Accounting Services in the US - Industry Market Research Report

Accounting Services in the US - Industry Market Research Report

  • June 2021 •
  • 43 pages •
  • Report ID: 350022 •
  • Format: PDF
Crunching numbers: The tax system overhaul is expected to largely boost demand for industry operators

Abstract

Accounting Services in the US
The Accounting Services industry has grown steadily over the five years to 2019, buoyed by economic growth, rising equity markets and an increasing number of new businesses. As revenue expanded, new accounting firms have entered the industry and competition has intensified. In an attempt to boost market share, the industry’s largest players have increasingly acquired smaller companies strategically to heighten their service offerings to include ancillary consulting services. Over the five years to 2024, the industry will likely benefit from strong 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. Additionally, the tax system overhaul passed by the Trump Administration in December 2017 is expected to largely boost demand for industry operators during the outlook period as businesses and individuals seek to comply with new changes.

Operators in the Accounting Services 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) of 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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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