Accounting
services provide systematic and comprehensive recording of financial
transactions pertaining to businesses. The accounting services involves
summarizing, analyzing, auditing and reporting of the financial transactions
for tax collection agencies and entities. It also involves auditing and
preparing financial statements, designing accounting systems, developing
budgets and accounting advisory.
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The global
accounting services market is valued at $584 billion in 2017. Drivers of the
market are economic growth, financial reporting standards transition and
regulatory reforms.
The accounting
services market in The Business Research Company’s report is segmented into
three segments, namely payroll and bookkeeping services, tax preparation
services and other accounting services. While the first segment accounts for
nearly half of the market share, the remaining is attributed to the two
segments.
The USA was the
largest country in the accounting services market in 2017, accounting for more
than one-third of the market share. The USA was followed by Germany and UK as
the next largest countries in the market.
The top five
competitors in the market made up 15% of the total market in 2017.Pwc LLP was
the largest competitor in the accounting services market, followed by Ernst
& Young LLP and Deloitte LLP. Pwc LLP was founded in 1998 and is
headquartered in New York, USA. It operates through three divisions i.e.
advisory, audit and assurance and tax.
About The Business Research Company.
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