2004 was a banner year for local and regional firms across the U.S., with many reporting salary increases and double-digit revenue growth, according to this year's PCPS/Texas Society of CPAs National Management of an Accounting Practice Survey.
While 32 percent of the 2,373 local and regional firms surveyed saw no change or a modest change in gross fees this year, the same number experienced an increase in revenue of at least 10 percent, while 14 percent indicated an increase of greater than 20 percent in their most recent fiscal year. Nearly half (48.3 percent) had an increase of at least 6 percent. Average total revenues for firms responding to the survey were $1.48 million.
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