The results are in from the 2002 PCPS/TSCPA National Management of an Accounting Practice (MAP) Survey, sponsored by the Texas CPA Society and PCPS, the AICPA's Alliance for CPA firms. The survey reveals the collective experiences of the more than 2,500 local CPA firms who participated in the survey this fall.
Highlights of the survey reveal:
- Despite the down economy and the negative publicity affecting the accounting profession, 98% of responding firms either grew or remained the same size as last year.
- On average, income from major service lines included tax services - 45%; write up work - 13%; audit & attestation - 11%.
- The largest expense - non-owner salaries, accounts for 25% of a firm's annual costs.
- Annual salaries for an entry level CPA were just over $31,000; and just under $67,000 for a CPA with 10 years experience.
- The average owners compensation equates to $161,481.
The average respondent firm has a total of 12 employees (eight of whom are CPAs) and revenues of approximately $1.5 million.
The Texas MAP survey started twenty six years ago and has grown to be the definitive vehicle to measure local firm performance in the United States. Over the years, the survey grew from a Texas-only focus to include input from CPA firms in multiple states. This year is the firm time the survey has been administered through a joint effort with PCPS, and is the first time the survey has been offered as a Web-based survey.
How to Get a Copy of The Report
PCPS Members - Free by visiting the PCPS Web site at www.pcps.org
Survey Participants - You should have received an e-mail about a month ago from Intellisurvey with instructions on how to receive your customized report. If not, please send an e-mail to email@example.com.
All Others - The report is available for a fee by going to http://map.pcps.org. (Note: some state societies may be subsidizing part of the fee to firms in their state. When AccountingWEB filled in the order form, the fee shown was $175.)
But Before You Buy The Report...
Editor's Note: Firms that are not members of PCPS should consider joining PCPS and getting the report for free. Member Benefits are spelled out on the PCPS Web site and the cost to join is just $35 per CPA in your firm (to a maximum of $700). AccountingWEB encourages non-PCPS member firms to visit the PCPS Membership Center and get a better value for less price!