Most CPA firms have experienced increases in revenue over their most recent fiscal year. That is the finding of the 2016 National Management of an Accounting Practice (MAP) Survey conducted by the American Institute of CPAs. The survey derived its findings from information gathered from May through June from 1,537 CPA firms about their latest financial year results.The medium growth rate from 2014 through 2016 grew for every firm segment except the $5-million-to-$10-million revenue category. However median revenue rose in absolute terms in that segment during the measured period.
Growth rates ranged from a median 4.9 percent for firms with $500,000 to $750,000 segment to a medium of 10.5 percent in the segment of firms with less than $200,000 in revenue.
Median profits grew by 11.2 percent for the studied period for firms with annual revenue of $500,000 to $750,000 and 13.3 percent for those with revenue of $750,000 to $1.5 million.
There was less sharp profit growth for the smallest firms, up 2.9 percent and the largest firms, up 4.2 percent. Profits fell by 3.7 percent for firms in the $200,000 to $500,000 segment, .9 percent for those in the $1.5-million to $5 million range, and 4 percent for those in the $5 million to $10 million group.
