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| Home > News > Financial and Economic News > CPA executives show modest increase in optimism about economy |
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| CPA executives show modest increase in optimism about economy |
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| 12/7/2010
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A recent survey of certified public accountants (CPAs) showed an increased amount of optimism about the future of the U.S. economy.
The latest Quarterly Economic Outlook Survey - which is conducted by the American Institute of Certified Public Accountants (AICPA) and the University of North Carolina's Kenan-Flagler Business School - found that 28 percent of CPAs who serve in executive positions are optimistic about the economy, which is up 7 percentage points from the third quarter.
Approximately 29 percent of those surveyed were pessimistic about the nation's direction in finances, which showed a decline of 11 percentage points from the previous quarter. About 43 percent of respondents were neutral on the economy. However, 61 percent of CPA executives said they believed that business conditions will not return to pre-recession levels until after 2012.
"We see a bounce in optimism tempered by caution," said Carol Scott, AICPA vice president for business, industry and government. "Corporate expectations for revenue and profit are improving with most expecting to make more money next year."
The Bureau of Labor Statistics (BLS) reports that employment opportunities for accountants and auditors will increase by 22 percent over the next eight years, which is must faster than the average employment growth rate in other industries. Applicants who have an MBA degree will likely have an advantage in their job search, according to the BLS. |
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