The market is expected to reach $2,019.02 billion in 2026 at a CAGR of 11.1 per cent. Industry insiders say the country is lagging far behind other South Asian countries in earning foreign currency from this sector in the global market.Īccording to the Accounting Services Global Market Report 2022, the accountancy market is expected to grow from $1,175.88 billion in 2021 to $1,324.77 billion in 2022, at a compound annual growth rate (CAGR) of 12.7 per cent. It also creates opportunities for business and accounting graduates to have high-paying offshore jobs while staying home.īut the country’s graduates and freelancers are unable to compete and triumph in the global market due to a lack of awareness and other necessary skills, including English proficiency, basics of IT and marketing strategy. Many business owners, especially the small ones, both inside and outside the country have started relying on freelance bookkeeping more and more because hiring freelancers near the end of a quarter or annually, instead of having a full-time staff, saves them money.ĭoing outsourced finance and accounting works also pays better than most similar jobs that freelancers and companies here are doing now. ![]() And freelance bookkeeping works include maintaining transaction records, daybooks, petty cash books and ledgers, producing financial reports, performing reconciliations, cloud accounting, keeping journals, chasing debt and credit control, calculating VAT returns, etc.
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