{"id":182,"date":"2021-05-27T14:09:51","date_gmt":"2021-05-27T14:09:51","guid":{"rendered":"https:\/\/www.innoviusresearch.com\/blog\/?p=182"},"modified":"2022-03-21T13:49:22","modified_gmt":"2022-03-21T13:49:22","slug":"us-accounting-industry-overview","status":"publish","type":"post","link":"https:\/\/www.innoviusresearch.com\/blog\/market-report\/us-accounting-industry-overview\/","title":{"rendered":"US Accounting Industry Overview"},"content":{"rendered":"\n<h5 class=\"wp-block-heading\"><strong>Introduction<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">The accounting industry in the US has been witnessed a constant increase in the past few years till 2019. This increase have gradually affected the market in terms of year-end progress, exactitude, and productiveness.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Accounting Industry Size and Growth<\/strong><\/h5>\n\n\n\n<p class=\"wp-block-paragraph\">In 2018, the revenue from accounting services in the US was valued at <strong>$111.56 billion<\/strong> and is expected to be <strong>$107.59 billion <\/strong>by 2021. There was a decrease in the revenue from the accounting services in US from 2019 onwards due to COVID-19.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">The revenue increased from 2018 to 2019 by 0.13% while it decreased by approximately 3.8% from 2019 to 2020. But the market will be steadily increasing from 2021 onwards.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gra+1.jpg\" alt=\"\"\/><figcaption><em>US Accounting Services Market During 2018-2021 ($Billion)<\/em><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">According to Statista, in 2020 Deloitte was the leading CPA firm in the US with a revenue of approximately $23.16 billion, followed by PwC with a revenue of approximately $18 billion, and Ernst &amp; Young with $15.82 billion.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gra+2.jpg\" alt=\"\"\/><figcaption><strong><em>Revenue of Top 15 Accounting Firms in the United States in 2021 ($Billion)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<h5 class=\"wp-block-heading\">Hiring Trends<\/h5>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Job Ads\/Postings for Accounting on Platforms<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As per the research conducted by Randstad, it is noticed that the job opportunities ads are published on various platforms. Company career websites, social networks and job boards were some of millennials&#8217; favorite channels to search for jobs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to data obtained from Burning Glass, the number of job postings were \u2013 <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Bookkeepers and accounting clerks: <\/strong>279,064 job postings <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Accountants<\/strong>: 203,028 job postings<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Financial analysts:<\/strong> 130,072 job postings<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p class=\"wp-block-paragraph\">Around <strong>72% of <\/strong>millennials, looked for job opportunities on company career websites, followed by 59% of <strong>millennials who <\/strong>look for job opportunities on <strong>social networks.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gra+3.jpg\" alt=\"\"\/><figcaption><strong><em>Platforms for Job Ads\/Postings for Accounting (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Unemployment Rates In The Accounting Industry<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the U.S. Bureau of Labor Statistics (BLS), in <strong>Q4 2019<\/strong>, the unemployment rate was <strong>2.9%<\/strong>, while in <strong>Q3 2019<\/strong>, it was <strong>3.3%<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The unemployment rate dropped to <strong>6.2%<\/strong> in <strong>Q1 2021<\/strong>, down from <strong>6.7%<\/strong> in <strong>Q4 2020<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Economists believe the new evidence is a turning point. <strong>Q1 2021<\/strong> was a period of rapid recruiting, and much larger increases are expected in the months ahead.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gra+4.jpg\" alt=\"Graph-Accountant-5-Innovius Research\"\/><figcaption><strong><em>Unemployment Rate in the US Accounting Industry During Q3 2019-Q1 2021 (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Top Impactful Skills for an Accountant<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to a report form Sage, the <strong>technology skills (51%) <\/strong>are the most impactful skills for accountants, followed by <strong>analytical thinking (43%)<\/strong> and <strong>leadership skills (40%). <\/strong>This follows a development in which the field in the US&nbsp;has expanded beyond fundamental skills.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-style-twentytwentyone-border\"><img decoding=\"async\" src=\"https:\/\/innoviusresearch.s3.ap-south-1.amazonaws.com\/blog\/market-research\/gra+5.jpg\" alt=\"Graph-Accountant-6-Innovius Research\"\/><figcaption><strong><em>Top Impactful Skills for an Accountant in the US (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>In-Demand Accounting Roles in 2021<\/em><\/strong> &#8211; <a href=\"https:\/\/www.innoviusresearch.com\/contact-us.php\" title=\"https:\/\/www.innoviusresearch.com\/contact-us.php\">Contact us to know the stats<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator is-style-default\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Data Sources: <a href=\"https:\/\/www.bls.gov\/\" title=\"https:\/\/www.bls.gov\/\" target=\"_blank\" rel=\"noreferrer noopener\">U.S. BUREAU OF LABOR STATISTICS<\/a>, <a href=\"https:\/\/www.statista.com\/\" title=\"https:\/\/www.statista.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Statista<\/a>, <a href=\"https:\/\/www.ibisworld.com\/\" target=\"_blank\" rel=\"noreferrer noopener\" title=\"https:\/\/www.ibisworld.com\/\">Ibisworld<\/a><\/strong><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>To know more about this market study&nbsp;<strong><a href=\"https:\/\/www.innoviusresearch.com\/contact-us.php\">Contact Now<\/a><\/strong><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more&nbsp;<strong><a href=\"https:\/\/www.innoviusresearch.com\/blog\/category\/market-report\/\">Market Reports<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Introduction The accounting industry in the US has been witnessed a constant increase in the past few years till 2019. This increase have gradually affected the market in terms of year-end progress, exactitude, and productiveness. Accounting Industry Size and Growth In 2018, the revenue from accounting services in the US was valued at $111.56 billion&hellip; <a class=\"more-link\" href=\"https:\/\/www.innoviusresearch.com\/blog\/market-report\/us-accounting-industry-overview\/\">Continue reading <span class=\"screen-reader-text\">US Accounting Industry Overview<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-report","entry"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"The accounting industry in the US has been witnessed a constant increase in the past few years till 2019.\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Innovius Research\"\/>\n\t<meta name=\"google-site-verification\" content=\"_mqmmeEisHxwHdwSq2XKJ6h6ZMf4ihO3q4ntJ20iJJI\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.innoviusresearch.com\/blog\/market-report\/us-accounting-industry-overview\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.8\" \/>\n\n\t\t<meta name=\"google-site-verification\" content=\"_mqmmeEisHxwHdwSq2XKJ6h6ZMf4ihO3q4ntJ20iJJI\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Blog - 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