Digitalization of tax offices in most developed and
developing countries is evolving the role of accountants. They are increasingly
providing advisory and taxation guidance as well as traditional filing and
lodging services which have become less important with the growth of e-filings.
For instance, the Australian Tax Office will now allow e-tax. This will reduce
the manual processing of data and make the tax return process easier allowing
accountants to focus on high end tasks.
THE BUSINESS RESEARCH COMPANY EXPECTS GLOBAL ACCOUNTING
SERVICES MARKET TO GROW TO $700 BILLION BY 2021
North America was the largest
region in the accounting services market in 2017, accounting for almost half of
the market share. The reason behind this was the transition of financial
reporting standards. Nowadays more countries are aligning with international
financial reporting standards, or IFRS, or generally accepted accounting
principles, or GAAP in the United States, resulting in more demand for
accounting services. However, differences continue between these two approaches
and within countries resulting in continued opportunities for local players
with knowledge of local markets.
Read report: https://www.thebusinessresearchcompany.com/report/accounting-services-global-market-report-2018
According to The Business Research Company’s
Consultant, accounting firms should consider outsourcing basic accounting tasks
to reduce operational costs and enable customers to focus on high value
activities. Accounting service companies should consider instant chat
applications to enable real time interactions with clients and ensure faster
resolution of issues. Companies should consider e-tax filing services to
increase their service offerings and to increase their overall revenues and
reduce costs.
PricewaterhouseCoopers International Limited (PwC) was the
largest company in the accounting services market, with revenues of EUR 25.4
billion ($28 billion) for the financial year 2016. PwC’s growth strategy is to
become a technology-enabled organization by 2025, by digitalizing its business
and its services by working with companies such as Google, Oracle and
Microsoft. Going forward, PwC seeks on adding new services of IT and data
assurance and security and acquire new clients from mature as well as
developing markets.
Accounting services provide systematic and comprehensive
recording of financial transactions pertaining to businesses. The service
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. It includes offices of certified
public accountants, tax preparation services, and payroll services.
Accounting Services Global Market Report 2018 is a detailed
report giving a unique insight into this
market. The report is priced at $6000
for an individual user. To use across your office, the price is $9000 and
$12000 if you wish to use across a multinational company.
About The Business Research Company
Visit TheBusinessResearchCompany.com, mail info@tbrc.info or call +447443439350 or
+918897263534 or +919160996838 for more information on this and many other
titles.
The Business Research Company is a market research and
intelligence company, which excels in company, market and consumer research.
It has research professionals at its offices in the UK, India and
the US as well a network of trained researchers globally. It has specialist
consultants in a wide range of industries including manufacturing, healthcare,
chemicals and technology.
The Business Research Company's management has more than 20 years
of varied business research experience. They have delivered hundreds of
research projects to the senior management of some of the world's largest
organizations.
Contact
Information.
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Email: info@tbrc.info
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