Taxes are often what come to mind when most people think about accounting. But, it is more than the Taxes. In simple words, Accounting is all about handling financial services, consulting services, business development, and many more. All sizes of organizations require accounting services according to the needs and requirements of their organization.
Many services offered by accounting companies help business owners be financially organized, compliant with tax rules, and prepared for growth. Company owners should see accounting firms as essential partners in their operations rather than just an expense for bookkeeping outsourcing.
This article will assist you in choosing the best accounting firms in USA if you have trouble controlling the finances of your small business and want assistance with bookkeeping, and other financial, and reporting responsibilities.
What is an Accounting Firm?
A team of accounting experts that offers financial management services to clients is known as an accounting company. These services might include audits, tax planning and preparation, processing payroll, bookkeeping, and advising services. These accountants may include some certified public accountants (CPAs), although not all accountants are CPAs.
The size of an accounting company frequently affects how it is structured. A single individual may manage certain accounting companies from their home. Others have thousands of employees working for them in several places around the nation or the world.
The fees that accounting companies charge their clients differ as well. Some could bill by the project, which is frequently the case when it comes to tax preparation. Depending on the service rendered, some may bill their clients an hourly fee. Some charge monthly fees for continuous services like straightforward financial reporting. The cost will vary depending on the firm’s size, the services offered, and the staff members’ degrees and qualifications.
Why do we need an Accounting Firm?
The key justifications for hiring an accounting company for your business are listed below:
- For accounting systems to be automated and structured.
- Hiring an accountant firm saves you money and time.
- Accounting firms can also provide strategies for the growth of your business.
- Accounting firms can aid you in getting ready to get capital from banks and investors.
- As an accounting firm can handle all your financial-related work, you can focus on your core business.
Services provided by an Accounting Firm
Accounting firms offer a wide range of services to help business owners stay organized financially, in compliance with tax regulations, and prepared for growth. Business owners should interview many accounting firms to choose the one that best meets their unique needs because not all of them offer all services. Here are some common accounting services :
- Tax planning and preparation
- Bookkeeping and payroll
- Consulting or Advisory services
- Business development and valuation
- Accounting services
Top 20 Accounting Firms in the USA
Deloitte Touche Tohmatsu Limited(DTTL), commonly known as Deloitte, is the largest accounting firm in USA. William Welch Deloitte established it in 1845. Deloitte employs more than 415,000 professionals across more than 150 offices around the world. It generates annual revenue of $59.3 billion in the year 2022. It belongs to the top four accounting firms.
The primary areas of Deloitte’s business are Audit & Assurance, Financial Advisory, Consulting, Risk Advisory, and Tax. Corporate strategy, marketing and sales strategy, mergers and acquisitions, innovation, and manufacturing operations, including supply chain, industry-specific service operations, infrastructure operations, outsourcing advisory and shared services, and financial management are among the additional services.
Moreover, it claims a clientele of service industry experts in fields like data analytics, cybersecurity, finance and accounting, risk, strategy, operations, etc. It provides rigorous formal training, coaching, on-the-job training, and perks. Diversity, Equity & Inclusion(DE&I) is a major priority of Deloitte. Being a member of OneTen, a group dedicated to upskilling, recruiting, and progressing one million Black Americans in the following ten years, the company is devoted to training personnel on DE&I concerns.
PriceWaterhouseCoopers, also known as PwC, is one of the biggest accounting firms in USA. Over 328,000 working professionals are employed by it in 152 different nations. PwC, which recorded revenue of $50.3 billion US dollars in 2022, is the second-largest audit company in terms of revenue. In 1988, Price Waterhouse and Coopers & Lybrand merged their companies and named them PricewaterhouseCoopers(PwC).
Its prospective offerings include Asset Management, Banking and Capital Markets, Financial Services, Industrial Products, Insurance, Power & Utilities, Private Equity, Public Sector, Retail & Consumer, and Technology Sectors. It also offers a variety of opportunities for professional development, including official coaching and mentoring, informal mentoring, top-notch training, and clear career tracks.
Moreover, PwC disclosed its partnership with Microsoft to create a portfolio of services geared towards the tax division. About a hundred thousand private and entrepreneurial enterprises as well as 86% of the Fortune Global 500 were served by this firm in 2018. The company is second in terms of revenue, but first in terms of standing and scope of services.
