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Accounting Services in Australia: Market Research Report

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

Accounting Services Market Research Report | ANZSIC M6932 | May 2016

Count on it: A rise in private sector capital expenditure has supported industry demand

IBISWorld’s Accounting Services market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Industry Statistics & Market Size
Revenue
$19bn
Annual Growth 11-16
2.1%
Annual Growth 16-21
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Profit
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Employment
114,644
Businesses
32,187
Industry Analysis & Industry Trends

The Accounting Services industry's has grown over the past five years, shrugging off any lingering effects of the global financial crisis. Increasing private capital expenditure has boosted demand for industry services, as firms require due diligence and audit services prior to undertaking planned capital expenditure. Tax and audit services have therefore remained a dependable source of revenue for industry firms over the past five years. In addition, revenue has increased as clients have looked to accounting firms for advice on trimming costs and becoming more competitive amid challenging economic conditions. The industry has also expanded its advisory services by incorporating new technology, such as data analytics... purchase to read more

Industry Report - Starting a New Business Chapter

The barriers to entry in the industry are low and are expected to have been steady over the past five years. Despite the presence of some large operators, industry concentration is low, with many small players present. Large companies generally cater to different markets than small- to medium-size firms and sole proprietors, meaning that entry for new players is not restricted by the dominance of existing firms. However, new entrants are likely to find it difficult to compete with the large and mid-tier firms in the industry, due to their economies of scale and well-established brands and reputation.

Start-up costs for accounting practices are relatively small, as the industry is labour-intensive rather than capital-intensive... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Accounting Services Industry?

Firms in the industry are primarily engaged in the provision of accounting, auditing and bookkeeping services. The services provided relate to all areas of taxation, financial reporting and auditing. Many firms also offer business advice and assistance.

Industry Products
Audit servicesAdvisory servicesTax ServicesBookkeeping
 
Industry Activities
Accounting Auditing Bookkeeping Tax agent service provision


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