accounting firm

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Word: Accounting Firm

Definition: An accounting firm is a business made up of accountants who help other companies and individuals with their financial records. They provide services like bookkeeping, preparing taxes, and auditing (checking financial records for accuracy). These services are usually offered for a fee.

Usage Instructions:

• You can use "accounting firm" when talking about businesses that manage finances.
• It is often used in discussions about business, finance, taxes, and audits.

Example Sentence:

• "I hired an accounting firm to help me file my taxes this year."

Advanced Usage:

• In a more advanced context, you might say, "The accounting firm conducted a comprehensive audit to ensure compliance with international financial reporting standards."

Word Variants:

• Accountant (noun): A person who works in accounting.
• Accounting (noun): The process of recording financial transactions.
• Auditing (noun): The process of examining financial records to ensure accuracy.

Different Meanings:

• The phrase "accounting" can also refer to the overall practice of managing financial records, not just the businesses that provide these services.

Synonyms:

• CPA Firm (Certified Public Accountant Firm): A specific type of accounting firm that has certified public accountants.
• Bookkeeping Firm: A business that primarily focuses on recording financial transactions.
• Audit Firm: A company that specializes in auditing services.

Idioms:

• "Keep the books": This means to maintain financial records, often done by an accounting firm or accountant.
• "Cut corners": This means to do something in a way that saves time or money but may not be the best quality. In accounting, this could refer to poor financial practices that an accounting firm would avoid.

Phrasal Verbs:

• "Go over": This means to review something carefully. For example, "The accountant will go over the financial statements with the client."
• "Write off": This means to officially recognize that something (like a debt) is uncollectible or has no value.

Academic

Noun

1. a firm of accountants who provide accounting and auditing services for a fee