if you have ever struggled to set yourself free from offering only commoditized, generalist types of accounting services and you thought it was very difficult to identify the niches you should focus on, relax! the bureau of labor has the answers for you.
the latest bureau of labor statistics occupational employment and wage estimates survey has revealed the secret of which professions are earning the most money.
a new state cpa society report on the dwindling number of college graduates who are pursuing cpa credentials underscores an issue that’s already being confronted by some forward-thinking accounting firms.
the statistics are daunting:
nearly half of college accounting majors never sit for the cpa exam.
a third of those who take the cpa exam never complete it.
on average, it takes 6.5 attempts for candidates to pass all four parts.
only 27 percent of test-takers finish all four parts on the first try.
75 percent of current cpas are projected to retire within the next 15 years.
todd shapiro, the illinois cpa society president and chief executive, calls the stagnating cpa pipeline “a threat that will only get worse and grow more troubling without action because there’s no slowdown in sight for accounting talent demand.”
cpa firms should be braced to pay more and further improve their workplace offering perks to attract top talent, according to staffing firm robert half international.
the already hot market for hiring is stoked to get even more heated with rhi predicting that starting salaries for accounting and finance professionals will increase by an average 3.7 percent in 2017. that’s the second highest level of pay hikes projected for all major professional employment sectors nationwide, trailing only the white-hot technology sector, where it sees average starting pays rising 3.8 percent.
the menlo park, calif., firm warns that “competition for top talent can be fierce,” and notes that many firms are already increasing salaries and bonuses to be tops in their local market areas or business niches. “with skilled professionals in high demand and short supply, more employers are willing to negotiate compensation with potential hires,” said paul mcdonald, senior executive director at rhi.
maybe it’s the restlessness that comes with the shift from summer to fall. employment figures were up and down all over the place, according to new 卡塔尔世界杯常规比赛时间 research.
still, the industry as a whole hit a new high. and women are making huge gains – in accounting overall, in cpa firms and especially in payroll, where their jump from a year ago is an astonishing 16.2 percent.
in this report, 卡塔尔世界杯常规比赛时间 highlights:
current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry.
average hourly wages for key segments.
typical hours worked per week, and
trends concerning women in the accounting workforce.
cpa firm revenues are surging more than 8 percent in the just-released 18th annual rosenberg map survey, the strongest expansion in almost a decade.
the advances are being fueled mostly by organic growth, by, with the merger frenzy showing no signs of slowing down, mergers account for about 28 percent of the new revenue, according to the report’s authors, the growth partnership, a st. louis-based practice management consultancy.
but the profession could be holding itself back, according to the authors, led by charles hylan of the growth partnership.
the tax and accounting profession is entering a new era of competitive battles, marked by a thirst for new clients, a hunger for qualified employees, and a dire need for smarter, faster production processes.
indeed, the new accounting firm operations and technology survey shows that most solo practitioners say “attracting new clients” is their biggest challenge. among small firms, sized up to 10 persons, it’s “managing workflow.” at all larger firms, “recruiting and retention” is the primary issue.
clearly, the profession is fighting a three-front war. and some practitioners are trying to win with one hand tied behind their back.
the tax preparation sector of the industry is adding employees. hmm, why could that be?
payroll continues its swings, with numbers and hours up while earnings are down. women continue to see gains both overall and in cpa firms, while their numbers in payroll increased by double digits.
a movie starring a mathematics savant with more affinity for numbers than people (perhaps you know someone like this).
but wait, it gets better. he makes his living as a forensic accountant for dangerous criminal organizations. and he uses a small-town cpa office as a cover!
accountingtoday cites 卡塔尔世界杯常规比赛时间 ceo and contributors as “visionaries shaping the profession.”
rick telberg and two dozen more luminaries from 卡塔尔世界杯常规比赛时间 have been named among “the top 100 most influential people” by accountingtoday, the tax and accounting profession’s leading news platform.
telberg
“since his days as head of accountingtoday,” according to the editors, “telberg has made a practice of introducing new voices, and he’s continuing that now as a one-man publishing house for a host of people with important things to tell the profession — to say nothing of the valuable insights he unearths through his research projects.”
“it is the new breed of cpa firm that is producing outsized profits for its owners with strategic vision, exceptional talent, and fanatical client service,” telberg tells accountingtoday about the profession’s most exciting prospects. “mostly they are flying under the radar, driven by a single savvy owner or a small group of tightly knit partners.”
while the rest of the profession is focusing on tax services, the largest firms are expanding capabilities in accounting, financial reporting, practice management, and new technologies, according to new results from a 卡塔尔世界杯常规比赛时间 survey conducted in conjunction with the ohio society of cpas and consultant michael ramos.
the profession’s large firms also have large problems – problems that can’t be solved by cpe alone, according to remarks by survey respondents. problems like survival.
the survey results show in detail where large firms are investing their valuable time and resources, and how the best of them manage their training budgets to align with strategy. many large firms could be getting a better return on their training budgets.
the survey shows, for instance, where most large firms fall short in: read more →
the survey on cpe and practice improvement, conducted with the ohio society of cpas and consultant michael ramos, suggests that taxes are taking up a bigger part of soloists’ practices – even though many say they’d like to diversify into other areas.
in paradise, calif., cpa al sperske, who’s been reading 卡塔尔世界杯常规比赛时间 for more than 10 years, is among those stressed out by keeping up. “taxes,” he says. “nuts in congress will not leave them alone.” read more →
payroll hit a new high in hours worked even as hourly wages continue to slide, according to new 卡塔尔世界杯常规比赛时间 research. for payroll staff, numbers and hours are up at about the same rate that wages are down. meanwhile, women keep making huge gains.
in this report, 卡塔尔世界杯常规比赛时间 highlights:
current hiring trends in each of the bookkeeping, payroll, tax, and cpa segments of the industry.
average hourly wages for key segments.
typical hours worked per week, and
trends concerning women in the accounting workforce.
numbers decline for older partners and women.exclusively for pro members. log in here or 2022世界杯足球排名 today.
nearly 40% of them are in the health care industry.
hourly earnings drop everywhere.
how savvy cpas turn old problems into new opportunities.
problems cpe alone won’t solve.
