and coordinates the work of the staff of the accounting firm.

There is also a position of an accountant-auditor. He must organize and control audits of stores, warehouses, offices, prepare documentation support, and analyze the results of inventory.

Advantages of contacting an accounting firm.

Contacting an accounting firm has several important advantages. Of course, the first thing to mention is the reduction of the cost of maintaining the accountant's workplace. All expenses, such as advanced training, the purchase of accounting software, and the payment of taxes on the accountant's salary, are now borne by the accounting firm.
In addition, in case of sudden dismissal or illness of an accountant, the company does not have to look for a new specialist itself.

An important advantage is the selection and quality of personnel. The company does not need to conduct interviews, train and monitor a newcomer on probation. According to the contract, the accounting firm must provide personnel with proper competence.

Thus, an accounting firm is an organized structure, both existing within a certain company and as a separate legal entity providing accounting and tax accounting services.