CPA Observation Post

New Jersey jobs grow in April, so does unemployment (via @njdotcom)

The job market in New Jersey inched forward in April, and dire numbers from March were revised upwards as the state continues its long, slow employment comeback. Read More>>

Accountants Feeling Better about Global Economy (via @AccountingToday)

Confidence in the global economy recovered significantly in the early part of this year among accountants, regaining some of the optimism that had been lost last year, according to a new survey. Read More>>

Businesses gain optimism about U.S. economy, survey finds

Businesses are becoming more optimistic about the economy and are getting ready to add workers, according to a survey by the National Association for Business Economics. About 40% of companies, the biggest number since July, said they anticipate that employment will pick up during the next six months. Read More>>

Optimism among finance execs for U.S. economy is rising, survey shows (via @AICPA)

Optimism for the U.S. economy among CPA financial executives rose in the first quarter of 2012 over the previous quarter, according to results of the latest AICPA Business and Industry Economic Outlook Survey. Despite the improved outlook, though, just 14% of CPA decision-makers said they expect to hire in the short term. But expectations for growth in revenue, profits and number of employees all rose from the previous quarter. Read More>>

Unemployment is top economic worry in U.S., survey finds

The job market is the most pressing economic concern for about a quarter of the people in the U.S., a Gallup survey found. After employment-related fears, which were the top concern for 26%, were federal deficits and general economic decline and instability. Read More>>

Poll: Americans lack understanding of U.S. financial problems

Many Americans lack a full understanding of the nation's financial problems, according to the National Fiscal IQ poll by the Comeback America Initiative. For example, 68% of respondents believe that most people pay more in payroll taxes and Medicare premiums than they end up receiving, which is not true. Also, 49% think U.S. tax rates are higher than those in other industrialized nations, which is also not true. Read More>>

Business costs will rise in 2012, executives say (via @WSJ)

Business executives expect their operating costs to rise in 2012, according to a survey by the Federal Reserve banks of New York and Philadelphia. The biggest increases are expected to be in employee benefits, such as health care. Fewer companies said they would be able to pass higher costs to their customers, the survey found. Read More>>

Small-business hiring is up, November survey shows (via @NYTimes)

Small businesses plan to hire more, according to a November survey by the National Federation of Independent Business. The net share of companies in the survey planning to hire was the largest in 38 months. Also, for the first time in almost four years, the net percentage of companies that said they began hiring in the past three months was positive. Read More>>

Survey of CPAs Shows Economic Pessimism Still Prevalent, But Shrinking (via @AICPA_JofA)

Forty percent of CPA executives responding to the AICPA Economic Outlook Survey for the fourth quarter say they are somewhat or very pessimistic about the U.S. economy. That’s down from 59 percent in the third quarter. Predictions of a double-dip recession decreased to 45 percent in the fourth quarter compared with 61 percent in the third quarter. Meanwhile, plans for spending might be the most positive indicator in the survey. Forecasts for spending increases on IT, other capital expenses, and training reached their highest level since the third quarter of 2007. Read More>>

Business Resurging for Accounting Firms

The worst is over for accounting firms, said Allan D. Koltin, chief executive of Koltin Consulting Group, in his keynote address at the Thomson Reuters Users’ Conference for Professional Tax & Accounting Firms. Read More>>