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Golden era ending in accounting also?

Tools
Tags
Rosenberg MAP Survey
Ken Lewis
Financial Services
Economic Slowdown
Deloitte
Bank of America
Accounting Profession
sarbox

None other than Ken Lewis, CEO of Bank of America, says that the golden era in financial services is ending. Can we say the same for the accounting profession, which was turbo charged by Sarbanes-Oxley from 2003 to 2007? A lot has been made of the minuscule job cuts made by the likes of Deloitte. But the fact that a Big Four firm and "job cuts" are mentioned in the same sentence is an indication that a moderation may be setting in. The latest Rosenberg MAP Survey shows annual net fees grew 10.8 percent in 2007, down slightly from 11.4 percent in 2006--marking the end of three straight years of acceleration. Average income per partner, however, rose to $369,000 from $350,000. The consensus view is that the tailing Sarbox work and the economic slowdown could make for a bit of sluggishness. Then again, IFRS looms on the horizon (we think). There may be a slowdown, but few will likely feel it.

For more:
- here's the survey results

Comments

I will not believe the fabric or invoices and historical events; which are transferred on to a general ledger will end.

I think if this monetary problem were studied critically. We would notice that only the principle was added or subtracted, without the accrual of interest or the cycle of services which were provided.

Vis a vis,the inclusion of services once he or she or it was charged offf as a bad debt; which prevented services to continue.

Honestly, every human being does not have the exact understanding. In order for an organization to jolt a community into the competition in the labor force. He or she has to make the decision to modify job skills.

Government is asked to participate in grants and or loans. Training is expected to be provided so that knowledge can be controlled and available. Communication is also another element which can force an organization to either go defunct or operate effectively. The environment and war.

I feel that in the Americas, education is fairly new. However, knowledge is the success of every proficient endeavor. If your employment lacks enough employees with proficient skills and abilities, you are facing mismanagement, liabilities, loss of finances, and a failed organization.

This is not new math.

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