Accounting or Accountancy is the procedure of computing, processing, and transmitting monetary and non-financial information related to economic institutions like corporations and other businesses.
An accounting firm is a company of accounting experts and professionals who are ready to provide money management assistance to their clients to make them remain financially ordered, tax complaints, and help to prepare for business growth and development.
Now the question is what need arises for a company to hire the services of an accounting firm. Whether it is a small business or a bigger one, all business owners should take accounting firm services to avoid taking any wrong decisions which may affect their business significantly. Many business company owners, especially small or new business owners try to deal with all finances of their company on their own. They speculate that their business is smaller and they can supervise their funds and demonstrate their appropriate budget for their functioning. But it doesn’t need to guarantee good results. Though it is under budget and easy to manage financial problems themselves, however, sometimes, one wrong decision may harm their business in a significant manner. Therefore, it is intelligent to get an accounting firm to handle their business’ finances and other related matters.
In America, there are more than 138, 000 accounting companies, but to become a successful and top accounting firm is not less than an accomplishment. The firms that reach a such high level must have attained it through mergers, regular growth, and acknowledgment.
Here are the best accounting firms in the USA that deal with clients’ payroll, accounts payable, accounts receivable, taxes, and many other services and also offer advice or auditing.
Deloitte is among the top four accounting companies and the largest professional accounting services network in the world based on its revenue. It has a large number of professionals and has headquartered in London, England. Its headquarters in the US is located in New York with 80 offices all over the states. Deloitte offers many financial and non-financial services including tax, consultation, audit & assurance, risk & financial advisory, AI & analytics, cloud, and many others to its clients. In the United States, Deloitte is one or more than one of the US member firms of DTTL, their related entities that function using the ‘Deloitte’ in the US, and their respective affiliates. Deloitte is providing extensive proper training, on-the-job training, mentoring session, and other benefits. Deloitte, one of the best accounting firms in the US, is devoted to educating its professionals and staff members on DE&I issues and is a member of OneTen, which is an organization with the mission to upskill, hire, and advance one million Black Americans in the next ten years. Deloitte currently stands in the top position carrying annual revenue of approximately 13, 067 million USD. It earned a revenue of 50.2 billion USD in FY 2021.
2. PWC (PricewaterhouseCoopers)
PWC is the second-largest accounting firm based on annual revenue which is approximately 43.03 billion USD in 2020 and is among the best accounting firms in the US. Its headquarters is located in the UK. Its legal professional is working both in the US and the UK in both limited liability partnerships. The firm employs around 276, 000 professionals and experts in 158 countries worldwide. It is working in the US with 35, 000 employees out of 73 offices currently. This firm also works in several countries locally, too. PwC is mainly focused to provide consultation, better assurance, and tax services. It is dealing and practicing in the global advisory market at a huge level. The significant services PwC is providing include banking & capital markets, Asset management, health industries, financial services, power & utilities, insurance, private equity, retail & consumer, public sector, and technology. It manages global trademarks and creates initiatives and policies in areas such as risk, quality, and strategy to produce a common and synchronized approach. It does not serve clients. Its US-based offices operate to improve risk management, and the firm has launched a collaboration with MetricSteam Inc. It also has announced to join Microsoft to come up with the collection of services in the tax division.
2. Ernst & Young
Ernst & Young is also one of the largest multinational accounting companies with its headquarters in England. Its US headquarters is located in New York with more than 29, 000 employees. EY is providing consultancy, tax assurance (financial audit), and advisory services to its customers. In 2019, EY was the seventh biggest privately owned company in the United States. It has maintained to be ranked on Fortune magazine’s list of the 100 best companies to work as an accounting firm for 21 years. Ernst & Young offers business risk, audit, technology, and security risk services, tax, and human capital services across the globe. back in 1900 Scotsman Arthur Young and American Alwin Ernst established their separate companies and later merged in 1989. Today, it is working in more than 150 countries and is one of the best accounting firms in the US.
KPMG is on fourth number among the best accounting firms in the US producing revenue of more than 5750 million American dollars. It employs approximately 25000 professionals working in 90 offices in the United States. Its headquarters is located in New York City, NY. KPMG signed a planned collaboration with BlackLine Systems, a financial close process controller. KPMG is offering its services to several leading multinational organizations and financial investors on an event-driven and recurring basis. Its advisory and tax services are subdivided into many other service groups. KPMG with its headquarters in Amstelveen, Netherlands, integrated into the UK, is a network of firms working in 147 countries and offers three regions of services including tax, financial, and advisory.
