The US accounting and tax preparation industry includes about 90,000 firms with combined annual revenue of $65 billion. Large companies include PricewaterhouseCoopers, KPMG, Deloitte Touche Tohmatsu, Ernst & Young, and H&R Block. Despite concentration at the top, the industry is fragmented: the 50 largest companies hold less than 50 percent of the market. Most firms are small, with annual revenue under $1 million; large local firms may have revenue of $5 to $10 million.

Demand for services depends on business formations, the increasing complexity of corporate business, and higher personal income. The profitability of individual firms depends on effective marketing and the right mix of services. Large firms can provide a range of services to large corporate customers and have the resources to serve customers with many locations. Midsized firms can effectively compete for large customers if they have special expertise, and by specializing in particular industries. Although the industry is labor-intensive, the high value of services produces annual revenue per employee of about $175,000 at midsized firms.

Major services include tax preparation, bookkeeping and accounting, financial auditing, and tax consulting. Tax preparation accounts for 35 percent of industry revenue, bookkeeping for 20 percent, auditing for 20 percent, tax consulting for 10 percent, and other services for 15 percent. Firms may concentrate on providing services to businesses, individuals, or both.

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Key topics covered:

-- Industry Overview

-- Quarterly Industry Update

-- Business Challenges

-- Trends and Opportunities

-- Call Preparation Questions

-- Financial Information

-- Industry Forecast

-- Website and Media Links

-- Glossary of Acronyms

Companies mentioned:

-- PricewaterhouseCoopers

-- KPMG

-- Deloitte Touche Tohmatsu

-- Ernst & Young

-- R Block

For more information visit http://www.researchandmarkets.com/reports/c36297