Question

Question: Identify three types of services typically offered by accounting professionals.

Short answer

Accounting professionals are qualified individuals who offer various services related to accounting such as auditing, tax planning, and money management.

Step-by-step solution

Definition of accounting professionals

An accounting professional is referred to as a person who performs various activities related to accounting such as preparing accounts, cash management, audit, etc.

Step 2:Type of services offered by accounting professionals

Auditing: It is the process of verifying and checking financial statements of the business to make sure they are accurate and made as per the rules and regulations.

Tax Planning: It is a function that helps the business save tax by presenting or preparing accounts that are best suited to save tax but as per the guidelines.

Money management: It is a function or service performed by accounting professionals in which they manage money available to the business in the best possible way.