Outsourcing of accounting

This bachelor thesis deals with outsourcing of accounting. This thesis emphasizes on understanding of outsourcing in general as a concept as well as a procedure, in which the relationship between the client and the accounting services provider is created. The present experience leads us to a situation, where there are a lot of accounting services providers on the market. An enviroment with high competition is estabilished and the accounting firms have to react with better services and perks, so they can obtain and sustain the competitive advantage against others. A lot of big corporations resort to dealing with the accounting internally. On the other hand the enterprenurial environment from the look of the outsourcing provider is enriched by the establishment of many new smaller firms and start-ups, which are more likely to use the benefits of outsourcing of accounting. The providers can obtain a competitive advantage by improving the services through internal processes, employee management or by providing the extra services like bank payments, issuing invoices, etc. The goal of this thesis is to provide the reader with some introduction to outsourcing of accounting from the stance of the accounting services provider, from corporation establishment to accounting of the single clients.