What do the accounting profession say about the Big Four?

Deloitte, PwC, Ernst & Young, KPMG.

Big Four International Accounting Firms (Firms), Big Four Accounting Firms.

Refers to four well-known accounting firms in the world: PricewaterhouseCoopers.

PWC), Deloitte (DTT), KPMG and Ernst & Young (EY) profiled the Big Four international accounting firms.

1. PricewaterhouseCoopers Zhongtian Certified Public Accountants was founded in 1993 by Cui Zhiyi, the company's main business is auditing, verification, design accounting and computer programs, etc., in 2008, the company's annual profit reached 28 billion US dollars, its employees are about 150,000, and there are 860 branches in 150 countries around the world, in Forbes.

PwC ranks third among the top four accounting firms in China, and has a strong presence in China, with offices in 12 cities including Beijing, Tianjin, Chongqing, and Qingdao.

2. Deloitte Touche Tohmatsu has branches in 126 countries, with a total of 59,000 employees, mainly engaged in undertaking projects of foreign-invested enterprises and foreign enterprises in Shanghai and all over the country, and is the largest professional service organization in China, in 1997, Deloitte and the famous accountant Huang Chenfang's firm merged, making the domestic accounting business ability stronger, with branches in 10 cities such as Beijing, Dalian, Guangzhou, Hong Kong and Shanghai, becoming the largest accounting firm in China.

3, Li Xin accounting firm is Dr. Pan Xulun was established in 1927, is China's earliest accounting firm, in June 2000 by Li Deyuan, Zhou Qi, Dai Dingyi, Wang Dexia, Shi Guoliang and other 9 people initiated the original Shanghai Li Xin Changjiang Certified Public Accountants **** changed to Li Xin Certified Public Accountants ****, the main business has listed services, statutory audit, foreign exchange receipts and payments and other businesses, the company has more than 6,000 employees, annual turnover of about 100 million yuan, It has five branches in Shenzhen, Nanjing, Wuhan, Guangdong, Fujian, etc.

4. Ruihua Certified Public Accountants is a large-scale international accounting firm jointly established by Zhongrui Yuehua and the former Guofu Horwath in 2013, with its head office in Beijing, with nearly 10,000 staff, 2,600 accountants, 320 partners and 23 leading figures, some of which also serve as the Ministry of Finance, the Securities Regulatory Commission and the State-owned Assets Supervision and Administration Commission.

The main business areas involved are capital operation, financial management consulting, tax consulting, etc., which have been awarded the audit qualification of A+ H share enterprises, and their partners are all over the country such as the State Grid.

Aerospace Science and Industry, Dongfeng Motor, CITS Group and other more than 40 ** enterprises.

In addition, the partners of listed companies include Huayi Brothers.

There are more than 350 companies such as Hisense Electric Appliances, and its customer industries include electric power, water conservancy, transportation, shipping, real estate, construction, education, medicine, bancassurance and other fields, ranking fourth among the four major accounting firms in China, with rich industry experience.

The Big Four Accounting Firms refer to the Big Four accounting firms, namely the four famous accounting firms in the world: PricewaterhouseCoopers (PWC), Deloitte (DTT), KPMG (KPMG), and Ernst & Young (EY). Like accounting firms, the Big Four accounting firms are mainly engaged in the business of auditing, accounting, consulting, taxation and other aspects entrusted by the parties.

1. PricewaterhouseCoopers:

The original Pricewaterhouse and Coopers & Lybrand were formed on 1 July 1998. PwC is headquartered in London, UK.

There are more than 460 partners and more than 12,000 employees in Chinese mainland, Hong Kong and Singapore. Major international customers are IBM, Nippon Telegraph**, Johnson & Johnson, American Telegraph**, British Telecom, Dell Computer, Ford Motor, Chevrolet, Compaq Computer, and Nokia.

2. Deloitte: Deloitte's global revenue in 2010 was US$26.6 billion, surpassing PricewaterhouseCoopers to become the world's largest accounting firm, with more than 8,000 employees in China. Deloitte is headquartered in New York, USA.

In 1997, Deloitte merged with Kwan Wong Chan Fong, the largest Chinese accounting firm in the Hong Kong Special Administrative Region of the People's Republic of China.

Major international customers include Microsoft, Procter & Gamble, General Motors, Vodafone, Chrysler, etc.

3. KPMG:

KPMG is a global network of professional services firms specialising in audit, tax and advisory services. KPMG has 138,000 people in 150 countries. The Swiss entity of KPMG International Cooperative ("KPMG International") is made up of independent members from each location, but each member is legally separate and distinct entities.

