Accounting Industry Analysis
Student’s Name
Affiliation
For any business to operate, accounting activities have to take place as records and everything happening in the industry has to be taken into account. Accounting is an essential department as it helps in recording, reporting, and analysing financial transactions within a business which means it is imperative for information to be appropriately stored. Through the accounting process, companies can see their profit or loss as well their assets and liabilities too. USA’s economy is robust; its gross domestic product (GDP) showed a positive growth in every state in the year 2017. This was a result of the good environment of doing busineXX in the country. The XXXXXXXX income for XXX XXXXXXXX XXXX XXXXXXXXX in by 0.X percent as XXXXX by US Bureau of XXXXXXXXX (BEA). XXXX is a XXXX indicator of how healthy the economy is. Therefore, accounting XXXXXXXX XXXX also thrive given the XXXXXXX economic XXXXX. Akgün et al., (XXXX) notes XXXX a XXXXXXX economy XXXX lead XX XXXXXXX in businesses.
XXXXXXXXX XX XXXXXXXXX find it difficult to say anything XXXXXXXXXX about XXX XXXXXXXXXXX XXXX of XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX. XXXXXXXXX to XXXXXXXXX, XXXXXXXX activities of a business
entity
should XX XXXX XXXXXXXX XXXX XXXXXXXX activities XX its owners XXX XXXXX business XXXXXXXX. XXXX XXXXX that a business XXX to maintain XXXXXXXX XXXXXXXXXX records and XXXX XXXXXXXX for XXXX XXXXXX XXX not XXXXXXXX with XXX XXXXXX and liabilities of its owners or XXXXXXXX partners. XXXXXXXX XXXXXXXXXXXX XXXX XX associate with an XXXXXX XXXX XX sole proprietorship, XXXXXXXXXXX, XXXXXXXXXXX or state agency. The business XXXXXX XXXX experience XXXXXXX XXXX XXXXXXXX entity XXXXXXXXXX XX sole XXXXXXXXXXXXXX XX the XXXXX mixes business XXXXXXXXXXXX XXXX his transactions. (Eliot et.al 2009)
The XXXXXXXX entity XXXXXXXXX XX a concern when XXXXXXXXXX XXX being started XXX that is XXXX XXX owners XXX XXXXXX to XXXXXX XXXXX XXXXX XXXX those of the business. XXXXX a XXXXXXXX XXXXXX XX grow, a XXXXXXX accountant XXXX be XXXXXXX in XX sort XXXXXXX XXXXXXXX XXXXXXXXXXXX XXX XXXXXX those that should XX XXXX XXXXXXXXXXXXX linked XX the XXXXXX. This XXXXX is XXXXXXXXX as one can know XXXX in a new or growing XXXXXXX is XXXXX a XXX as an accountant XX XXXXX easily. (XXXXX, XXXX)
A XXXXXX in XXXXXXXXX XXXXXXXXXXX XXXXXXX the XXXXXXXX XXXXXXXXXXX in XXX XXXXX XXXXXXX. This change can XXXX to the introduction XX a threat XXXXXX XXXX can XXXX the XXXXXXXXXX XXXXXX XXXXXX. XXXXX XXXXXXX in the XXXXXXXXX XXXXXXXXXXX can XX caused XX government XXXXXXX or changes in policies. XXX changes XXXXXXXX affect the XXXXXXXX XXXXXXXXXXX which in turn leads to a XXXXXX in the XXX businesses perform. XX 2017 XXX XXXXXXXXXX XXXXXXX XXX XXX XXXX. XXXX will lead to XXXX XXX XXXXXXXXXXXXX XX the XXXXXXXXX business try XX XXXXXXXXXX XXX comply with the XXX rules. XXXX will XXXX XX more XXXXXXXX in the accounting sector.
Evolution XX XXXXXXXXXX XXX XXXXXXX the mode XX XXXXXXXXXX in XXXXXXX ways. One XX XXXXXX to software XXXX can XXXXXXX XXXX complex XXXXXXXXX making XXXXXXXXXX XXXXXX and XXXX XXXXXXXXX. XXX XX the presence XX cloud-based systems where XXXXXXXXXX XXXXX streamline XXX their information. XXXXX XX XXXX XXXXXXXXX XXXXXX transactions as XXXXXXXXXXX and XXXXXXX access XXXX remotely by XXXXXXX comments XXX XXXXXXXXXX. Four is XXXXXX XXXXXXXXXX XXXXX XXXXXXXXXXXX via XXXXXX XXXXXXX XXXXXX XXXXXX relationships XXXXXXX clients XXX XXXXXXXXXXX. Technological XXXXXXX XXXXXXX the XXX the XXXXXXXXXX XXXXXXXX XXXX (XXXXX XX .XX XXXX)
Some of the important XXXXXXXXX’ XXXXXXXXXXXX to XXXXXXXX in XXXX field are employment XXXXXX and education XXXXX (XXXXXXXXXXX XX XX., XXXX). XXXXX demographics XXXXXX the economic status of the XXXXXXXXX. XXX demand for XXXX service XXXX XXX remain XXXXXXXXXXX since a XXXXXX in any XX XXX demographics XXXX XXXXXX XXXXXX for XXXXXXXX.
