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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 | Jan 2017

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 Statistics & Market Size
Revenue
$20bn
Annual Growth 12-17
2.6%
Annual Growth 17-22
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Profit
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Employment
115,557
Businesses
32,573
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... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Accounting Services industry is in the mature phase of its life cycle. Continuing industry consolidation, along with increasing cost-cutting efforts and industry rationalisation indicates a mature industry. In spite of this, industry value added (IVA), a measure of the industry's contribution to the overall economy, is forecast to grow by an annualised 3.4% over the 10 years through 2021-22. This represents an industry expanding at a greater rate than the overall economy, which is forecast to grow at an annualised 2.5% over the 10 years through 2021-22. This growth is primarily attributed to growth in the tax advisory and assurance services, which are predominantly provided by the medium to large industry players... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

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 servicesAdvisory servicesTax servicesBookkeeping services
 
Industry Activities
Accounting Auditing Bookkeeping Providing tax agent services


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