|
Source: Practical Accountant
Following are selected statistics from the National MAP Survey of CPA Firm Statistics for 1004, from Marc Rosenberg of The Rosenberg Associates in Wilmette, Illinois. Most of the 249 respondent firms had annual net revenues from $2 million to $5 million:
- Revenue increased seven percent.
- Income per partner increased nine percent to $268,000.
- Twenty-five percent of the firms grew more than 10 percent.
- One-third of the firms grew less than four percent.
- Only four percent of firms realized significant revenues from Sarbanes-Oxley section 404 engagements.
- Billable hours of staff averaged 1528, up 22 hours from last year.
- Only six percent of firms expect to outsource a noteworthy number of tax returns in 2006.
- Ten percent of firms realized consequential income from financial services.
- Retiring partners sold their interests for, on average, 80 percent of fees.
- The average purchase price of small firms averaged 100 percent of fees.
- Almost half the partners are over 50 years of age.
See www.rosenbergassoc.com.
From Practical Accountant, November 2005. For the complete article, click on the following link: http://www.webcpa.com/article.cfm?articleid=15906&;pg=pracacc. |