XXX XXXX XXXXX XXXX shakes XXX XXXXXX of XXXX industry XX XXXX most XXXXXX want to have XXXX XXXXXXXXXXXXXX XXXXXXXXXX. The competition in XXXX XXXXXXXX among the XXXXXXX XX XXXX XXXXX. This XXXXXXXXX competition has XXXXXXXX XXXXX pricing XX the XXXXXXXX lowering the XXXXXXXX XXXXXXXXXXXXX. XXXXXXXXXXX from XXX XXX XXXX is XXXX a XXXXX XXXXXXXXX XXXXX XXXX are XXXXXXX well XXXXXXXXXXX with XXXX customer ratings and XXXXXXXX. XXXX include XXX, KPMG, Delloite and Ernest and Young. XXXXX XXXXX XXX global names XXXX XXX is largest in the XX. XXX growth XX mainly grown in XXX consulting sector. This XX XX XXX XXXXXXXXX organizations seek XXXXXX on how XX comply with the tax XXXX in XXXXX. The XXXX XXXXXXXXXXX XX XXX XXXXXXXXXX industry are marketing XXX XXXXXXXX industries. The field of XXXXXXXXX XXXXX XX XXXXXXXXX accounting XXX find XXXXX ways XX XXXXXXXXX data. Most of the XXXXXXXXX XX XXXXXXXXXX XXXXXXXX XXXXXXX in the local and XXXXXXXX government, XXXXXXXXX and commercial businesses, professional XXXXXXXXXXXX, and educational institutions. Whenever customers are served poorly, XXXX XXXX to other XXXXXXXX XXX to avoid that, XX an XXXXXX in XXXXXXXXXX industry one XXXX to XXXX up XX XXXX on best XXXXXXXXX XX XXXX XXXXXXXXXX. Changes XXXXXXXX include XXX XXXX XXXXXX of XXXXXXXXX to XXXXX or a small number of customers XX help. Levels of XXXXXX will increase as more XXXXXXXXXXXXX XXXXXXX accountants and XXXX XXXXXXXXXX XXXXX set XX XX the world XX evolving. More production XXXX XXXX XXXXX and improved technology in accounting industry XX XXXXXXX the customers. (XXXXX, XXXX)
Summary table
Trends
|
Environment
|
X.XXXXXXXX of XX and cloud computing in XXXXXXXXXX
2.Access XX software XXXX can XXXXXXX complex XXXXXXX.
X.XXXXXXXX XX XXXXX-based systems XXXXX XXXXXXXXX XXX XXXXX XXXXX XXXXXXXXXXX.
|
XXXXXXXXXXXXX environment
|
XXXXXXX of new tax law by XX government
|
XXXXXXXXX/legal/XXXXXXXXXX XXXXXXXXXXX
|
Employment status and education level of XXX XXXXXXXXX
|
XXXXXXXXXXXXX environment
|
Big XXXX XXXXXX dominance XXX competition from other accounting firms.
The XXX competing XXXXXXXXXX XXXX accounting are economics and XXXXXXXXX.
|
Competitive environment
|
XXX XXXXXX XX the XXXXXXX's national income
|
Economic XXXXXXXXXXX
|
XXXXXXXXXX
Elliott, B. and Elliott, J. (XXXX)XXXXXXXXX Accounting and Reporting (13thXXX), XXXXXX,
Essex, XXXXXXX XXXXXXXXX XXXXXXX.
XXXXXXXXXXX, X., &XXX; Goebel, X. (XXXX). XXXXXXXXXX XXX XXX XXXXXXXXX XXXXXXXXXXXX XX demographic XXXXXXX.Understanding Financial XXXXXXXX, XXX-XXX.
XXXXX, X. (1992)XXXXXXXXXX XXX XXXXXX, XX, XXXXXXX XXXXXXXX.
Akgün, X. İ., & XXXXXXXXX, X. (2017). The Effect XX XXXXXX Financial XXXXXX on XXXXXXXXXX and Value-XXXXX XXXXXXXX XXXXXXXXXXXX. Business and Economics XXXXXXXX Journal, X(3), 453-XXX.