3. Ernst & Young
One of the world’s major professional services networks is Ernst & Young, or EY for short. It is one of the “big four” accounting companies, with Deloitte and PwC. More than any other accounting firm, EY has maintained a ranking on Fortune magazine’s list of the 100 Best Companies to Work For for the previous 21 years. American Alwin Ernst and Scotsman Arthur Young established independent businesses in 1906 and 1903, respectively. In 1989, the firms united. The company now has over 360,000 employees and operates in more than 150 nations. With a $45.4 billion revenue for the year 2022, they are in the top three.
It provides countless options for professional growth, such as coaching, mentorship, training, online learning, and experience working with an international clientele. The business offers transaction advice, assurance, tax, and advisory services (TAS). Consumer goods, financial services, real estate, life sciences, media and entertainment, oil and gas, technology, mining, metals, private equity and insurance, banking and capital markets, hospitality and leisure, medical technology, pharmaceuticals, government and public sector, telecommunications, provider care, retail and wholesale, and entrepreneurial business support are just a few of the diverse industries the company serves as clients.
With about $5,750 million in yearly sales, Klynveld Peat Marwick Goerdeler, or KPMG is in fourth place in the list of top accounting firms in USA. KPMG is a multinational professional service network. They presently have more than 265,000 employees that operate in more than 140 countries throughout the world. Its main office is in New York City, NY. William B. Thomas is the current company’s CEO. Peat Marwick International and Klynveld Main Goerdeler(KMG) merges their companies to form KPMG in 1987.
KPMG provides a range of services, including audit, tax, and consultancy. The KPMG business is noteworthy since it offers each customer industry-specific attention for first-rate accounting services. KPMG gives you the option to manage your career. Strength training, and the opportunity to swap roles, places, and practice areas are some development options. Many beneficial affinity organizations that assist women, persons of color, and LGBTQ+ people are available, and there are many wellness options.
RSM International, which has gone under the brand name RSM since 2015, is a global network of accounting firms that ranks sixth globally in terms of revenue for accountancy professional services networks. In 1964, Dunwoody, Robson Rhodes, and McGladrey & Pullen, a small network, founded RSM International. The organization underwent a restructuring in 1993 and changed its name to RSM International. The initials of three of the organization’s original founding member businesses, Robson Rhodes (United Britain), Salustro Reydel (France), and McGladrey(United States), were historically used to create RSM.
RSM presently has more than 57,000 employees that operate in more than 120 countries throughout the world. Its main office is in London, UK. Jean Stephens is the current company’s CEO. It generates annual revenue of $8 billion in the year 2022.
The main areas of services of RSM are Audit and Assurance Services, Risk Advisory, and Tax Services. Business Consulting Services, ESG, Legal Services, Outsourced Business Services, People Advisory Services, Restructuring Advisory, Specialist Services, Financial Management, Data Transformation, Cyber Security, and Transaction Advisory Services are among the additional services.
6. Grant Thorton
One of the most renowned and highly regarded accounting firms in USA is Grant Thornton. It is now ranked sixth with about $7.2 billion in yearly sales. The company has 147 offices worldwide where its more than 68,000 experts operate. Chicago, IL serves as the company’s corporate headquarters. Peter Bodin, the chief executive, now serves as its leader.
Audit, tax, and consulting services are the three service segments offered by Grant Thornton. Business appraisals and advice on mergers and acquisitions are two specific consulting services and areas of expertise. Construction, distribution, energy, financial services, food and beverage, healthcare, hospitality and restaurants, life sciences, manufacturing, not-for-profit institutions, private equity, the public sector, real estate, retail, technology, and transportation are some of the industries that are targeted.
Having an internship or position with the company can help you advance in your career. While employees receive significant mentorship opportunities and the chance to manage their careers, interns gain practical experience and a clear understanding of what it’s like to work for the company full-time. If you do well, you may advance very fast in your career.
7. BDO(Binder Dijker Otte)
One of the biggest consulting and accounting networks in the world, BDO International Ltd., includes BDO USA in its network in 1910. BDO operates in over 164 countries as a distinct legal body with membership and employs over 111,000 professionals. BDO operations in the USA generated $12.8 billion in sales in addition to having a superb reputation. Its main office is in Chicago, Illinois. Chief executive Wayne Berson is in charge of them.
