Accounting in the USA

Our accountants in the USA specialize in the accounting of any type of business existing in this country and can offer complete services to company owners. Among these services, we mention: bookkeeping in the USA, tax auditing, tax compliance, and registration. Our CPA in the USA is at your disposal with information about the necessary accounting in the company and can assure you that the business complies with the rules and standards imposed by law.

Quick Facts
Applicable accounting rules in the USA	Generally Accepted Accounting Principles (GAAP)
Authorities that amend the accounting procedures	– Financial Accounting Standards Board (FASB), – the Governmental Accounting Standards Board (GASB)
Accounting principles	– accuracy, – consistency, – transparency in financial reporting of companies established in the USA
External audits in the USA are performed by	A certified public accountant (CPA)
Annual GAAP-compliant financial statements for financial institutions	Imposed
About payroll for companies in the USA	Performed by a payroll specialist in charge of calculating taxes on salaries and distributing the wages according to the company’s policy
About bookkeeping	One of the most important parts of the accounting. Bookkeeping allows registration of all the financial transactions made in a firm.
Types of audits	– internal, – external, – operational, – financial, – statutory, – integrated, and more
Can an accountant be in charge of the company’s bank accounts?	Yes, he or she can perform varied financial transactions, in accordance with the company’s management decisions.
Are the International Financial Reporting Standards (IFRS) applied in the USA?	Yes, but certain restrictions apply.
We provide support for tax registration (YES/NO)	YES
The services offered by our chartered accountants in the USA	– tax returns, – audits for financial statements, – business practices and related accounting procedures, etc.
The fiscal year in the USA	It starts on the 1st of October and ends on the 30th of September the following year.
Types of accounting services we offer in the USA	– bookkeeping, – payroll, – audits, – personal tax filing, – preparation of annual financial statements etc.
Why choose our US accountants	For comprehensive assistance in accounting matters for small, medium, and large companies registered in the USA. Our services can be personalized.

Type of accounting services in the USA

Any company with economic activities in the USA must align with the accounting standards and comply with the legislation in force. There are a number of accounting in the USA services that your company can benefit from, with the help of our accountants in the USA:

• bookkeeping;
• payroll;
• tax auditing;
• accounting for small businesses in the USA;
• support for personal tax returns;
• personal tax filing;
• annual financial statements and end-of-year accounting management.

Our accountants in the USA can offer their services for tax returns for partnerships, and sole traders in the USA, therefore, you can confidently call our accounting firm in the USA.

What is a CPA in the USA?

CPA stands for Certified Public Accountant. It is basically a license for accountants in the USA who can offer services of this nature to all those interested and more precisely to those who have business in the USA. In order to be a CPA in the USA, it is necessary for the respective applicant to pass the Uniform Certified Public Accountant Examination, and to prove that he/she has at least one year of experience in the field.

It should be mentioned that the CPA in the USA is a member of the American Institute of Certified Public Accountants, but also in the CPA societies to which they belong. In addition to solid accounting knowledge, a CPA in the USA must acquire auditing knowledge to be able to evaluate a company from a financial point of view.

If you want services related to accounting in the USA for your company, solicit the help of our accountants in the USA.  You can also check this infographic with details on this topic:

A chartered accountant in the USA – When you need one

CA or chartered accountants can deal with audits, tax returns, business practices, and audits for financial statements. Also, a chartered accountant in the USA can offer advisory services for financial matters concerning customers. In most cases, it can be said that a chartered accountant in the USA performs the same things as a Certified Public Accountant in the USA (CPA in the USA). Our accounting firm in the USA can offer the services of a chartered accountant in the USA.

Foreign investors who want to open a company in the the USA can benefit from our services. We can take care of the paperwork and formalities, as well as the collaboration with the relevant authorities. We, therefore, invite you to discuss all these aspects with our local agents if you are thinking of expanding your portfolio in one of the American states. If you want to extend your American company in other countries, such as Argentina, we can put you in touch with our partners – the Argentine experts specialized in payroll.

Bookkeeping services for companies in theUSA

Small, medium and large companies require bookkeeping in the USA. With the help of this type of service, the accuracy of the financial information regarding the company’s cash flow is guaranteed. Here is what bookkeeping means in the USA:

• Registration of all incoming and outgoing invoices in the company;
• Registration for paying taxes, respectively for sales tax (equivalent to VAT), corporate income tax, and more;
• Organization of financial priorities for the smooth running of the business;
• Processing of payments and sending required invoices;
• Maintaining the general ledger;
• Daily banking activities according to the business needs.

Bookkeeping in the USA can also involve the supervision of a company’s credits and debits, and an experienced accountant knows the legislation in this regard and can offer specialized help. You can discuss more about accounting in the USA with our local specialists. Plus, you can also explore this video presentation with details about the accounting services we offer to businessmen in the USA:

Ethical standards for accountants in the USA

Accountants in the USA must adhere to ethical standards in their practice, which may include frameworks such as the International Financial Reporting Standards (IFRS) or Generally Accepted Accounting Principles (GAAP) in the U.S. These standards ensure transparency and consistency in financial reporting.

Certified Public Accountants (CPAs) in the USA have a fiduciary duty to their clients, meaning they are legally and ethically obligated to provide accurate and honest financial advice. CPAs can face legal consequences for negligence, misrepresentation, fraud, or breach of contract.

Choosing the suitable accounting firm in the USA for your company can ease the entire business process significantly. Our company formation agents are at your disposal in this matter.

Differences between an accountant and a CPA in the USA

While both accountants and CPAs handle similar financial tasks, there are key differences. All CPAs are accountants, but not all accountants are CPAs. Accountants in the USA typically hold a degree in accounting and can perform tasks such as financial reporting, budgeting, and account reconciliation. However, CPAs in the USA are licensed professionals who must meet additional requirements, including passing the CPA exam, adhering to ethical codes, and fulfilling continuing education requirements. CPAs are also authorized to conduct audits and file reports with the SEC (Securities and Exchange Commission).

Data on accounting in the USA

The accounting industry in the USA has grown exponentially in the last years, becoming one of the indispensable business fields in the country, as official data mentions:

• In 2023, the revenue on the accounting services in the USA has grown to 147.5 billion dollars;
• In 2022, the revenue on accounting in the USA was of 144 billion dollars.

Other services we provide

If you plan to open a branch in the USA, you can benefit from the support offered by our local experts. We take care of the registration formalities, and among them is the preparation of the necessary documents as well as the opening of a bank account. Feel free to get in touch with us if setting up a branch in the USA is on your list for one or more American states.

Furthermore, our specialized company formation agents in the USA provide a variety of services for businesses from all over the USA. For example, if you are planning to start a company in Delaware, you can rely on our support. Delaware represents a state in the USA where business development is the key of economy progress. If setting up an LLC company in Delaware is your option for doing business in the USA, you can benefit from the specialized services offered by our company formation agents in this process.

Investors who want to open a company in Delaware can benefit from many advantages, among them, a great tax system. The minimum share capital is 1 USD, and our specialists can help with opening a bank account. We can also help with the preparation of documents as well as with the registration for the payment of taxes. There is no need for resident directors and shareholders, so setting up a company in this state is quite simple.

Our accounting firm in the USA is at your disposal with specialized services, so do not hesitate to contact us and benefit from the services of our accountants in the USA.  If you need accounting services in other countries, such as UAE, we can put you in touch with our local partners.