Accounting is become a more diverse profession in modern society. Right now we are experiencing a strong economy which means there are more buyers in the market and more people willing to take financial risks. You are also seeing accountants start up firms that only deal with specific practices such as retirement or litigation. As technology has advanced, not only are accounting practices working more efficiently, they are developing tools to have virtual and online practiced available for the public. The accounting world is changing before our eyes.
Key Takeaways:
- A stronger economy usually leads to buyers being more willing to take risks as they have more money to spend.
- More accountants are establishing specialty practices rather than the general accounting practice.
- With technology advancing, more and more virtual and online practices are being established with live chats and chat bots.
“Many sellers are finding that they are not ready to just retire and go away; they want to remain involved in the firm, just not full time, and without handling all the day-to-day stress of managing the practice. Instead, they prefer to work on a part-time or seasonal basis, sometimes indefinitely.”
Read more: https://www.cpajournal.com/2020/01/10/top-ten-trends-in-the-cpa-mergers-acquisitions-market/
