outlook & analysis

cpa firm revenues rise a hefty 8%

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annual growth: 2006 to 2015 (firms over $2 million)
annual growth rates for firms grossing over $2 million per year. source: rosenberg map survey via 卡塔尔世界杯常规比赛时间

partner incomes top $400,000 as firms make advances in efficiency and productivity.

by rick telberg
the rosenberg map survey

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.

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women, tax prep see workforce growth

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cpatrendlines jobs report tiltsorry, payroll. life remains tough for you folks.

by 卡塔尔世界杯常规比赛时间

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.

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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

read more →

world envies low u.s. tax rates on luxury real estate transfers

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another reason global capital is finding a haven in u.s. assets.

by 卡塔尔世界杯常规比赛时间 research

the u.s. is the envy of the world in the low tax rate applied to real estate transactions, according to a new study by uhy, the global network of accounting firms.
“the united states has one of the lowest tax rates in our study,” says dennis petri of uhy advisors. “the low level of tax enables homeowners to move more freely from city to city and now, the u.s. is seen as having enviable labor market mobility.”

the study shows taxes on “prime” real estate transfers average 0.6 percent in the u.s., or $6,000, far lower than the global average of 3.3 percent ($33,038) for properties worth $1 million, according to the study.

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back to the future: 30 years of change in the profession

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business success abstractenduring factors: the talent of our professionals in delivering value to our clients. 

click to see 1988 report
click to read 1988 report

by allan koltin
koltin.com

recently my clients, tony frabotta and rick david of uhy advisors, forwarded to me the summer 1988 issue of the pdi report. tongue in cheek, they said to me they were surprised to see that there was another allan koltin who also did consulting to the accounting profession. (needless to say, they were poking fun at me based on my 1988 photo versus how i appear today!)

this issue of the pdi report was not just any issue; it was an issue in which we gathered together the country’s leading consultants (similar to how i participate in the advisory board and new horizons group today) and aired their views on the profession and industry trends through what was then called the first annual consultants roundtable.

some of the issues discussed almost three decades ago are still what we talk about today, including: industry specialization, quality service, the importance of great leadership and management, value billing, and the significance of having a firm vision, mission and core values.

it’s also interesting that back then a mid-sized firm was defined as a firm with $1 million to $10 million in revenues, whereas today a mid-sized firm probably would start at $10 million and potentially go up to $36 million (the cutoff point for being a top 100 firm).

that being said, the following are items that have completely changed since that time or weren’t even on the table for discussion: read more →

women gain jobs, payroll up and down

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cpatrendlines jobs report tiltoverall industry employment continues to rise.

who’s hiring; who’s firing.
join the survey; get the answers

by 卡塔尔世界杯常规比赛时间

women are outpacing men as new hires in the tax and accounting industry today, according to new 卡塔尔世界杯常规比赛时间 research.

female headcounts are advancing at annualized rates of 5.5 percent in overall employment, 7.3 percent at cpa firms, and 10.6 percent in payroll services, according to 卡塔尔世界杯常规比赛时间 research.

at the same time, payroll is emerging as one of the most volatile sectors, with staff up 7.5 percent in the latest month, while wages dropped 8.8 percent year-on-year.

in metairie, la., a source at a three-partner partner firm reports they are looking for a cpa with the right “mix of technical skills and communication skills.”  “it’s very important to be able to communicate issues with both management and clients,” the source tells 卡塔尔世界杯常规比赛时间. at the same time, work at the firm has its challenges. “although we strive to give clients the best service possible, it is sometimes to the detriment of our work/life balance.”

at a 12-partner cpa firm with offices scattered across colorado, 卡塔尔世界杯常规比赛时间 hears from an insider that they are seeking to promote from within. “we are cultivating staff-level employees because we need middle managers and supervisors who already have some experience.”

in the rest of this report, 卡塔尔世界杯常规比赛时间 delves into:

  • 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.

read more →

fresh data spell new staffing issues at tax & accounting firms

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卡塔尔世界杯常规比赛时间 jobs reporthiring and wages are up. utilization rates are down.

next question: the best talent retention strategies.
join the survey; get the answers.

by 卡塔尔世界杯常规比赛时间

most workers in the tax and accounting industry are working fewer hours than a year and a half ago, according to 卡塔尔世界杯常规比赛时间 sources, a potentially troubling sign of unsustainable hiring and management practices.

in addition, year-over-year increases of 5 percent or more were seen in

  • number of overall staff;
  • number of cpa firm employees, both total and staff;
  • payroll staff;
  • and women overall, at cpa firms and in payroll

the really bad news comes in payroll agencies, where positions are at their second highest level ever, but wages are plummeting.

with the new data, the monthly 卡塔尔世界杯常规比赛时间 jobs report projects a new surge in turnover with the end of busy season. there will be winners. and there will be losers. savvy, growing firms will be well-positioned to attract the under-leveraged talent that slow-footed firms can’t handle or afford. top talent will be making lateral moves, as much for more supportive cultures and future opportunities as for a quick pay increase, according to the 卡塔尔世界杯常规比赛时间 analysis.

