Adding up: Stronger aggregate private investment will fuel industry revenue growth

The Accounting Services industry in New York is deeply entrenched in the New York state economy and has an outsized importance on the domestic industry, accounting for an estimated 13.6% of the national revenue, higher than its proportion of the national population. Many of the largest companies in the industry are headquartered in the New York City metropolitan area, and every major player in the industry has at least some presence in the city and surrounding regions. Over the next five years, the industry is expected to grow along with the general New York economy and strengthening private investment. Additionally, current attempts at tax reform could drastically enhance the need for companies to seek out tax assistance from industry operators...read more.

Industry Statistics & Market Size
Revenue
$15bn
Annual Growth 12-17
4.1%
Forecast Growth 17-22
Profit
Employment
54,786
Businesses
7,185

Industry Threats & Opportunities

  • Industry profit margins have improved due to rising accounting fees and higher client volumes
  • Larger firms have benefited from offering an increasing number of services over the past five years
  • The industry will benefit from stronger business activity and an overall improving economy
  • Industry Report - Industry Key Buyers Chapter

    In 2017, IBISWorld expects the industry's four largest players of the Accounting Services industry in New York to account for less than 50.0% of revenue, indicating a moderate level of concentration. The Accounting Services industry in New York is subject to a moderate amount of concentration. The “big four” account for a large share of industry revenue at the national level and all four of these firms have national headquarters in New York City. Many of the large financial firms and other high-value clients are also located in New York City and the Big Four service many of these large clients. Bec...purchase to read more.

    Additional Insights for the Accounting Services in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Accounting Services in New York 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 Businesses in New York in the Accounting Services in New York industry impact industry performance..

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    What's in this report

    What is the Accounting Services in New York 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. 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
  • Financial auditing services
  • General accounting services
  • Tax planning and consulting
  • Tax preparation and representation services
  • Bookkeeping and other services
  • Industry Activities
  • Preparing audits for corporate clients
  • Providing accounting advice to corporate clients
  • Providing accounting advice to individuals and small businesses
  • Providing general accounting services
  • 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 Businesses in New York
  • Initial public offerings
  • Per Capita Disposable Income in New York

  • Current Performance
  • Industry structure
  • Cyclical and countercyclical demand
  • New sources of income
  • Chart: Revenue Growth

  • Industry Outlook
  • Growth prospects
  • Consumer competition
  • New players amongst consolidation
  • Growing uncertainty
  • Table: Accounting Services in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Accounting Services in New York 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
  • Financial auditing services
  • Tax preparation and representation services
  • Bookkeeping and other services
  • Tax planning and consulting
  • General accounting services
  • Chart: Accounting Services in New York Industry Products and Services Segmentation

  • Major Markets
  • Financial services companies
  • Manufacturers
  • Retailers
  • Other businesses
  • Utilities and mining operators
  • Individuals
  • Government and nonprofit entities
  • Chart: Major Market Segmentation for the Accounting Services in New York 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 New York

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Accounting Services in New York Industry

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

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Accounting Services in New York 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 New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Corporate profit (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.
  • Initial Public Offering (Ipo)
  • The issuing of a company's common stock to the public for the first time.
  • International Financial Reporting Standards (Ifrs)
  • The standards, interpretation and framework for financial reporting adopted by the International Accounting Standards Board.
  • What Our Customers Say

    Why buy this report?

    The Accounting Services in New York industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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

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