In addition to assurance, transaction advising, tax, investment banking, and corporate real estate, BDO USA offers a comprehensive range of accounting services. The company works with many different types of clients, including those in the gaming, consumer business financial services, hospitality and leisure, healthcare, life sciences, government contracting, manufacturing and distribution, education, nonprofit, natural resources, public sector, restaurants, real estate and construction, technology, and private equity industries.
With its internship program, students gain practical experience while assisting senior management. Its full-time employees have access to formal mentorship, informal coaching, and in-depth training. BDO actively promotes humanitarian endeavors and diversity, and it has a multicultural team that includes partners who identify as LGBTQ+ and come from a variety of racial and ethnic backgrounds.
8. Clifton Larson Allen(CLA)
CLA is the eighth-largest Accounting firm in USA and comes in at number 12 on the list of top businesses. In 2012, the companies of LarsonAllen and Clifton Gunderson merged to become the organization. Dual headquarters were formed in Minneapolis and Milwaukee as a result of the merger. More than 6100 employees work for this major company across 120 sites worldwide. In 2022, it will generate $865 million in yearly sales.
They provide a wide range of accounting services, such as tax preparation, risk management, assurance, consulting, advice, and valuation. They collaborate with businesses from a variety of sectors, such as cooperatives, dealerships, agriculture, employee benefit plans, health care, government agencies, manufacturing and distribution, haulage and transportation, nonprofit organizations, and higher education.
9. Crowe Horwath
The ninth spot in the top 20 is held by Crowe Horwath. It was founded in 1942 and is a public accounting, consulting, and technology organization. In 2022, the company recorded $1.062 billion in yearly sales. They presently have 42,000 employees that are spread throughout 130 different nations. The company is based in Chicago, Illinois, and Mark Baer serves as the chief executive.
For businesses in a variety of industries, including construction, education, finance, food and agriculture, health care, manufacturing and distribution, not-for-profit, private equity, and state and local government, the firm offers audit, advisory, performance, risk consulting, and tax services.
10. CBIZ/Mayer Hoffman McCann
One of the most well-known accounting, tax, and consultancy businesses in the United States is CBIZ. In addition to several suburbs, the company is present in the majority of the country’s main cities. Together, CBIZ and Mayer Hoffman McCann PC, who founded the firm, are among the top 20 accounting service providers in the US and provide outsourced business services such as tax preparation, accounting, and consulting. Cleveland, Ohio serves as the company’s corporate headquarters. In 2022, it will generate $1.41 billion in yearly sales. It now employs 4800 employees in 133 offices around the country.
Together with a wide range of services including benefits and financial services, insurance services, and more, the organization provides great coverage. The company offers private equity firms and businesses in their portfolios assistance with operations, human resources, and transition-focused finance solutions.
Its interns are given a lot of responsibility, direction, and chances to network with partners and directors. Its full-time employees have access to professional growth opportunities, training seminars, and internal mobility alternatives. The company often participates in charitable endeavors and welcomes women and LGBTQ+ people.
11. Moss Adams
Moss Adams is one of the biggest accounting firms in the United States. It offers accounting, tax, and consulting services to public and private middle-market companies across many industries. With its headquarters in Seattle, Washington, Moss Adams was established in 1913 and now has offices in several states, including California, Washington, Oregon, Kansas, Colorado, Arizona, New Mexico, and Texas.
Moss Adams Wealth Advisors LLC is an affiliate firm that provides clients with extra services such as investment banking and asset management. Moss Adams also offers consulting services in a range of fields, including business consulting, information technology, litigation support, mergers and acquisitions, personal wealth, research, risk management, SEC/corporate finance, and valuations.
Moss Adams is a major consulting and accounting firm based in the Western United States. It employs nearly 3,800 people, including 380 partners. Moss Adams is also a founder member of Praxity, a global network of independent accounting companies. This alliance is made up of independent companies from North America, South America, Europe, and Asia.
12. Baker Tilly
Baker Tilly is one of the top 20 accounting firms in the USA. It was founded by Mr. C.A.A. Vekemans in 1914. The Headquarters of Baker Tilly is in Chicago, Illinois. Baker Tilly employs more than 41,000 professionals across more than 700 offices in 145 territories around the world. It generates annual revenue of $4.7 billion in the year 2022.
