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 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 Investment Chapter

The Accounting Service industry has a low level of capital intensity. IBISWorld estimates that for every dollar spent on wages, the industry invests $0.03 in capital. As with most professional service industries, wages account for the largest portion of revenue, due to the high level of skill necessary to perform accounting tasks. Industry employees usually have a tertiary degree, and are required to undergo further education throughout their careers. Depreciation costs are usually related to computer and software purchases, and office equipment. Industry players typically rent out office space to minimise depreciation costs. The industry is characterised by high profits, attributed to the use of skilled workforce and a significant portion of sole proprietors.

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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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