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Accounting Growth Still Strong

Author: Moe Harrison /Wednesday, May 24, 2017/Categories: SNI Companies, SNI Financial, Financial Staffing, For Job Seekers, Industry Trends, SNI Certes, Financial Staffing, For Job Seekers, Industry Trends, Accounting Now

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The nation’s accounting firms are experiencing the strongest growth in revenues since the recession, averaging 6.3% revenue growth during the last fiscal year according to the INSIDE Public Accounting’s (IPA) National Benchmarking Report.

In fact, 85% of the 540 firms participating in IPA’s Annual Survey and Analysis of Firms experienced positive organic revenue growth. More than 20% of firms reported double-digit growth, and 4% of all participating firms grew organically at a rate of more than 20%.

Merger activity continues to be strong, particularly at the level of the largest firms - $30 million and up. In this range, 45% reported at least one acquisition last year. Mergers have added an average of 3.1% to net revenue growth for the IPA 100 firms, which are the largest 100 firms in the country.

Highlights from the report include:

Average net income per equity partner (NIPEP) in public accounting firms continues to rise, with gains over last year being made in nearly every revenue band.

Revenue per full time equivalent (FTE) is one of the strongest metrics available to show how well a firm is doing from year to year. Across all revenue bands net revenue per FTE averages $179,297, up 2.8% over last year.

The $50 million-$75 million firms are showing the strongest increase in non-traditional services as a percentage of total revenue, with revenue divided nearly equally in three parts: tax, audit, and “other” services.

Professional staff turnover rates in the very largest firms (above $75 million) averaged 17.2% last year, with one in five experiencing turnover rates above 20%.

Average percentage of female ownership is at 17.5%, also an increase over last year’s 16.9%.

With most CPA firms reporting solid gains in revenue and profitability, the rest of 2017 will focus on innovating practice management and expanding efforts to enhance employee retention.

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Moe Harrison
Moe Harrison

Moe Harrison

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

Other posts by Moe Harrison
Contact author Full biography

Full biography

Moe Harrison is a Regional Vice President with SNI. With more than 15 years’ experience in recruiting and personnel management, Moe has a unique perspective on the top issues and concerns of employers and candidates in the accounting and finance fields.

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10 comments on article "Accounting Growth Still Strong"

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5/8/2018 9:10 PM

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12/17/2018 11:12 AM

It's great time of reading.


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Career Helper

5/3/2019 5:06 AM

Yeah, accounting is the subject where a lot of opportunities are presents for individuals but it doesn't mean that other fields are useless because every field has its own importance. And you will be only successful in any field when you have interest in it.


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rushessay

9/19/2019 6:59 AM

You know a lot about accounting. That's why I love reading your posts.


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greyhouseschool

10/21/2019 6:26 AM

The growth rate still strong because the ratio of the jobs which are available in the public and private sector. This year the growth will go up in the last three months of the year.


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10/27/2019 12:43 AM

Based on last year's reports, the growth of Walmart has increased by 2% when compared to previews years. Because of the Walmart survey, they know the customer's opinion. Taking the Walmart survey to win a $1000 gift card from the last two years, but I have no luck.


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walmart survey

10/27/2019 12:57 AM

Based on last year's reports, the growth of Walmart has increased by 2% when compared to previews years. Because of the Walmart survey, they know the customer's opinion. Taking the Walmart survey to win a $1000 gift card from the last two years, but I have no luck.


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academic-plus

11/14/2019 5:04 AM

The Accounting has approached to the farmers to do more hard work on the field that will be better for the farmer who looking support from the growth point of view.


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11/30/2019 2:35 AM

I think this is one of the most significant information for me. And i’m glad reading your article. But should remark on some general things, The web site style is perfect, the articles is really great : D. Good job, cheers.

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