The primary areas of Baker Tilly’s business are accounting and taxation. The other services provided by the organizations include Digital Strategy, Cloud and Data Solutions, Fraud and Forensic Investigations, Executive Search, Contracting, and Compliance. Charity Advisory Services are also provided by the company.
The internees at Baker Tilly are treated as full-time employees and have access to seniors and managers who are eager to assist. Full-time employees receive on-the-job training, mentoring, and internal mobility opportunities. The firm is heavily invested in charity and diversity, and it has fresh D&I initiatives in the works. It has recently made significant strides in terms of gender diversity.
13. Plante Moran
Plante Moran, now in its 98th year of existence, is among the largest accounting firms in the United States in annual revenue. It is located in Southfield, Michigan, a Detroit suburb, and has experienced rapid expansion in recent years. In 2018, it merged with Denver-based accounting firm EKS&H and acquired hundreds of new employees and partners. Plante Moran currently employs over 3,300 workers across 25 offices. It generates annual revenue of $798 million in the year 2022. It operates domestically in Illinois, Michigan, Colorado, and Ohio and internationally in India, China, Japan, and Mexico.
The firm provides clients with audit, tax, consultancy, and wealth management services. Plante Moran has been recognized as one of “America’s Top Tax and Accounting Firms” by Forbes, one of the “Best and Brightest Businesses to Work For” in the country, and one of Fortune magazine’s “100 Best Companies to Work For” for 23 years in a row. Plante Moran is headed by Jim Proppe, the firm’s seventh managing partner.
Interns can gain hands-on experience, network with partners, and participate in a “buddy” program in the company. Full-time employees cycle across different sectors and meet with seniors to discuss career ambitions. There are D&I groups for women, Black employees, LGBTQ+ people, and veterans.
CohnReznick, founded in 1919, is a prominent tax, accounting, and consultancy firm committed to servicing clients on a national and worldwide scale with a hands-on, organizational objective and technical knowledge. CohnReznick supports both private and institutional clients, providing specialized services to Fortune 1000 and middle-market companies, private equity and financial sector firms, government agencies, and nonprofit organizations.
CohnReznick is headquartered in New York and has offices around the United States as well as overseas subsidiaries in the Cayman Islands, India, Australia, and the Netherlands. CohnReznick, as an employer, provides competitive benefits to qualified team members and strives to promote a work culture that values collaboration, creativity, career flexibility, open discussions, and mentorship.
The business offers services that include Accounting, Audit, employee benefit plans, federal and state tax, international tax, nonprofit tax, and trusts and estates. The company also offers advisory services for private, business, and government clients in the areas of disaster response and recovery, dispute resolution, real estate, restructuring and insolvency, risk management, tax credit, technology, digital, transactions, and valuation.
Top-ranked national accounting and advising firm Marcum LLP is committed to assisting high-net-worth individuals, middle-market businesses, and entrepreneurial organizations in achieving their objectives. New York City is where its headquarters are located. A total of 23 locations are located throughout Connecticut, Pennsylvania, California, New Jersey, Massachusetts, Florida, Grand Cayman, China, and Hong Kong, where Marcum has more than 1,100 professionals, including more than 150 partners. Being a part of the Marcum Group, which serves as the entry point to a collection of businesses that offer a range of professional services, including accountancy and advising, technological solutions, hiring, and wealth management, Marcum is one of these businesses.
Marcum is highly specialized and offers a wide range of professional services. The Firm’s professional services include forensic accounting, business valuation, mergers and acquisition planning, family office services, domestic and international tax planning and preparation, and litigation support. The firm has established several specialized practice areas that cater to a variety of industries, including private equity partnerships, hedge funds, SEC registrants, real estate companies, government, public, and not-for-profit sectors, manufacturing businesses, construction firms, medical facilities, food and beverage businesses, and more.
One of the biggest accounting, tax, and business counseling businesses in the United States, EisnerAmper has more than 3,000 workers and 300 partners nationwide. Despite having its headquarters in New York City, the company’s work is done all over the world. For many years, it has aided foreign companies doing business in the United States by structuring, managing, and organizing their business and reporting needs. Public corporations, financial services, real estate, law firms, not-for-profit organizations, health sciences, technology, information, media, entertainment, and sports (TIMES) are just a few of the industry groups EisnerAmper has defined.
