Revenues up for firms in all size ranges.
The upcoming edition of the annual Rosenberg MAP Survey will report that revenue at accounting firms increased 3.8 percent in 2011, the latest year available, a significant improvement from the 1.7 percent increase the year before.
For 2012, projections indicate a 4.0 percent growth rate.
- Revenues were up for firms in all size ranges.
- Firms with annual fees in excess of $20 million experienced a higher growth rate of 6.5 percent than smaller firms.
- When the impact of mergers is removed, the growth rate was only 2.7 percent.
- Profits, as measured by income per partner, averaged $366,000 compared to $360,000 in 2010.
- Firms continued to hold expenses tight last year.
- Coupled with the improved growth rate, equity partner income improved.
- These tactics enabled firms to enjoy a modest improvement in profits despite the continuance of the recession.