Accounting Services in Australia - Industry Market Research Report

Accounting Services in Australia - Industry Market Research Report


Accounting Services in Australia

Revenue in the Accounting Services industry has inched upwards in recent years, despite mixed operating conditions. Audit and tax services have remained a dependable source of revenue for accounting firms, as some businesses legally require these services. Nonetheless, swelling price competition has limited the profit margins associated with providing these services. Climbing demand for industry-specific advisory services has buoyed revenue in recent years, with many accounting firms expanding their advisory services. Accounting firms are increasingly incorporating technology like data analytics and cloud-based accounting into their processes, which has expanded value-added services. These value-added services have larger profit margins than traditional tax and audit processing, encouraging firms to diversify. Overall, industrywide revenue has crept upwards at an estimated annualised 0.1% over the past five years and is expected to total $27.1 billion in 2022-23. This includes an anticipated 0.8% slump in 2022-23, following a drop in business confidence.

Industry companies provide accounting services, including auditing accounting records, preparing financial statements, preparing tax returns and bookkeeping. In conjunction with these services, industry companies may also offer business advice and assistance. Payroll processing, billing and record-keeping services are excluded from the industry.

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."


ABOUT THIS INDUSTRY

Industry Definition
Main Activities
Similar Industries
Additional Resources

INDUSTRY AT A GLANCE

INDUSTRY PERFORMANCE

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

PRODUCTS & MARKETS

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

COMPETITIVE LANDSCAPE

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization

MAJOR COMPANIES

OPERATING CONDITIONS

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

KEY STATISTICS

Industry Data
Annual Change
Key Ratios

JARGON & GLOSSARY

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