March 29th, 2011

Practitioners have put their business management skills to the test within their own firms during the past two years to minimize potential damage from the economic downturn, according to a biennial survey conducted by the AICPA’s Private Companies Practice Section in conjunction with the Texas Society of CPAs. The results of the survey can help firms make business decisions by comparing themselves to peers based on firm size and region.

After a long period of steady demand for CPA services, the previous PCPS/TSCPA National MAP Survey, conducted in 2008, indicated that continued expansion was no longer guaranteed. So CPAs needed to make adjustments to prevent losses and preserve the bottom line.

“Firms really seemed to sharpen the pencil quite a bit. They really got down and managed their expenses to the bare bones to try and get through the recession,” said Mark Koziel, AICPA director–Specialized Communities & Firm Practice Management.

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