Adding up: Demand for accounting services will rebound as clients make plans to expand

After experiencing a brief dip during the recession, revenue for the Global Accounting Services industry is expected to increase over the five years to 2017. Industry growth was underpinned by steady economic growth in developed nations as well as continued strength in many emerging nations. In addition, rising global equity values, an increase in investor optimism and an increase in demand for capital market advisory work helped propel revenue growth for the entire Global Accounting Services industry. Over the five years to 2022, a projected expansion in the global economy and global equities will foster revenue growth for the industry's audit and assurance services...purchase to read more.

Industry Statistics & Market Size
Revenue
$495bn
Annual Growth 12-17
3.4%
Forecast Growth 17-22
x.x%lock
Profit
x.x%lock
Employment
6.0m
Businesses
1.3m
Market Share of Companies
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Industry Report - Industry Investment Chapter

Capital intensity in the Global Accounting Services industry is low. According to IBISWorld estimates, for every $1.00 spent on wages, an estimated $0.03 is spent on capital investments. In this labor-intensive industry accountants are highly educated and knowledgeable in their field. Many employees are accredited professionals and work frequently requires personal service and face-to-face contact with clients. Accountants must also keep up-to-date of any changes to tax codes created by government agencies or acts of legislation. All of these factors contribute to high salaries in the industry and wages' expected 46.1% share of total industry revenue in 2017...purchase to read more.

Additional Insights for the Global Accounting Services Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Global Accounting Services Industry are

  • Ability to quickly adopt new technology
  • Having a good reputation
  • Having a loyal customer base

    • IBISWorld analysts also discuss how external factors such as World GDP and MSCI World Index in the Global Accounting Services industry impact industry performance..

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    What's in this report

    Industry Products

    What is the Global Accounting Services Industry?

    Accounting firms provide a range of financial services related to accounting. These include preparation and auditing of financial statements; tax consulting and preparation of tax returns; bookkeeping; accounting systems design; and financial and business advisory services.

    Industry Products
  • Auditing
  • Tax services
  • Other accounting services
    • Industry Activities
  • Auditing
  • Accountancy
  • Bookkeeping
  • Tax consultancy and advisory
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • World GDP
  • MSCI World Index
  • GDP of the BRIC nations
  • Total value of world trade

    • Current Performance
    Emerging markets lead, developed markets followValue-added service expansionProfit and industry structure
  • Chart: Revenue Growth

    • Industry Outlook
    Growth opportunitiesEnterprise and employment expansion
  • Table: Global Accounting Services Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Global Accounting Services Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Global Manufacturing
  • Global Financial Intermediation
  • Global Public Administration and Defense

    • Key Selling Industries
  • Global Commercial Real Estate
  • Global Computer Hardware Manufacturing
  • Global Wired Telecommunication Carriers

    • Products & Services
  • Auditing
  • Tax services
  • Other accounting services
  • Chart: Global Accounting Services Industry Products and Services Segmentation

    • Demand Determinants
    Major Markets
  • Energy, healthcare, technology and professional services
  • Banking and financial services
  • Small businesses and individuals
  • Other corporate clients
  • Consumer goods manufacturing and retail
  • Government agencies
  • Chart: Major Market Segmentation for the Global Accounting Services Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Global Accounting Services

    • Basis of Competition
  • Internal competition
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Global Accounting Services Industry

    • Industry Globalization

    Major Companies

    Deloitte Touche Tohmatsu, PricewaterhouseCoopers International Limited, Ernst & Young International, KPMG International,
  • Table: Deloitte Touche Tohmatsu - financial performance
  • Table: PricewaterhouseCoopers International Limited - financial performance
  • Table: Ernst & Young International - financial performance
  • Table: KPMG International - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Global Accounting Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Global Accounting Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • MSCI World Index (2008-2022)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Auditing
  • Reviewing a company's financial operations to ensure regulatory compliance.
    • Management Accounting
  • Provision of accounting information within an organization, to be used by managers in decision making.
    • Tax Accounting
  • The reporting of information required for compliance with tax regulations.
    • What Our Customers Say
    Why buy this report?

    The global economy presents its own set of opportunities and threats for businesses in a range of industries. IBISWorld’s Global Accounting Services global market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report focuses on industry performance in key regions around the world and identifies the leading companies globally.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Global Accounting Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Global Accounting Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Global Accounting Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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