In the black: Due to high profits in the Sunshine State, more operators are entering the industry

Over the five years to 2017, the industry has exhibited modest growth. For example, the number of businesses in the Sunshine State has increased in concert with economic growth, and many of these new companies have enlisted accounting firms to facilitate their operations. Companies within the finance sector, in particular, have increasingly relied on accounting firms to help them comply with new laws following greater regulatory oversight during the five-year period. Meanwhile, the number of adults aged 20 to 64 in Florida has increased, especially as net migration to the state has surged. Overall, these factors have contributed to growing demand for accounting services, which has been a boon to the industry...read more.

Industry Statistics & Market Size
Revenue
$5bn
Annual Growth 12-17
1.3%
Forecast Growth 17-22
Profit
Employment
31,168
Businesses
7,612
What Our Customers Say

Industry Threats & Opportunities

  • Economic growth in the Sunshine State has increased demand for industry services
  • The majority of business activity in Florida occurs in the South region of the state
  • The number of businesses is forecast to rise at a slower rate compared with the past five years
  • Industry Report - Industry Key Buyers Chapter

    Market share concentration in the Accounting Services industry in Florida is moderate. Among the estimated 7,452 accounting firms in the Sunshine State, the top four operators account for roughly 40.0% of industry revenue in 2017. The Big Four have consolidated with the largest national accounting firms throughout the past three decades, which has allowed them to capture a substantial share of industry revenue. Nevertheless, the majority of accounting firms in Florida are either small, local partnerships with a few employees or sole proprietors without a payroll. In fact, roughly three-quarters of employer firms have fewer than four employees. The...purchase to read more.

    Additional Insights for the Accounting Services in Florida Industry

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

  • Access to highly skilled workforce
  • Having a good reputation
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Number of adults aged 20 to 64 in Florida in the Accounting Services in Florida industry impact industry performance..

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    What is the Accounting Services in Florida Industry?

    Firms in this industry are certified to audit the accounting records of public and private organizations and to demonstrate compliance to generally accepted accounting practices in the state of Florida. Certified public accountants (CPAs), included in this industry, provide a variety of accounting services, including auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting.

    Industry Products
  • Tax preparation and representation services
  • Financial auditing services
  • Tax planning and consulting
  • Bookkeeping services
  • General accounting services
  • Other services
  • Industry Activities
  • Auditing
  • Providing accounting advice to corporate clients
  • Providing accounting advice to individuals and small businesses
  • Accounts preparation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Number of adults aged 20 to 64 in Florida
  • Number of businesses in Florida
  • Initial public offerings

  • Current Performance
  • Financial regulation drives growth
  • South Florida growth
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Tax code changes
  • Industry landscape
  • Table: Accounting Services in Florida Industry Revenue Outlook

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

  • Supply Chains
    Key Buying Industries
  • Manufacturing
  • Finance and Insurance
  • Real Estate and Rental and Leasing
  • Professional, Scientific and Technical Services
  • Consumers

  • Key Selling Industries
  • Business Analytics & Enterprise Software Publishing
  • Commercial Leasing
  • Computer & Packaged Software Wholesaling
  • Furniture Stores
  • Office Stationery Wholesaling

  • Products & Services
  • Tax preparation and representation services
  • Financial auditing services
  • Other services
  • Bookkeeping services
  • Tax planning and consulting
  • General accounting services
  • Chart: Accounting Services in Florida Industry Products and Services Segmentation

  • Major Markets
  • Individuals
  • Finance sector
  • Manufacturing sector
  • Retail sector
  • Other businesses
  • Utilities and mining sector
  • Nonprofit organizations
  • Public sector
  • Chart: Major Market Segmentation for the Accounting Services in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Accounting Services in Florida

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Accounting Services in Florida Industry

  • PricewaterhouseCoopersDeloitte Touche TohmatsuErnst & YoungCarr, Riggs & Ingram LLCKPMG International
  • Table: PricewaterhouseCoopers - financial performance
  • Table: Deloitte Touche Tohmatsu - financial performance
  • Table: Ernst & Young - financial performance
  • Table: Carr, Riggs & Ingram LLC - financial performance
  • Table: KPMG International - financial performance

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

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

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Accounting Services in Florida Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of Businesses in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Auditing
  • The act of reviewing a company's financial operations to ensure regulatory compliance.
  • Generally Accepted Accounting Principles (Gaap)
  • A set of common accounting rules and standards that businesses adhere to when reporting their financial statements.
  • Initial Public Offering (Ipo)
  • The issuing of a company's common stock to the public for the first time.
  • Why buy this report?

    IBISWorld’s Industry Market Report on Accounting Services in Florida is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    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 Accounting Services in Florida:
    • 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 Accounting Services in Florida 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 Accounting Services in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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