Accounting services are necessary to both large and small companies. The main services to assist companies to keep organizations on track regarding financial accounting, financial reporting, organization expen
ses, and bookkeeping. Professional professionals also give advice to small start-up companies on the appropriate investment and strategy for their company to guarantee long-term financial security. There are various accounting services and accounting packages offered by different firms and individuals and the choice depends on your personal requirements and business goals.

Most accounting services provide financial reporting services. It includes preparation of periodic reports such as the statement of cash flows and balance sheet analysis, preparing the income statement, reconciliation of cash flows, presentation of financial statements, and other technical and clerical assistance. Most accounting services provide management guidance on strategic planning, budgeting, investment, mergers and acquisitions, dispositions, licensing, partnership agreements, ownership and control, tax accounting services, and internal controls. Professional accounting services employ people with an accounting background, industry knowledge, and information technology skills.

In the United States, accountants are generally employed by state tax authorities and counties to audit their client's records and prepare the required reports. Accountants perform examinations, collect evidence, and test the co-owners or beneficiaries of an estate for fraud. The forensic accounting services can be utilized to determine ownership of real estate, to review tax documents, to examine the way someone else conducted business, or to trace the chain of custody documents. Forensic accountants are also hired to determine if someone stole from a business.

Another kind of accounting service is the payroll tax accounting. This type of accounting helps the federal and state tax authorities to prepare reports and to collect data that will help them prepare for the tax season's revenue estimates. Most business accounting services employ persons that are certified public accountants or CPAs. Certified public accountants (CPA) have a three year degree from an accredited program and take an exam that proves them to be accountants.

A business accounting service, in addition to providing CPA services, can also provide bookkeepers. Bookkeepers record financial transactions of a company by entering the information in a bookkeeping journal. Most bookkeepers are employed by a single company, but some accountants work for many accounting firms at one time.

Many accountants use computer software programs to enter financial information into the computer systems, while others manually enter the financial information. Some firms hire an outside consultant to perform auditing of its accounting practices and maintain a spreadsheet that shows all of the information entered into the computer systems. The accounting service will provide the necessary accounting software programs, as well as accounting training, continued support after an audit, and advice on how to improve the business's accounting practices.