Accounting firm services provide the sale of accounting services and related goods by entities like organisations, sole traders, and partnerships that involve the recording and analysis of financial transactions and other financial values related to businesses and organisations. These services include analysing, auditing, summarising and reporting financial transactions, preparation of financial statements, designing, and developing and implementing accounting services.
This sector provides the knowledge and the skill of their employees, usually on a project or assignment basis, and the individual or team is responsible for delivering the services to the client. The growth of the global accounting firm services is expected to increase in the forecasted period due to the rise in Mergers & Acquisitions(M&A), financial reporting standards transitions, and advancement of technology in the sector.
Key Players of Global Accounting Firm Services Market =>
The accounting firm services market can be segmented on the basis of type, channel, and application of the services.
Based on type, the market can be split into:
Among these segments, the payroll and bookkeeping services own the largest share of the market.
Based on the channel for providing services, the market can be segmented into:
On the basis of application, the accounting firm services market is split into:
The global accounting firm services market can be regionally analysed by dividing it into the following regions – North America, Europe, China, Japan, Southeast Asia, India and Central & South America. Among these regions, North America accounts for the largest market share of accounting services, followed by Europe. This is mainly due to the high demand in bookkeeping, tax return preparations, and payroll processing from both commercial establishments and the government, along with the rising requirement for tax filings from the customers. The trend is predicted to continue in the forecasted period as well.
There is a growing trend of outsourcing at accounting firms, and accounting companies are now collaborating with technology companies. Apart from this, the digital tax economy trend is also expected to pick up. With these new trends, the global accounting firm services market is expected to witness significant growth in the forecasted period.
Major Key Players of Global Accounting Firm Services Market
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