Accounting Services in New York - Industry Market Research Report

Adding up: Attempts at tax reform will likely drastically enhance demand for industry services

Accounting Services in New York

The Accounting Services industry in New York is deeply entrenched in the New York state economy and has an outsized importance on the domestic industry, accounting for an estimated 13.6% of the national revenue, higher than its proportion of the national population. Many of the largest companies in the industry are headquartered in the New York City metropolitan area, and every major player in the industry has at least some presence in the city and surrounding regions. Over the next five years, the industry is expected to grow along with the general New York economy and strengthening private investment. Additionally, current attempts at tax reform could drastically enhance the need for companies to seek out tax assistance from industry operators. Consolidation from the largest industry players is forecast to continue; however, the overall industry structure will still be dominated by small, nonemploying operators.

Operators in this industry are certified to audit the accounting records of public and private organizations and to demonstrate compliance to generally accepted accounting practices. Certified public accountants (CPAs), which are included in this industry, provide a variety of accounting services, such as auditing accounting records, designing accounting systems, preparing financial statements, developing budgets and providing advice on matters related to accounting.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.