CPA firm revenues rose a modest 1.7 percent according to a preview of the annual Rosenberg Practice Management Survey, marking the first time in two years that the growth rate increased from the prior year.
The 13-year-old benchmark study, which polled more than 400 midsized firms, said that although revenues were up for firms of all sizes, firms with annual fees in excess of $20 million experienced a higher growth rate (4.6 percent) than smaller practices in the Rosenberg MAP study.
Income per equity partner also rose in 2010, to $359,000 compared to $354,000 over the prior year.
According to the survey, the profit increase stemmed from firms continuing to operate with leaner staffing levels and limiting most staff salary increases.
Projections for 2011 indicate CPA firms forecasting a 3.5 percent revenue increase for 2011.
For more information, visit www.rosenbergsurvey.com to order the survey. Shipping will begin in early September.
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