Abstract

The main body of accounting services in the market economy of Jing Zhou City is currently mainly composed of small and medium-sized enterprises; each year, small and medium-sized accounting firms mainly provide its traditional class audit, proxy bookkeeping, capital inspection and other services. However, due to the fact that current small and medium-sized accounting firms in Jing Zhou have the characteristics of a single structure, a large number of organizations, fierce competition and so on, these probably result in the slow development of small and medium-sized accounting firms in the local market. Based on an analysis on the current status of the development of small and medium-sized accounting firms in Jing Zhou, and the problems that may be encountered in their further development, this article proposes a series of targeted development recommendations to seek the long-term development of small and medium-sized accounting firms in Jing Zhou.

Highlights

  • Due to the fact that current small and medium-sized accounting firms in Jing Zhou have the characteristics of a single structure, a large number of organizations, fierce competition and so on, these probably result in the slow development of small and medium-sized accounting firms in the local market

  • Based on an analysis on the current status of the development of small and medium-sized accounting firms in Jing Zhou, and the problems that may be encountered in their further development, this article proposes a series of targeted development recommendations to seek the long-term development of small and medium-sized accounting firms in Jing Zhou

  • The purpose of this paper is to analyze the current situation of the development of small and medium-sized accounting firms in Jing Zhou City, to explore the existed problems and put forward strategic recommendations for its future long-term development, providing the reference recommendations for the healthy development of small and medium-sized accounting firms in Jing Zhou City

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Summary

Introduction

With the rapid development of China’s economy, the number of accounting firms is growing, especially the small and medium-sized firms, who have great market growth potential because of their flexibility in the development; due to the late establishment of small-sized accounting firms, and small number of talented person, fierce competition in the market and other. The purpose of this paper is to analyze the current situation of the development of small and medium-sized accounting firms in Jing Zhou City, to explore the existed problems and put forward strategic recommendations for its future long-term development, providing the reference recommendations for the healthy development of small and medium-sized accounting firms in Jing Zhou City

Development Status of Small and Medium-Sized Accounting Firms in Jing Zhou
Poor in Integrated Practitioners and Difficulties in Expanding New Business
A Single Scope of Practice and a Highly Competitive Market
Weak Audit Independence and Inadequate Internal Control Management
Implementation in Firm Scale-Up and Consolidation Strategy
Promotion in Professionalism and Diversification on Services
Strengthening Awareness and Branding Strategies
Findings
Conclusion
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