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Accounting Services in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Accounting Services Market Research Report | NAICS 54121c | Jan 2017

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

The Accounting Services market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$104bn
Annual Growth 11-16
5.8%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
529,724
Businesses
95,653
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
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Industry Analysis & Industry Trends

Over the past five years, the Accounting Services industry has grown, buoyed by economic growth, rising equity markets and a growing number of new businesses. Furthermore, to boost revenue, the industry's largest players have also increasingly acquired smaller companies and made strategic purchases to increase their service offerings to include consulting services. Over the next five years, the industry is expected to grow. The industry will benefit from stronger aggregate private investment, a growing number of US businesses and higher activity in financial markets, including increases in initial public offerings and mergers and acquisitions activity.


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Industry Report - Industry Analysis Chapter

The Accounting Services industry has experienced solid growth over the past five years, as growth from general economic strengthening has replaced countercyclical demand stemming from economic turbulence. Bankruptcy and restructuring services provided some business for operators prior to the period, but more stable and consistent demand driver growth has helped the industry expand over the past five years. Buoyed by economic growth, rising equity markets and a growing number of new businesses, demand for the industry’s traditional services, including auditing, accounting, advising and tax preparation has grown and industry revenue has risen. Overall, in the five years to 2016, industry revenue is expected to increase an annualized 5.8% to $103.9 billion. In .. ... purchase to read more

Additional Insights for the Accounting Services Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Accounting Services 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 Initial public offerings in the Accounting Services industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Accounting Services 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 servicesFinancial statement review servicesOther financial assurance servicesGeneral accounting servicesTax planning and consulting servicesIndividual tax preparation and representative servicesCorporate tax preparation and representative servicesOther services
     
    Industry Activities
    AuditingProviding accounting advice to corporate clientsProviding accounting advice to individuals and small businessesAccounts preparation


    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
  • Corporate profit
  • Initial public offerings
  • Demand from finance and insurance
  • Number of businesses
  • Number of adults aged 20 to 64
  • Current Performance
  • Demand drivers and countercyclical demand
  • Demand driver growth
  • New sources of income
  • Profit and business expansion
  • Chart: Revenue Growth
  • Industry Outlook
  • Growth prospects
  • Service expansion
  • Consumer competition
  • New players amongst consolidation
  • Table: Accounting Services Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Accounting Services Industry Lifecycle vs The Economy
  • Products & Markets
    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
  • Other services
  • Corporate tax preparation and representative services
  • Individual tax preparation and representative services
  • Tax planning and consulting services
  • General accounting services
  • Financial statement review services
  • Other financial assurance services
  • Chart: Accounting Services Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Finance sector
  • Individuals
  • Manufacturing sector
  • Retail sector
  • Other businesses
  • Utilities and mining sector
  • Public sector
  • Nonprofit organizations
  • Chart: Major Market Segmentation for the Accounting Services Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Accounting Services
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Accounting Services Industry
  • Industry Globalization
    Major Companies
    Deloitte Touche Tohmatsu
    PricewaterhouseCoopers
    Ernst & Young
    KPMG International
  • Table: Deloitte Touche Tohmatsu - financial performance
  • Table: PricewaterhouseCoopers - financial performance
  • Table: Ernst & Young - financial performance
  • Table: KPMG International - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the 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 Accounting Services Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Number of businesses (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    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.

  • Why Buy this Report?
    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:
    • 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 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 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, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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