Economy

AccountingWEB Life

Lack of Savings Is Americans' Top Financial Concern

Consumers admit they're in dire need of professional financial advice, at least according to 78 percent of those who participated in the 2013 Financial Literacy Survey conducted by the NFCC and the Network Branded Prepaid Card Association.
Tax

Federal Budget Talks Focus On – What Else? – Taxes

At the very least, key members of the House and Senate are talking to each other about the federal budget. But talk – unlike the mounting debt of the country – is cheap.
A&A

Private Companies Grow; Strong Profit Margins for Accounting Firms

Private companies in the United States grew sales by approximately 9.7 percent in the period ended February 2013, about the same as in the period ended January 2013 and close to the 10.1 percent growth seen one year ago.
Practice

AICPA Survey: CPAs More Upbeat on Economic Outlook, but Still Cautious

The first quarter American Institute of CPAs (AICPA) Business and Industry Economic Outlook Survey is out, and it looks like respondents are increasingly optimistic about the US economy and their own businesses' prospects compared to the fourth quarter of 2012.
A&A

Accountants' Worries Range from Fuel Costs to Value of US Dollar

A new report, “Drivers of Change in the US,” is an analysis of a 2012 survey of 550 members of the ACCA and the IMA who were asked to rank their concerns about the changes and challenges facing the accounting profession now and in the future.
Tax

Hollywood Hands Michigan an Empty Bag

A few years ago, with giant auto manufacturing plants sitting empty and the economy dragging, Michigan threw open its doors, literally inviting Hollywood to come in and produce films economically. The bait was federal film credits, which movie producers covet.
A&A

Private Company Trends Remain Positive in January

Private companies in the United States continued to grow sales and expand their net profit margins in the period ending in January 2013. Private company credit risk also appears to be improving, with the average private company's likelihood of default currently standing around 3 percent.
A&A

Private Company Credit Risk Shows Signs of Improving

Privately held companies in the United States, on average, have a slightly improved credit position than a year ago, according to new data from Sageworks Inc., a financial information company.
A&A

House Panel Critical of PCAOB's Economic Analyses

A US House panel is investigating whether the Public Company Accounting Oversight Board (PCAOB), the nation's chief public company audit overseer, is doing enough to incorporate economic factors into new regulations it is proposing.
Practice

Survey: Fiscal Cliff Uncertainty Weighs on Business Owners

The uncertainty surrounding the "fiscal cliff" is directly impacting the strategic decisions of many US business owners, according to a new survey by Sageworks, a financial information company.
Tax

KPMG Survey: Senior Execs Weigh In on Fiscal Cliff

Almost half of senior executives polled said they don't expect an agreement on the so-called "fiscal cliff" negotiations by year-end, according to a survey of more than 2,500 business leaders conducted by KPMG's TGI.
A&A

Economic Optimism among CPAs Continues to Decline

CPA decision makers, primarily CEOs, CFOs, and controllers, are becoming more pessimistic about the future of the US economy, according to the latest AICPA Business and Industry Economic Outlook Survey.
A&A

Smaller Retailers Could Use a Holiday Boost

Holiday shopping is off to a solid start - good news for small retail companies, which have been experiencing weaker sales so far this year, according to preliminary data from Sageworks.
A&A

ACCA/IMA Survey Finds Business Confidence Falls Again

Confidence in the global economy fell in Q3 2012, according to a worldwide survey of 2,550 finance professionals, with some 67 percent of respondents saying the global economy is stagnating or reversing.
Education & Careers

Employee Confidence Index Decreases, Second Consecutive Quarter

The Mergis Group Finance and Accounting Employee Confidence Index decreased this quarter to 50.4. This was a 2.2 point decline over the second quarter of 2012, although 5.3 points higher than this time last year.
A&A

AICPA's Resolution Underscores Need to Address US Debt

Expressing concern about the growing federal debt, the AICPA has adopted a resolution underscoring the need to put America on a better economic path and supporting two non-partisan efforts.
Education & Careers

Three Percent Salary Increase 'New Normal'

While employees may not see much improvement in base pay next year, the prevalence and size of short-term incentives has increased substantially, according to the sixth annual "Compensation Planning Survey."
Election 2012

Obama Wins Reelection - But Congress Still Split

With Congress still split along partisan lines following the election, it's uncertain whether the President will be able to marshal the bipartisan spirit needed to address two of the most pressing economic issues.
A&A

Survey: National Debt Impacting Hiring Plans

According to results of a new survey released by Sageworks, a financial information company, the national debt is weighing on business owners as they consider adding workers and making other investments.
A&A

Fiscal Cliff, Deficits, and Jobs Remain Concerns

A quarterly volatility and variables poll of 540 corporate executives indicates that many CFOs are stressed and plan to be more diligent in planning and forecasting.

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