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What are the types of accounting firms?

The truth is that accounting offices play an active role that is almost the most important part of all companies. Whether you have a chartered accountant for your company or deal with an independent accounting firm is something that entrepreneurs understand. Accounting offices provide various services (accounting consultancy, tax consultancy, legal consultancy) according to their specialization and the field in which they operate. The field of accounting has become popular in this era to the extent that university graduates are establishing accounting firms.

Tax Accounting

Whether your company is small or large, you certainly need someone to handle your tax file, and this is what tax accounting offices do. Every period the tax laws change in the country in which you work, so it will be the responsibility of the tax accounting office that handles the affairs of your company to always see any new laws issued, and you will not worry about these matters, and your company will remain safe without exposure to any legal accountability.

Forensic accounting

We all read every day about share price manipulation, money laundering, embezzlement, and corporate fraud by an employee. In the event that your company cooperates with a criminal accounting office, you can detect any manipulation that occurs within your company. The task of forensic accounting is to detect fraudulent operations.
Accounting books: They are often small accounting offices, where they undertake simple accounting tasks as follows:
* Accounts receivable, payable and payroll preparation.
* Bank reconciliation and credit sales settlement.
* Preparing financial statements and loan package.
* Occasional accounting duties for clients.

Managerial Accounting

Management accounting collects data and reports in order to serve management in achieving its goal and assisting it in planning and making important decisions. This department also develops future plans that ensure increased profits and avoid exposure to financial risks. The most important role is for management accountants to monitor the company’s activity and compare actual results with expected results.

Financial Accounting

This type is divided into two parts (cash accounting and accrual accounting), each of which has specific tasks. The Financial Accounting Department provides the financial statements so that investors and customers can see the financial condition of the company. The financial statements include (income statements, balance sheet, cash flow, and retained earnings).

government

Government accounting is one of the most important types of accounting, as the state relies on it in evaluating its financial accounts, and it does not aim for profit without preserving the state’s resources in various government agencies. Government accounting helps the state to tighten control over its resources in the various government departments.

Accounting office conditions for classification No. 1

The core of the office’s social responsibility lies in our commitment to honesty, integrity and respect in all dealings with customers, employees and the wider community.

Social responsibility of accounting offices

We work to combine economic success with social responsibility, to ensure sustainable development and contribute to a better future for us and for future generations. We help to improve society by taking a proactive stance in our societal role, and not only by fulfilling the primary responsibility we have to respect the human rights of our employees and abide by the laws