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Types of Accounting Services Used by Businesses

in Sydney NSW Accounting Services

Accounting is a financial specialization that can be used for a variety of purposes. There are different forms of accounting, each form is intended to solve a specific purpose in a specific domain of accounting. Accounting services can be broadly categorized into the following:

Bookkeeping Accounting: Bookkeeping accounting service is meant to fulfill the basic accounting needs and is used to maintain accuracy as well as the integrity of the accounting data and information. In some business settings, a bookkeeping professional may work in close conjugation with an accounting professional spearheading all the accounting activities in the accounting department, including all the tasks related to bookkeeping.

Chartered Accounting: Chartered accountants are highly-qualified accounting professionals that have sufficient hands-on experience in managing complex business accountants, engaging in their audits, etc. Note that a concerned authority licenses a chartered accountant to carry out accounting services in any business setting. A chartered accounting

Forensic Accounting: This type of accounting is used for the identification of any discrepancy in the accounting information. The discrepancy may also include any accounting information missing from the records. Therefore, chartered accountants (or CAs in short) are experienced in doing the sanity checks of your business accountants, including identifying any missing information.

Tax Accounting: As the name suggests, tax accounting is used for the purpose of tax planning. Accounting Services in Sydney NSW can help you fulfill all your tax-related needs, including filing your returns and helping you avoid paying any unnecessary taxes that can be avoided by comprehensive accounting.