Accounting Services in Florida
Over the five years to 2017, the industry has exhibited modest growth. For example, the number of businesses in the Sunshine State has increased in concert with economic growth, and many of these new companies have enlisted accounting firms to facilitate their operations. Companies within the finance sector, in particular, have increasingly relied on accounting firms to help them comply with new laws following greater regulatory oversight during the five-year period. Meanwhile, the number of adults aged 20 to 64 in Florida has increased, especially as net migration to the state has surged. Overall, these factors have contributed to growing demand for accounting services, which has been a boon to the industry. Growth for the Accounting Services industry in Florida is projected to soften slightly over the five years to 2022. The number of businesses across the state is forecast to increase less rapidly than the previous five-year period as the state's economy decelerates, contributing to slower growth in demand for accounting services. Moreover, the number of adults aged 20 to 64 is anticipated to soften as well, curbing the consumer market for accounting services. Nevertheless, greater uncertainty regarding the national tax code is projected to uphold demand, whereby companies and consumers alike will seek experienced accounting firms to plan and file taxes.
Firms in this industry are certified to audit the accounting records of public and private organizations and to demonstrate compliance to generally accepted accounting practices in the state of Florida. Certified public accountants (CPAs), included in this industry, provide a variety of accounting services, including 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.