The American Institute of CPAs' Private Companies Practice Section and the Texas Society of CPAs have begun their fifth annual survey of management policies at small and midsized CPA firms.
The Management of an Accounting Practice Survey, available online at http://map.pcps.org, includes questions on billing rates, chargeability ratios and compensation. Results will provide local and regional CPA firms with information they can use to compare their management policies and financial results against their peer group and identify their strengths and weaknesses. The information is segmented by firm size and revenue, from sole practitioners to larger firms.
All participants will receive a free summary report comparing their firm's results with national averages. Participating PCPS member firms and Texas firms will receive a more comprehensive and interactive report with data tailored to firm size and region. They will also gain access to an online reporting tool that allows them to filter the data and create customized benchmarks displaying segmentations beyond those in the regular reports.
Forty-five state CPA societies are involved this year, increasing the chances that the survey will break previous participation levels. Many CPA firms have received an e-mail invitation to participate in the online survey. The survey will close on July 11 and results will be available in September 2008.
The report is free to all PCPS member firms. Non-member firms interested in obtaining a copy can visit www.aicpa.org/pcps to join PCPS and access free results or to purchase a report. PCPS membership costs $35 per CPA in the firm, up to a maximum of $700.
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