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AccountantsWorld Hires Hitendra Patil as Director of Practice Development

accountantsworld-logoCPA Trendlines contributor and author.

By CPA Trendlines

AccountantsWorld, a leader in cloud-based solutions for accountants, announces today the appointment of Hitendra R. Patil as director of practice development, responsible for helping accountants more fully leverage AccountantsWorld’s solutions and for advancing the company’s cloud technologies.

Hitendra has served the accounting profession for over 12 years and the technology-enabled financial services industry for 25 years in numerous capacities across multiple countries. Prior to AccountantsWorld, he worked as the chief operating officer of Pransform, Inc., a processing solutions provider for small- to medium-sized accounting, CPA and tax firms in the U.S. Before joining Pransform, Hitendra was the assistant vice president of global financial services at Viteos Technologies. He’s also the author of the critically acclaimed book, “Accountaneur: The Entrepreneurial Accountant,” devoted to helping accountants become more entrepreneurial in their quest for robust and profitable growth.

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OUTLOOK & ANALYSIS

Accounting Firms Expand at 5% Rate

cpatrendlines jobs report tiltBut why is hiring up and wages down?

By CPA Trendlines

Accounting employment in most sectors once again hit new highs, according to new CPA Trendlines research.

Gains over 5 percent were seen year over year in overall staff employment; CPA staff employment; women overall, at CPA firms and in payroll; payroll overall and staff numbers; and payroll staff hours. Unfortunately, that last group saw their earnings swing down even more.

The CPA Trendlines Monthly Jobs Report has been following a decline in wages and a simultaneous increase in headcounts, which may signal a new dynamic at play in the industry. Robert Fligel, president and CEO of RF Resources, the leading New York CPA firm M&A broker and executive recruiter, suggests several factors may be the cause. “I think firm are hiring more lower level people, like more new college grads; more home-grown talent; and the effect of outsourcing.”

In this report, CPA Trendlines highlights:

  • Current hiring trends in each of the bookkeeping, payroll, tax and CPA segments of the industry.
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce

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CHARTS & GRAPHS

The Trump Effect: Accountants See Better Business Conditions

Changes to the Affordable Care Act are envisioned.

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By Rick Telberg
CPA Trendlines Research

In the first days following Donald Trump’s presidential election victory, tax and accounting practitioners surveyed say the results have lifted their confidence in the business outlook.

Curiously, accountants appear distinctly more confident in their own futures than in the nation’s outlook as a whole.

MORE POST-ELECTION ANALYSIS:   Why Accountants Voted the Way They Did

Some 56 percent say they are “somewhat” or “much” more confident in the 18-month outlook for their own firms. Even more, about 60 percent, say the election results could be good for their clients and customers. About 59 percent see brighter prospects for themselves and their own families. And 56 percent are feeling better about the nation’s economy as a whole.

To be sure, however, your outlook may depend on who you voted for. Trump voters are decidedly more upbeat about the future than Hillary Clinton voters.

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OUTLOOK & ANALYSIS

SURVEY: New Leaders Promoting Positive Changes

Three happy businesspeople looking at laptopPeople issues still among top challenges.

By Sam Allred, Upstream Academy
The Rosenberg MAP Survey

2015 was another good year for the profession.

MORE FROM THE SURVEY: Cybersecurity Grows in Importance | Mergers Spur Growth | Accounting Profession Demands Swift Change | Don’t Just Win Work, Figure Out Why | Talent Wars, M&A Frenzy Continue | Next-Gen Leaders Getting Restless | Mergers Keep Racing Forward  | Do You Have a Firm or a Co-op? | Accountability, Equity, Compensation Are Concerns | MAP Survey Top 10 Findings | CPA Firm Revenues Rise a Hefty 8%
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Most firms across North America performed well and were pleased with their results. Most firms saw good organic growth – largely coming in non-traditional areas. More and more firms are investing significantly in growing their consulting practices – look for this to be a continuing trend.
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