Cerulli Associates, a Boston-based financial services industry researcher, projects that 401(k) assets will reach $2.5 trillion by 2008–up $700 billion from 2003. And plans geared to small businesses are growing the fastest. That’s a challenge for small business owners trying to keep up with the competition — and an opportunity for experts ready to help.
Business is good, but CPAs say the workload never eases up.
by Rick Telberg
At Large in the AICPA Insider
CPA across all areas of the profession this summer are confirming the best hopes and worst fears that the profession felt when the year was beginning. Yes, business is up across all sectors and should continue to improve, especially for public practice firms, but there are not enough people to handle the work.
Our readings are showing that two-thirds of CPAs in all sectors of the accounting profession are enjoying better business than last year. Asked to look 12 months into the future, roughly the same number expect their business conditions to be even better, although members in public practice are slightly more optimistic than members in business and industry.
[SURVEY:If so many professionals are working so hard, are business conditions to blame?]
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Business isn’t bad. In fact it may be better than some other parts of the typical professional’s life these days.
Early results from the Optimism Index suggest that at mid-year 2005, accountants and financial managers are:
1… Most optimistic about the future of their own businesses…
