Overview

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

IBISWorld’s Accounting Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 - Industry Key Buyers Chapter

The industry has a low level of market share concentration. The top four accounting firms in the industry, PricewaterhouseCoopers (PwC), Ernst & Young (EY), KPMG and Deloitte, are forecast to account for less than 30% of industry revenue in 2016-17. The industry’s low level of concentration is a result of more than half of its operators being sole proprietors. Over 98% of industry enterprises employ 20 people or less. These smaller firms, such as H&R Block, typically service individuals or small businesses.

Unlike the industry’s smaller players, the top four firms tend to service large companies. The..

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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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