Top 10 Accounting Firms in the USA Updated 2025

Some accounting firms keep your data in their system and accessing it for your own use can be challenging. Whether you want to run your own reports or possibly change consultants or software, hosting your own data makes it far easier. One of the key benefits of outsourced accounting support is the ability to supplement your team with specialized knowledge and resources. Professionals with experience in industry-specific operations and practices can significantly improve processes and productivity while seamlessly integrating with your existing team. Unlike most other outsourced bookkeepers on our list, Merritt Bookkeeping doesn’t offer any in-house add-ons for payroll and tax services. If you were hoping for a one-stop shop that can tackle all of your financial needs, Merritt might not be the right choice for you.

?6. CohnReznick LLP

But Merritt Bookkeeping’s most stand-out feature might be its in-depth financial reports. Most other virtual bookkeeping services give you basic financial reports only, like income statements and balance sheets. In contrast, Merritt gives you more detailed reports like forecasting and quarterly comparisons. Most small businesses don’t need a dedicated employee for accounting.

The advantage of this agreement between the parent and foreign subsidiaries is that if the exchange rate changes, the subsidiary will be not be blamed or credited for the change. Outsourced services can be adjusted as your business ebbs and flows. As sales increase or a new project materializes, your services can match your needs by adjusting your outsourced accounting professionals. Industry-experienced professionals generally have financial reporting skills aligning with current industry standards and updated technology.

They earned revenues of $5.1 billion for their fiscal year ended December 31, 2017. BDO attributes their growth in 2016 to strategic mergers that occurred. In order for BDO to catch up to the big 4 accountancy firms they will have to continue merging internationally.

Finance & Accounting Related Services

Accounting firms need to plan for the future carefully to ensure continuity and independence, especially in client relationships. Private equity deals often involve leverage, which can impact a firm’s financial stability. Firms need to carefully weigh the benefits of rapid expansion against the risk of taking on excessive debt to do so. From the largest of firms to the smallest, we are seeing a shift from generalization to specialization.

CohnReznick LLP also has global subsidiaries in Australia, Hong Kong, Netherlands, India, and the Cayman Islands. Virtual, outsourced, and online are often used interchangeably when referring to bookkeeping and accounting. However, a virtual bookkeeper or virtual accountant can sometimes refer to accountants or CPAs who work out of their homes and contract out their services individually.

• Outsourcing can be a way to enhance your resources or help internal team members gain necessary knowledge and training so you can focus on growing your business.
• Similar to the wide variety of accounting software, there are many outsourced accounting firms providing different levels of service.
• Accounting examines the broader picture of a business’s finances, performing such functions as tax preparation and filing, applying for loans and helping to create a business plan.
• Staff at some outsourced accounting firms include former controllers and even chief financial officers with decades of industry experience.

Real, proven expertise

Plus, not every online bookkeeping service works with both accrual-basis and cash-basis accounting firm, accounting companies accounting—but Bookkeeper.com does. CohnReznick LLP is a leading U.S. accounting firm and a member of Nexia International. Founded in 1919, the firm employs over 3,00 staff members and has 275 partners. With offices across major U.S. cities, CohnReznick serves a diverse client base to provide assurance, tax, advisory, and specialized industry consulting services. It is recognized for its innovative approach and strategies to offer insightful services to clients in areas like commercial real estate, renewable energy, technology, and more.

Successful partnerships require clear communication and alignment of goals to preserve firm values and client relationships. Fundamentally we are seeing a shift towards monthly recurring services that are supported by having the right people, processes, and technology in place, therefore creating a stable and profitable revenue model. As a result of these predicable cash flows, this is what is attracting private equity investors.

Would you rather tackle accounting yourself instead of outsourcing it to a third party? Check out our list of the year’s best accounting software for small businesses to get started. While opting to hire a small business accountant will cost you money, it can also save you a lot in the long run. Unless you are a CPA who is up to date on tax laws, you’re likely missing out on deductions and other small biz benefits. And once your business starts growing, you likely won’t have the time or knowledge to accurately keep track of all your books. Nexia has moved up to the 8th largest accounting firm in the world with $4.5 billion in revenue.

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There’s support for the (CPA) exam, with more time off to be able to study for the exam and get through the exam. Making the academic experience more engaging so that we’re not weeding out students in classes, we are pulling them through. And with taxes, you look at the ability to summarize agreements and really focus on the main areas of those agreements.