One of the profession’s top seers predicts vast changes in the way CPAs work.
by Rick Telberg
If you think you’ve seen big changes in finance departments and accounting firms over the last few years as a result of the wrenching recession, hold on. You ain’t seen nothing yet.
“There will be huge shifts in the way we work,” CPA Leslie Murphy was telling me. She speaks with some knowledge and authority. A former chair of the AICPA, Murphy is president and CEO of Murphy Consulting Inc., and an architect of the Plante & Moran strategies which have made the firm a Fortune “100 Best Companies to Work For” winner for ten years.
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Zero employment growth: “one of the best performances in years.”
The National Federation of Independent Business Index of Small Business Optimism gained 2.7 points in October rising to 91.7, not a huge move, but at least a decent jump, perhaps anticipating an acceleration in economic activity.
Still, the Index remains in recession territory. Consumer spending and consumer sentiment remain weak, indicating that top line growth on Main Street will remain sluggish. The profit picture did improve, supported by increased reports of quarter-to-quarter positive sales trends. However, both sales Index components are still very negative historically but are heading in the right direction.
Average employment growth per firm was 0 (zero) in October, one of the best performances in years. Employment change has been negative in all but two quarters since April of 2007. Reaching the 0 (zero) change level raises the odds that Main Street may contribute to private sector job growth for the first time in over a year. Ten percent have one or more current job openings, down a point from the prior month.
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