First Research US Industry Profile

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Accounting Services
SIC Codes: 8721
NAICS Codes: 5412
Last Quarterly Update: 8/19/2019
Companies in this industry provide services such as auditing, bookkeeping, payroll processing, and tax return preparation. Major companies include the "Big Four" accounting firms: Deloitte Touche Tohmatsu, Ernst & Young, KPMG, and PricewaterhouseCoopers, which all have international operations; other leading companies include US-based Automatic Data Processing (ADP), Paychex, and H&R Block.
Worldwide, the Big Four dominate the market and have expanded in many countries by buying local firms. In countries such as China, the Big Four have affiliated with local firms. However, concern over the share of the audit market held by the Big Four has led European regulators to impose new rules meant to enhance competition.
The US accounting services industry includes about 133,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $140 billion.
Competitive Landscape
Demand for accounting services depends on new business formations, the increasing complexity of corporate business, and personal income. The profitability of individual firms depends on the right mix of services and effective marketing. Large firms have advantages in providing wider ranges of services to large corporate clients and having the resources to serve customers with many locations. Small firms can compete effectively by specializing and providing superior service. The US industry is fragmented: the 50 largest US companies account for just less than 50% of revenue.
Products, Operations & Technology
Payroll services account for 25% of US industry revenue; tax preparation and auditing each account for about for 20%. Tax planning and consulting, bookkeeping, ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

03/25/2019
12/17/2018
09/03/2018
06/04/2018
03/05/2018
11/27/2017
08/28/2017
05/29/2017
02/27/2017
11/21/2016
08/22/2016
05/23/2016
02/22/2016
11/16/2015
08/10/2015
05/18/2015
02/16/2015
11/17/2014
08/25/2014
05/26/2014
03/03/2014
11/25/2013
09/02/2013
06/10/2013
03/18/2013
12/10/2012
09/17/2012
07/02/2012
04/09/2012
12/19/2011
09/26/2011
06/20/2011
03/07/2011
11/22/2010
08/30/2010
05/24/2010
02/22/2010