The Entities in United States of America are required to maintain proper accounting records as per accrual accounting. The Generally Accepted Accounting Principles (US GAAP), is the accounting standard adopted by business. The accounting requirement enables full and fair disclosure of the financial condition in compliance with applicable accounting principles, laws, rules and regulations.
YourGlobalPro professionals can assist you with the entire bookkeeping and accounting services for your United States of America Business Setup as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.
In United States of America, the audit requirements are different, depending on whether your business is public or private and the term of auditor appointments are generally not subject to legislative or regulatory requirements, so an auditor can usually be appointed or terminated at any time. The financial reports are to be prepared as per appropriate U.S. or international accounting and reporting standards. Although no audit requirement, companies wishing to do business in the United States, the banks and other lending institutions often require specific financial information from their clients and may require a client to undergo an annual audit by an independent accounting firm.
Based on the size of the business – the companies are required to prepare and file financial statements with the Authority. YourGlobalPro professionals can provide you auditing services as required by your business.
The Federal Reserve System is the central bank in United States of America regulating the Banks in the Country. The accounts can be opened and maintained in multi-currency and is available for all major currencies with the Banks.
The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening. The five major banks in United States of America are JP Morgan Chase &Co., Bank of America (BoA), Wells Fargo, Citigroup, Goldman Sachs Group. All banks are stable, reliable and offer the same level of services.
YourGlobalPro professionals can facilitates all the paper work in relation to banking need and can assist you in opening bank account for your business plan in United States of America.