Complete accounting, audit, and tax solutions as well as specialist consulting and advisory services are all included in the service lines. The company’s TAG Eisner division, which caters to families and affluent people, offers asset management. Separate divisions called Eisner Information Solutions and Eisner Resource Staffing also provide technical services and recruiting services, respectively. Hedge funds, private equity funds, and family offices are all clients of the company’s Eisner Fund Services.
17. Eide Bailey
With more than 40 locations in 15 states, including South Dakota, North Dakota, Nebraska, Iowa, and Minnesota, Eide Bailly is one of the top 20 law firms. In addition to getting access to more than 2,000 professionals with a range of backgrounds and skill sets, our clients also gain from local, personalized service.
Around 3,000 healthcare organizations across the country are served by the healthcare sector, which is Eide Bailly’s main industry. Our offerings cover a range of healthcare consulting activities with a focus on organization strategy, risk and governance, compliance and controls, operations improvement, billing and revenue cycle activities, business office operations, support for medical records, strategic reimbursement, information technology, and other business activities.
The other services provided by Eide Bailey are Audit & Assurance, Cybersecurity, Data Analytics, Financial Services, Litigation & Dispute Advisory, Risk Advisory, Tax, Technology Consulting, and Transaction Advisory.
18. Cherry Bekaert
Cherry Bekaert is an accounting and consulting company established in Richmond, Virginia, having locations around the Southeast in states like North Carolina, Georgia, Virginia, Florida, and South Carolina. The metro areas of Atlanta, Raleigh, Tampa Bay, Charlotte, Miami, Orlando, and Washington, D.C. are also home to it. Over 1,100 people work for Cherry Bekaert, including 125 partners.
Cherry Bekaert offers assurance, accounting, consultancy, and tax services. The division of assurance and accounting is in charge of Sarbanes-Oxley compliance, basic accounting services, outsourcing, audit and attest services, and internal audits. Fraud and forensic services, risk management, company valuations, litigation support, mergers & acquisition advisory, and wealth management are all examples of consulting services. Cherry Bekaert’s national corporate tax group, which specializes in federal tax, tax outsourcing, tax provision, and tax technology solutions, is part of the tax division. Additionally, it has a national specialist tax group that provides services related to state and local taxes (SALT), credits and incentives, energy taxes, cost segregation studies, international taxes, estate and succession planning, and solutions for compensation and benefits.
19. Moore Global
Moore Global is a worldwide network of accounting and consulting firms that provide professional services to clients in various industries. The Moore Global Network consists of over 34,000 people in 547 offices across 113 countries. Its annual revenue in 2022 was $9.2 million. The headquarters of Moore Stephens is situated in London, UK.
In the United States, Moore Global member firms operate under the name “Moore North America, Inc.” and are headquartered in Southfield, Michigan. They have over 40 offices across the United States, providing accounting and consulting services to clients in various industries.
Moore Global, which focuses on cross-continental work with roots in local communities and has member firms in more than 100 locations run by subject-matter specialists in various fields, provides clients with services like Audit & Assurance, Business Consultancy, Financial Services, Forensic & Litigation Support, Risk & Internal Audit, Legal Services, Tax, and Trusts & Estates. They serve clients in various industries such as healthcare, manufacturing, technology, and not-for-profit organizations.
BKD, LLP (BKD), founded in Kansas City and Joplin, Missouri, in 1923, and Dixon Hughes Goodman, LLP (DHG), founded in High Point, North Carolina, in 1959, joined forces to form FORVIS in 2022. These two companies had a combined experience of more than 150 years and shared a commitment to offering high-quality, personalized service. Each of BKD and DHG has a unique tradition of what it means to offer expert services that go above and beyond.
FORVIS delivers complete assurance, tax, advisory, technology, forensic and valuation services, and wealth management services through its more than 5,400 committed employees who work with clients in all 50 states and all over the world.
An accounting firm is an important component of your organization. You need a company that has the experience, is dependable, and is prepared to help you out whenever you need it. They will take care of the accounting duties in addition to giving you useful business advice to help you develop and expand your company. Competent accounting firms manage difficult financial work and provide guidance on real-world business issues, which aids in the growth of businesses. You will undoubtedly save money both immediately and later on by doing this.
So, choosing the right accounting firm is very necessary, as a wrong decision can be costly for you and your organization as well.
In the above article, I have discussed the top 20 Accounting Firms in USA along with their services. I have also mentioned the specific and unique features of each firm.