Overview

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

IBISWorld’s Accounting Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Revenue is expected to grow due to acquisitions and strong performances by the major players
  • Mid-tier accounting firms have been consolidating to provide new services
  • Technological change and growth in high-value advisory services will benefit accounting firms

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    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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    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

  • Market research
  • Membership of an industry organisation
  • Establishment of brand names
  • IBISWorld analysts also discuss how external factors such as Capital expenditure by the private sector and Number of businesses in the Accounting Services industry impact industry performance..

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    New Zealand Special Report

    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 Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Capital expenditure by the private sector
  • Number of businesses
  • Business confidence index
  • IT and telecommunications adoption

  • Current Performance
  • Chart: Revenue Growth

  • Industry Outlook
  • 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
  • Public Administration and Safety
  • Health Care and Social Assistance
  • Finance
  • Professional Services
  • Consumers

  • Key Selling Industries
  • Computer and Software Retailing
  • Office Property Operators
  • Stationery Goods Retailing

  • Products & Services
  • Audit services
  • Advisory services
  • Tax services
  • Bookkeeping services
  • Chart: Accounting Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Financial services firms
  • Service and trade firms
  • Manufacturing and construction firms
  • Households
  • Other markets
  • 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
    PricewaterhouseCoopersErnst & YoungDeloitte Touche TohmatsuKPMG
  • Table: PricewaterhouseCoopers - financial performance
  • Table: Ernst & Young - financial performance
  • Table: Deloitte Touche Tohmatsu - financial performance
  • Table: KPMG - 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 (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Initial Public Offering (Ipo)
  • The offering of shares in a private company for sale to the public.
  • Mid-Cap
  • A company with market capitalisation usually between $2.0 billion and $10.0 billion.
  • Multidisciplinary Partnership
  • A partnership that includes both legal and non-legal professionals.
  • Small-Cap
  • A company with market capitalisation usually between $250.0 million and $2.0 billion.
  • 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 of 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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