2006 Practice Management Statistics

Source: Accounting Office Management & Administration Report

AOMAR’s 2007 CPA Firm Practice Management Survey reports average revenues for CPA firms were $7,300,000.

Realization averaged 96.8 percent implying a need to increase billing rates.

Average partner income was nearly $257,000.

In the past year, 17.4 percent of firms increased owner’s required capital, and 77.9 percent kept it the same.

Average collection period for accounts receivable was 55.1 days.

Fee increases for next year are expected to be over 10 percent for nearly a quarter of all firms, and five to 10 percent for 45 percent of firms.

Statistical charts are available by clicking on the link to the complete article, below.

The complete AOMAR 2007 CPA Firm Practice Management Survey results are available for purchase in the AOMAR 2007 CPA Firm Statistical Analysis Reference Handbook. Call IOMA at 212-244-0360, extension 2, and ask for report 2048C. Or e-mail [email protected] for more information. Cost: $329 plus $9.95 shipping/handling.

From Accounting Office Management & Administration Report, January 2007, p. 1. For subscription information contact Institute of Management & Administration, Inc., 3 Park Avenue, 30th Floor, New York, NY 10016-5902. One-year subscription $399. 212-244-0360, [email protected]. For the complete article, click here.