Overview

Taking account: New technology and advisory services are helping widen profit margins

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

Industry Analysis & Industry Trends

The Accounting Services industry has grown over the past five years on the back of steady economic growth and increasing demand for industry-specific advisory services. Tax and audit services have remained a dependable source of revenue for industry firms over the past five years, as demand for these services does not depend on economic conditions. In addition, revenue derived from high-value advisory services has increased as clients have looked to accounting firms for advice on trimming costs and becoming more competitive amid challenging business conditions. The industry has also expanded its advisory services by incorporating new technology, such as data analytics and cloud services. These value-added services have larger profit margins than traditional tax and audit processing...

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Industry Report - Starting a New Business Chapter

Industry barriers to entry are low and are expected to have remained steady over the past five years. Despite the presence of 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 the dominance of existing firms does not restrict new player entry. However, new entrants are likely to find it difficult to compete with the large and mid-tier firms, 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. Whi..

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Industry Products

What is the Accounting Services Industry?

Industry firms primarily provide accounting, auditing and bookkeeping services. These services relate to all areas of taxation, financial reporting and auditing. Many industry firms also offer business advice and assistance.

Industry Products
Audit services
Advisory services
Tax services
Bookkeeping services
Industry Activities
Accounting
Auditing
Bookkeeping
Providing tax agent services

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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