Mon 3 Jul 2006
The July 17th to 23rd edition of The Economist reported that accounting firms are one of the booming businesses.
This makes perfect sense to me: as new laws are enacted to tighten up policies (post-Enron, post-Worldcom, etc.) licensed and professional accountants are called in to do the job. Why isn't this headline news? Accounting doesn't have the glamour that tech has or the controversy of oil or defense contracts. Accounting — for most of us non-accountants — is all about a pencil and a calculator. But apparently, it's a quiet revolution and business has been good. (The Economist quotes a few numbers here, including a 15% growth last year among some of the larger firms, as well as one firm that grew by 600%).
If you've got an accounting designation and are looking to get out from the accounting department you commute to every day, perhaps this is the next “new old” thing.
I know one thing: you'll at least be busy during tax time each year.
The growth prospects in this business give new meaning to the concept of counting money!