Typically they are the same, but for the sake of this graph, I would call consulting more of a management advisory function where you provide support on ambiguous transactions, sometimes yes or no decisions while advisory for a lot of these firms is simply an outsourced accounting function providing something like an internal audit function, 606 adoption, or some other specific accounting function that the Company cannot currently staff with their own employees.
MastodonEast922 t1_iy72oq6 wrote
Reply to comment by tofuexpert in [OC] 'Big 4' accounting firms are PwC, Deloitte, KPMG, and EY - breaking down how they make money by giteam
Typically they are the same, but for the sake of this graph, I would call consulting more of a management advisory function where you provide support on ambiguous transactions, sometimes yes or no decisions while advisory for a lot of these firms is simply an outsourced accounting function providing something like an internal audit function, 606 adoption, or some other specific accounting function that the Company cannot currently staff with their own employees.