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Wednesday, July 17, 2002 Accounting and bookkeeping services2000Results for 2000 are now available for the industry group comprising offices of professional accountants, tax preparation services, and bookkeeping and payroll services. The industry's operating revenues climbed 12.3% to $8.1 billion in 2000, led by growth in audit, accounting and tax services, which now generate 82.6% of industry operating revenues, up 7 percentage points from 1999. Revenues from consulting services fell in 2000 because of reduced corporate spending on such services after Y2K. Moreover, with corporate earnings declining in 2000, businesses also had fewer resources available for spending on consulting services. As a result, the share of the accounting and bookkeeping industry's operating revenues earned from consulting services slipped by 5 percentage points to 11.7% in 2000. Some 47.2% of industry operating revenues were earned in Ontario, down 2 percentage points from 49.1% in 1999. Quebec and Alberta each increased their share by about 1 percentage point each, to 19.2% and 12.7%, respectively. Operating profit margin for the industry climbed to 31.2% in 2000, up 3 percentage points. The relatively high operating margin is mainly the result of the significance of unincorporated businesses, which represented more than 60% of the industry's businesses and operating revenues in 2000. Under this business structure, salaries and wages to the more than 15,000 partners and owners in the industry are not recorded as industry expenditures, causing profit margins to be higher than for industries where unincorporated businesses are less common. Available on CANSIM: table 360-0007. For more information, or to inquire about the concepts, methods or data quality of this release, contact Randy Smadella (613-951-3472; randy.smadella@statcan.gc.ca), Services Industries Division. |
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