{"id":62048,"date":"2019-06-07t12:30:57","date_gmt":"2019-06-07t16:30:57","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=62048"},"modified":"2019-06-18t13:46:40","modified_gmt":"2019-06-18t17:46:40","slug":"accountants-worry-anew-about-recession","status":"publish","type":"post","link":"\/\/www.g005e.com\/2019\/06\/07\/accountants-worry-anew-about-recession\/","title":{"rendered":"recession-proofing your business"},"content":{"rendered":"
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source: aicpa<\/figcaption><\/figure>\n

accountants in industry and in practice are taking a dimmer view of the economic and business outlook<\/strong><\/p>\n

by 卡塔尔世界杯常规比赛时间 research<\/em><\/p>\n

recession-proofing your practice:<\/strong><\/span>
\njoin the survey. get the results.<\/span><\/a><\/span><\/p>\n

new 卡塔尔世界杯常规比赛时间 soundings show concerns are building among both public and corporate accountants about the outlook for both the u.s. and global economies.<\/p>\n

among the 卡塔尔世界杯常规比赛时间 subscribers in the public sector,\u00a0 confidence has sunk more than a point on a three-point scale to a negative 0.4 from a positive 0.9, driven by a tough tax season, tariff wars, and a slowing economy.<\/p>\n

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“all indicators point to an economic slowdown, even though several of our clients are opening or purchasing new businesses,” one practicing professional tells 卡塔尔世界杯常规比赛时间.<\/div>\n
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another adds, “the economy will remain sluggish to flat on the national front and as we get closer to elections no progress will be made in congress.”<\/div>\n
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“i believe we are headed for a long overdue recession,” says another.<\/div>\n<\/div>\n
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meanwhile, the aicpa says business executives have revised expectations downward for a number of categories that impact their companies.<\/div>\n
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some 57 percent of survey takers expressed optimism about the u.s. economy\u2019s outlook over the next 12 months, the third straight quarter it\u2019s held at that level since dropping from 79% at the start of 2018. u.s. executives also continue to hold a dim view of the global economy, with only 35 percent expressing optimism, up a single percentage point from last quarter.<\/p>\n

in recent quarters, business executives had kept a more upbeat view of expansion prospects and their own companies\u2019 outlook. that sentiment has gradually eroded over the course of the year, however, and both categories now stand at their lowest level since late 2016. the same holds true for 12-month revenue and profit expectations, which slid this quarter from 4.4 percent to 4.2 percent and 3.6 percent to 3.1 percent, respectively.<\/p>\n

\u201cwhile business executives\u2019 expectations for their companies and the perceived environment those companies will be operating in over the next year have been tracking downwards, there\u2019s been a slight disconnect between these for the past few quarters\u201d said ash noah, cpa, cgma, managing director of cgma learning, education and development for the association of international certified professional accountants, the global organization that includes the american institute of cpas (aicpa) and the chartered institute of management accountants (cima). \u201cin this quarter, we\u2019ve seen a bit of a reset and the indicators are more closely aligned. with so much uncertainty over trade and other global issues, companies are taking a more conservative stance on their potential performance.\u201d<\/p>\n

availability of skilled personnel remains the top challenge for businesses, a position it has occupied since the third quarter of 2017. two other staffing-related issues are among the top five challenges cited by survey takers this quarter: employee and benefit costs (no. 2) and staff turnover (no. 5).<\/p>\n

with a tight labor market, business executives forecast a 2.7 percent increase in salary and benefit costs over the next twelve months, a 0.1 percent increase over last quarter\u2019s forecast. asked for more specifics in a separate question, some 86 percent of respondents said they expected to raise salary and wages in the next 12 months, with most (64 percent) saying they expected those increases to fall between three and five percent. only eight percent said they didn\u2019t expect to raise salaries and wages at all. these numbers track closely with results from the last time the question was asked at the end of 2018.<\/p>\n

the aicpa survey is a forward-looking indicator that tracks hiring and business-related expectations for the next 12 months. in comparison, the u.s. department of labor\u2019s may employment report, scheduled for release tomorrow, looks back on the previous month\u2019s hiring trends.<\/p>\n

the cpa outlook index\u2014a comprehensive gauge of executive sentiment within the aicpa survey\u2014 fell a single point to 75 from last quarter. the index is a composite of nine, equally weighted survey measures set on a scale of 0 to 100, with 50 considered neutral and greater numbers signifying positive sentiment.<\/p>\n

other key findings of the survey:<\/strong><\/p>\n