in this report, 卡塔尔世界杯常规比赛时间 provides additional detail and analysis on:

  • current hiring trends in each of the cpa, tax preparation, payroll and bookkeeping segments of the industry;
  • average hourly wages for key segments;
  • average hours worked per week;
  • and trends concerning women in the accounting workforce.

read more →

strong industry growth fuels wage and retention issues for firms

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cpatrendlines jobs report tilt
join the survey, get the results.

as growth breeds competition, job-seekers gain the upper hand.

what drives staff turnover?
join the survey, get the results

by 卡塔尔世界杯常规比赛时间

the nation’s tax and accounting firms are enjoying one of their most prolonged periods of growth since 卡塔尔世界杯常规比赛时间 started keeping track with the careers and hiring outlook survey 15 years ago, but pressures are building in staff retention and compensation.

this month’s 卡塔尔世界杯常规比赛时间 jobs report covers:

  • current hiring trends in each of the bookkeeping, tax, payroll 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.

read more →

accountants report 12% annual revenue growth… and accelerating

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arrow rising above ever larger blocks in businessman's hand, indicating growthindustry heads into 2016 with stronger performances than most clients.

by 卡塔尔世界杯常规比赛时间

as professionals who specialize in finance, preparing financial statements and assisting business owners with their financial performance, one would suspect that the tax and accounting industry would have a firm grip on  financial performance. looking at statements filed over the past year, that certainly appears to be the case.

the average private company falling into the category of either accounting, tax preparation, bookkeeping or payroll services grew sales at an annual rate of 12 percent. this was a higher growth rate than the average privately held company achieved over that same period, despite being a healthy rate of revenue growth for the average u.s. company.
read more →

accounting industry expands at 5% annual rate

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cpatrendlines jobs report tiltpayroll agency hiring surges. wage growth slows at cpa firms.

who’s hiring? who’s not?
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间

the u.s. tax, accounting and bookkeeping industries are turning out to be one of the brightest spots in the nation’s economy, growing at about 5 percent a year, with payroll agencies now turning in the strongest performance.

wage growth, on the other hand, is showing signs of slowing down.

this month’s 卡塔尔世界杯常规比赛时间 jobs report covers:

  • current hiring trends in each of the bookkeeping, tax, payroll 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.

read more →

a good year for small business clients

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image004

sales and margins expand in most sectors.

by 卡塔尔世界杯常规比赛时间

many small businesses may be better prepared for the bumpy 2016 that many economists are predicting. new data from sageworks show the typical small business with revenue under $5 million a year grew by almost 8 percent in sales and widened profit margins by more than a percentage point to 7.5 percent.

small businesses, on average, experienced an increase in sales growth for the first time in three years and an increase in net profit margin for the fourth straight year.

the financial information company looked back at sales and profitability trends among small businesses in five key client sectors for the past five years – construction, retail, professional services, health care and accommodations and food services – and found that sales growth accelerated in all but professional services and retail. key insights from sageworks’ data:

more highlights: read more →

record pre-season hiring surge: ready for biggest tax season ever?

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cpatrendlines jobs report tilt
join the survey. get the results.

new jobs pace sets stage for record-high revenues – or disastrous disappointment.

who’s leading the charge?
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

tax and accounting industry growth is on a tear with no signs of slowing down, according to 卡塔尔世界杯常规比赛时间 sources.

in most segments, people are working less and earning more, with payroll a notable exception.

and new data show the industry gearing up for a huge tax season, with tax prep employment leaping 22.5 percent over the same period last year.

here 卡塔尔世界杯常规比赛时间 reports on:

  • current hiring trends in each of the bookkeeping, tax, payroll 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.

read more →

strategic plans undermined by out-of-control partners

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2016-roundtable-outlook-for-rosenberg-map-commentary-vf-240x219too many firms are waiting to make plans.

they say “past results are no indication of future performance.” maybe. maybe not. but if anyone should know, it’s our panel of experts, their comments are drawn from the new edition of the rosenberg map survey. in this installment, the former ceo of clifton gunderson says too many firms are falling short of their own goals because of mis-managed partner teams. he doesn’t exactly blame it on greed. but we can. – rick telberg, 卡塔尔世界杯常规比赛时间 ceo

by carl george
carl george advisory

lessons from 2015:

succession remains an issue as the baby boomers are leaving the profession. i see many firms that have waited too long for succession planning, and, of course, the owners have aged. i call it the “clip the coupon for one more year syndrome”! the problem arises when that one year becomes three years, five years and longer.

more on the  2016 outlook & forecast: growth, succession plans critical for firms | cpa firm growth rates hit a wall  |  the five treacherous factors hobbling today’s cpa firm  |  sam allred: change agents needed  |  allan koltin on talent wars go from white gloves to boxing gloves  |  get the full report: the rosenberg map survey

without the next tier of leadership and ownership, some firms become very vulnerable, and they have to look at alternatives like merging up. firms in this position oftentimes see the firm value declining as “buyer” firms may view them as high-risk firms.

read more →