4. RSM US LLP
RSM is the fifth largest accounting firm in the US with 12, 000 employees in 86 cities across the United States and in Canada. RSM US LLP is a tax, audit, and consulting firm focusing on the middle market in the US. It is one of the best accounting firms in the US and is a member of the global accounting network RSM international. The firm is providing its services through 43, 000 professional experts working from 800 offices located in over 120 countries. RSM US was formerly named McGladrey, and RSM UK was formerly named Baker Tilly LLP. Together, they are working in North American, Asia Pacific, and European regions with revenue of 4.87 billion dollars in 2016.
5. Grand Thornton
Grand Thornton is the seventh largest and the sixth largest accounting company producing annual revenue of over 1,245 million dollars. The firm offers tax, audit, and advisory services. The advisory services significantly include Sarbanes-Oxley compliance, tax, mergers and acquisition advice, and business valuations. Their clients include distribution, energy, construction, food and beverages, healthcare, financial services, life sciences, hospitality and restaurants, manufacturing, private equity, non-profit organizations, real estate, public sector, retail, transportation, and technology. Grand Thornton attained a big name in organics and M&A and launched a global brand currently. The headquarters of Grand Thornton is located in Chicago and is one of the best accounting firms in the US.
6. BDO (Binder DijkerOtte)
BDO stands in the seventh position among the best accounting firms in the USA. The firm has 2,771 employees working from 42 offices across the states. It has headquarters in Chicago, IL, and is led by Chief executive Wayne Berson. It is current annual revenue was reported at 618 million USD. The firm was merged into Los Angeles and New York-basedSalibello& Border helping their annual revenue. This merger resulted in tax issues for Salibello& Border.
The firm is in an international network of accounting, tax, and advisory firms performing their professional duties under the tag of BDO. BDO is the fifth largest accounting firm across the globe with firms in 167 countries, and 91,000 employees in 1,658 offices all over the world.
7. CLA (CliftonLarsonAllen)
CLA is the eight largest American accounting firm and is a professional network of accounting services. It came into being in 2012 as a result of the merger of two US firms and is among the best accounting firms in the US. It is a member of the Nexia international accounting network. It earned annual revenue of $568 million with 3,223 officials in the states in 90 offices. Its headquarters is located in Milwaukee, WI, and is led by chief executive Krista McMasters. This firm was established in 2012 with its focus on capitalizing on merger synergies and merger integration. It helped to flourish, expand, and earned higher revenues. CLA offers its services including tax, risk management, assurance, advisory, transaction support, valuation, and consultancy services. The firm’s industry division contains cooperatives, agribusiness, government entities, manufacturing and distribution, higher education, employee benefit plan, dealership, and transportation and trucking.
8. Crowe Horwath
Crowe Horwath is the ninth number out of the best accounting firms in the US. The firm headquarters is in Oak Brook Terrace, IL, and is led by chief executive Charles Allen. Its annual revenue was reported at 595 million USD and is currently working from 28 offices in the US with 2,603 employees. The firm added Dynamics automotive consultancy team from ExtOrg, a Chicago-based organization. The firm offers services such as audit, risk consultation, advisory, tax services, and performance to companies in several sectors including education, healthcare, not-for-profit, food and agriculture, construction, finance, state and local government, and private equity. Worldwide, Crowe Horwath is one of the 10 largest accounting firms.
9. CBIZ/Mayer Hoffman McCann
CBIZ/Mayer Hoffman McCann came into being after the merger of CBIZ and Mayer Hoffman McCann and is led by chief executives B. Hancock and D. Sibits. The company has its headquarters in Ohio, and Cleveland working with 4,010 employees in 133 offices. CBIZ/Mayer Hoffman McCann is one of the best accounting firms in the US with annual revenue of $645 million. The company achieved a state tax consulting group of the law firm named Dow Lohnes Price, this procurement was due to the corruption in the municipality of Bell.
These above said best accounting firms provide amazing services of accounting and auditing. They are significantly providing employment and professional development chances to accountancy professionals across the world in many sectors. The best accounting firms in the US rank top after the merger, with excellent services and acquisitions from the beginning. These firms have been striving to provide the best professional financial and advisory services to small, and large businesses all over the states and helping them to grow and expand businesses by avoiding risks caused by finance-related issues. These firms have continually been gathering revenue and experiencing economic growth over the years.