At present, KPMG China has 16 offices in Beijing, Shanghai and other places (including KPMG Advisory China****), with about 9,000 professionals.

KPMG is headquartered in Amsterdam, the Netherlands. Major international customers: General Electric, Apple, Shell, Pfizer, Nestle, Mercedes-Benz, PepsiCo, Citibank, Industrial and Commercial Bank of China, China Unicom, PetroChina, Huawei, etc.

4. Ernst & Young: In fiscal year 2008, Ernst & Young International Accounting Company's annual revenue was US$24.5 billion, an increase over fiscal 2007, with a total of 135,000 professionals worldwide. EY is headquartered in London, UK.

Major international customers: Intel, Coca-Cola, Wal-Mart, BP, Time Warner, Bank of America, McDonald's, Bank of China, Chinese Life, etc.

The Big Four accounting firms are big brothers: Deloitte, PricewaterhouseCoopers, KPMG, and Ernst & Young.

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The basic elements of accounting include assets, liabilities, owners' equity, income, expenses, and profits, which are as follows:

1. Assets: refers to the resources formed by the past transactions of the enterprise, owned or controlled by the enterprise, and expected to bring economic benefits to the enterprise.

2. Liabilities: refers to the current obligations of the enterprise formed by past transactions or events, which are expected to lead to the outflow of economic benefits from the enterprise.

3. Owner's equity: refers to the residual equity of the total assets of the enterprise minus the liabilities enjoyed by the owners of the enterprise.

4. Income: refers to the total inflow of economic interests formed in the daily activities of the enterprise, which will lead to an increase in the owner's equity and have nothing to do with the owner's capital investment.

5. Expenses: refers to the total outflow of economic benefits incurred by the enterprise in its daily activities, which will lead to the reduction of the owner's equity and have nothing to do with the distribution of profits by the owner.

6. Profit: refers to the operating results of an enterprise in a certain accounting period.

1. Standardization, that is, the purpose of accounting standards is to standardize accounting behavior.

2. Authoritative, that is, the standard of closed-burner accounting is one of the criteria for dealing with accounting business.

3. Developmental, that is, accounting standards change with the changes in the socio-economic environment.

4. The integration of theory and practice, that is, accounting standards are used as a theoretical basis to guide accounting practice, and it is also conducive to the combination of accounting theory and accounting practice.

Accounting standards are the rules and guidelines applied by enterprise accountants when engaging in accounting work, which can be divided into accounting standards for for-profit organizations and accounting standards for non-profit organizations according to the business nature of the units they use.

The Big Four accounting firms in China refer to PricewaterhouseCoopers, Ernst & Young, KPMG and Deloitte.

1. PricewaterhouseCoopers.

PricewaterhouseCoopers (PwC), one of the world's largest professional services firms, was founded in London in 1849 and established its first branch in China in 1914. With more than 3,000 lawyers and tax professionals in 150 countries and territories, PwC provides a wide range of professional services, including business advisory, tax, audit and legal affairs.

Founded in 1985, PwC currently has offices in Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong, with more than 600 professional lawyers and tax professionals. The agency's services cover a variety of areas, including corporate mergers and acquisitions, private equity, IPOs, finance, intellectual property, antitrust, labor law, and more.

2. Ernst & Young.

Ernst & Young is one of the world's leading large professional services firms, founded in 1895 and headquartered in London, UK. With more than 200 offices in more than 150 countries and territories, EY has more than 3,000 lawyers and tax professionals serving in business advisory, audit, tax and legal.

Ernst & Young provides clients with a comprehensive range of legal services around the world, including mergers and acquisitions, equity financing, IPOs, private equity**, intellectual property, employment law, antitrust, litigation and arbitration.

3. KPMG.

KPMG is one of the world's leading professional services firms, founded in 1891 and headquartered in New York City, USA. KPMG has more than 7,000 lawyers and tax professionals in 155 countries and territories, providing clients with a wide range of professional services, including business advisory, tax, audit and legal affairs.

4. Deloitte Law Firm.

Deloitte Touche Tohmatsu is one of the world's leading professional services firms, founded in 1849 and headquartered in London, UK. Deloitte Law Offices has more than 4,000 lawyers and tax professionals in 85 countries and regions, providing clients with a wide range of professional services, including business advisory, tax, audit and legal affairs.

Deloitte Law Offices is known for its global expertise and global resources, as well as a wide client base in the Chinese market.