Management accounting


U.S. finance professionals are feeling good on a number of fronts. They are optimistic about the U.S. economy and their own businesses. Most expect to make a higher profit than they did a year ago, and an increasing number say they would like to hire additional staff.

That last part is, however, becoming more of a challenge. Organizations, possibly as a result of struggling to find the right workers, are devoting more money to training existing staff, according to the most recent quarterly AICPA Business & Industry U.S. Economic Outlook Survey.

The CPA Outlook Index (CPAOI), a measure of nine equally weighted factors, rose to 72—the highest in more than six years.

U.S. economic optimism, which is one component of the index, rose two points to 67 compared with the previous quarter. Year over year, sentiment about the U.S. economy is up one point. Sentiment about the global economy was also on the rise among CPA decision-makers: In the most recent survey, 31% of respondents were optimistic about the global economy, 51% were neutral, and 18% were pessimistic. A year ago, 24% were optimistic about the global economy, 50% were neutral, and 27% were pessimistic.

The full survey is available at tinyurl.com/93a9s7n.

Where to find January’s flipbook issue

Starting this month, all Association magazines — the Journal of Accountancy, The Tax Adviser, and FM magazine (coming in February) — are completely digital. Read more about the change and get tips on how to access the new flipbook digital issues.

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Get your clients ready for tax season

Upon its enactment in March, the American Rescue Plan Act (ARPA) introduced many new tax changes, some of which retroactively affected 2020 returns. Making the right moves now can help you mitigate any surprises heading into 2022.