Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

  Business Executives Grow More Optimistic About Hiring Plans for Coming Year, AICPA Survey Finds

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/10/2013 | 01:00pm CET

Results Tempered by Wariness on U.S. Economic Outlook

While still cautious about the economy, business executives continue to raise their expectations for hiring in the coming year, according to the third quarter AICPA Economic Outlook Survey, which polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

Last Friday's U.S. Department of Labor report on August employment showed that current hiring trends are still relatively weak. The American Institute of CPAs survey, however, serves as a forward-looking indicator of hiring expectations over the next 12 months. Some 15 percent of respondents now say they have too few employees and are planning to hire in the next 12 months, up from 12 percent last quarter and 9 percent a year ago. Another 19 percent say they have too few employees but are reluctant to bring on new staff.

"We've seen expectations on hiring and business expansion gain steadily throughout the year," said Arleen R. Thomas, CPA, CGMA, AICPA's senior vice president of management accounting and global markets. "Our latest survey results support that but also show some renewed concern about prospects for the U.S. economy."

The CPA Outlook Index --a comprehensive gauge of executive sentiment within the survey-- remains unchanged from last quarter at 69 points. 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.

Most elements of the index rose modestly or were unchanged. U.S. economic optimism fell four points, in part due to concerns about health-care reform and political gridlock. Organization optimism--how executives feel about their own companies--slid a single point after a steady increase in each of the previous three quarters. Significantly, however, each component of the index is higher now than a year ago, with U.S. economic optimism up 21 points year-over-year, despite this quarter's dip.

Other findings of the survey include:

  • Key Performance Indicators - Profit and revenue expectations continue to track upwards at a modest pace.
  • Hiring - Some 53 percent of business executives say their companies have the right number of employees. The largest companies (those with more than $1 billion in annual revenue) are more likely than other businesses to say they have too few employees. On an industry basis, the construction, technology, and professional, technical and scientific services sectors are expected to see the biggest job growth.
  • Health-Care Costs - Expected cost increases in this category rose to 6.8 percent, up slightly from the previous quarter and the highest level since the fourth quarter of 2010.

Arleen Thomas and members of the AICPA's Business and Industry Executive Committee are available for interviews on the survey results and what they mean for businesses in the coming months.

Methodology

The third quarter AICPA Business and Industry Outlook Survey was conducted between August 13-29, 2013, and included 1,228 qualified responses from CPAs who hold leadership positions, such as chief financial officer or controller, in their companies. The overall margin of error is less than plus-or-minus 3 percentage points. A copy of the full report can be found on aicpa.org.

About the AICPA

The American Institute of Certified Public Accountants (AICPA) is the world's largest member association representing the accounting profession, with more than 394,000 members in 128 countries and a 125-year heritage of serving the public interest. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for audits of private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination and offers specialty credentials for CPAs who concentrate on personal financial planning; fraud and forensics; business valuation; and information technology. Through a joint venture with the Chartered Institute of Management Accountants (CIMA), it has established the Chartered Global Management Accountant (CGMA) designation to elevate management accounting globally.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Media representatives are invited to visit the AICPA Press Center at aicpa.org/press.

Mitchell Slepian, 212-596-6177
mslepian@aicpa.org
or
Gil Nielsen, 212-596-6008
gnielsen@aicpa.org


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news
Date Title
02:46p DETECTION TECHNOLOGY OYJ : Plc - Managers' Transactions
02:46p MOBI724 GLOBAL SOLUTIONS INC. (CSE : MOS) Issuance of Shares Pursuant to Provisions Concerning the Acquisition of the Remaining 49% Shares of Mobi724 Solutions Inc. ("Solutions Inc.")
02:45p JARDINE LLOYD THOMPSON : Lloyd's of London names Carnegie-Brown as chairman
02:43p Streptococcus Pneumoniae (Pneumococcus) Infections - Global API Manufacturers, Marketed and Phase III Drugs Landscape, 2017-2018 - Research and Markets
02:42p Not ready to pay any price for IMF in Greece - Slovakia's Kazimir
02:42p OSLO BORS VPS : Mandatory notification of trades - Oslo Børs VPS Holding ASA
02:42p STATISTICS CANADA : Stocks of frozen and chilled meats, January 2017
02:42p STATISTICS CANADA : Specialized design services, 2015
02:42p ABERDEEN NEW THAI INVESTMENT TRUST : Inv Trust PLC - Net Asset Value(s)
02:42p SHIRES INCOME : Net Asset Value(s)
Latest news
Advertisement
Hot News 
-7.48%Unilever PLC Statement re Possible Offer
-12.78%WORLEYPARSONS : CEO Eyes US Oil Sector Turnaround -- Update
-29.42%Interserve shares slump on higher energy-from-waste exit cost
-7.43%GEMFIELDS : says India's demonetisation drive to hurt full year results
1.96%BANK OF COMMUNICATIONS : China Regulator Has No Objection to Planned Spinoff of Bocom International
Most Read News
04:06a Snap bets on hardware as Facebook threat looms
02:16aDJKraft Heinz Company (The) Offer Update
02/19 Kraft walks away from 'friendly' bid for Unilever
08:31a UK union fears grow over future of GM's Vauxhall plants
04:32a KRAFT HEINZ : pull out of Unilever bid
Most recommended articles
08:39aDJROYAL DUTCH SHELL A : Shell Sees No Glut of Liquefied Natural Gas as Demand Rises
08:33a GENERAL MOTORS : Germany sees encouraging signs on jobs in Opel talks
08:31a PEUGEOT : PM May to meet Peugeot head, determined to protect UK car industry
08:26a EXCLUSIVE - CHINA'S GEELY TO BID FOR MALAYSIAN CAR MAKER PROTON : sources
08:18a Vale scraps controlling bloc, merges shares in major transparency move