Recession's Impact on Small CPA Firms
Source: AICPA Blog
Following are highlights from a blog posting.
Last week, the AICPA's Private Companies Practice Section (PCPS) announced an
Economic Outlook survey, to which just over 1,000 CPA firms responded. Here are
some highlights:
| Firms with 20 professionals or less reporting no impact | 15% to 25% |
| Firms with 10 professionals or less reporting growth | 10% |
| Firms with 10 professionals or less reporting no impact | Nearly 1/3 |
| Firms reporting strain on accounts receivable | 30% |
"Larger firms have been harder hit than smaller firms, but not significantly.
This has caused some layoffs for some larger firms, but the cuts aren't deep and
are really more performance based.
Small firms seem to be just fine. In fact a few are looking for talent."
For the complete blog posting, click on the link below.
From AICPA Blog, http://economyblog.aicpa.org/, July 7, 2009, "CPA Firms Give
Economic Outlook."
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