netrashetty
Netra Shetty
Frontier Airlines, Inc. is an American airline headquartered in Indianapolis, Indiana, United States. The carrier, which is a subsidiary and operating brand of Republic Airways Holdings, operates flights to 83 destinations throughout the United States, Mexico, and Costa Rica[1] and maintains hubs at Denver International Airport, Milwaukee's General Mitchell International Airport, Kansas City International Airport, and Omaha's Eppley Airfield. It provides regional service to the surrounding Rocky Mountain States through a code-share agreement with Great Lakes Airlines. Frontier is not a member of an air carrier alliance.Child Care Services in Australia - Industry Market Research Report - This is the replacement for the February 2011 edition of Child Care Services in Australia. The report provides a detailed analysis of the Child Care Services in Australia industry, including key growth trends, statistical data, sales predictions, the competitive environment including market shares and the key concerns of the industry.
Companies in this industry provide child care. Child care services are principally provided for children under 12 and include long day care centres, family day care, occasional care, after-school hours care, and vacation care. Increasingly, child care is being incorporated with education and vacation care, as parents work longer hours and rely more on care services.
The About this Industry chapter provides general information about the scope of the industry such as an industry definition and a list of the main activities of the industry.
The Industry at a Glance chapter provides a brief snapshot of the key indicators of the industry such as industry revenue and forecast growth rate.
The Industry Performance chapter covers the following: Executive Summary, Key External Drivers, Current Performance, Industry Outlook and Industry Life Cycle. The Executive Summary section is a brief summary of the overall chapter. The Key External Drivers section looks at the key factors outside the control of an individual business that determine the industry's performance. The Current Performance section provides analysis for the industry over the past five years with key performance indicators discussed. The Industry Outlook section is a key analysis section of the report and outlines expectations for the key industry indicators over the next five year period, including forecasts. The Industry Life Cycle section provides a discussion of where the industry is at in its life cycle and how that is affecting industry performance.
The scope of services offered by accounting firms is expanding rapidly. Advances in technology, coupled with changes in clients’ demands, are enabling and encouraging increasing numbers of accounting firms to offer a wide array of services in addition to traditional accounting, auditing, attest, bookkeeping, and tax services. In addition, the requirements to comply with the Sarbanes-Oxley financial reporting requirements has greatly increased the need for publicly-traded corporations to augment their accounting staffs. At the same time, recent financial scandals over back-dating of options at public firms and other problems has further cast scrutiny on proper accounting procedures. All of these have added impetus to the growth in accounting in the past few years. Traditionally, the Big Five accounting firms were Andersen Worldwide, PricewaterhouseCoopers, Ernst & Young, Deloitte & Touche, and KPMG. dominated the global market in 1998 with combined global revenue exceeding $58 billion, well over half the industry’s total revenue. In terms of revenue growth, the late 1990's were strong for the Big Five, attributable primarily to the boom in consulting services. Andersen Worldwide led the pack with net revenues of $13.9 billion, a 23 percent increase over 1997. On average, fees from management consulting services accounted for nearly half of all the revenue earned by the top eight accounting firms in fiscal year (FY) 1998, surpassing the revenue generated by accounting, auditing, attest, and tax services combined. The July 1998 merger of Price Waterhouse and Coopers & Lybrand to form Pricewaterhouse- Coopers created the largest accounting network in the world, whose FY 1998 net global revenue exceeded $15.3 billion.
Today, the Big Five have been reduced to the Big Four with the collapse of Andersen resulting from the Enron scandal. They include Price WaterhouseCoopers, Deloitee Touche Tohmatsu, Ernst & Young and KPMG. Two other players have significant revenues. BDO International and Grant Thornton International, each have almost $3 billion in annual billings and have 30,000 and 25,000 employees respectively.
Market Structure
As seen by the push to greater reporting to comply with Sarbanes-Oxley and other requirements, the number of accounting establishments has continued to grow after 2000. The impact of consolidations in the industry has probably muted even more growth that would have occurred in number of establishments.
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This industry employs a significant number of people for the American economy. The number of accountants in the industry mirrors the growth in number of establishments. Both of these are up over 15% in five years and it is likely the number of those employed in the industry will expand further through the end of the decade.
The industry, despite the presence of the Big Four, is still only moderately concentrated. The four largest players account for over 20% of industry revenues while the top 50 still only control less than 50% of industry revenues. Many small and mid sized businesses turn to small local accounting firms in their local geographic area.
Concentration of Revenue by number of firms in the industry is as follows:
Total Number of firms Revenue as % of all firms in the industry
4 largest 21.6%
8 largest 28.0%
20 largest 42.1%
50 largest 47.0%
Market Metrics==
As described above, demand for accounting services has been consistent and growing for the past several years. The revenue line for the industry will likely trend upwards further out in the decade.
Recent Trends and Developments
Accounting firms and certified public accountants (CPAs) nationwide have begun offering a wide array of services in addition to traditional accounting, auditing, and bookkeeping services. This trend is partially a response to clients’ demand for “one-stop shopping” for all their professional services needs. Another cause is the relatively flat growth in demand for traditional accounting and auditing services over the past 10 years and the desire of CPAs to develop more value-added services. The addition of management consulting, legal, and other professional services to the practice mix of large national accounting networks is transforming the industry and has engendered the new category of MDPs (multi-discplinary practices).
Many firms now offer technology consulting because of growing client demand for Internet and electronic commerce services. A recent survey of CPA clients indicates that keeping up with technology is the strategic issue of greatest concern to clients, followed by recruiting and retaining staff, competing with larger companies, planning for executive succession, and maximizing productivity.
CPA firms will continue to develop their capabilities and/or alliances to meet clients’ demands. Some other areas of expansion among accounting firms are administrative services, financial and investment planning services, general management services, government administration, human resources, international operations, information technology and computer systems consulting, litigation support, manufacturing administration, marketing, and research and development.
A trend toward consolidation is under way in the accounting industry. Many small and medium-size independent firms are merging or forming alliances with large service companies such as American Express Company, H&R Block Incorporated, and Century Business Services. Consolidation is causing a decline in the number of independent accounting firms that offer only tax and accounting services. The large increase in revenue among the top 100 accounting firms in the late 1990s may be partially attributable to this trend toward consolidation.
Companies in this industry provide child care. Child care services are principally provided for children under 12 and include long day care centres, family day care, occasional care, after-school hours care, and vacation care. Increasingly, child care is being incorporated with education and vacation care, as parents work longer hours and rely more on care services.
The About this Industry chapter provides general information about the scope of the industry such as an industry definition and a list of the main activities of the industry.
The Industry at a Glance chapter provides a brief snapshot of the key indicators of the industry such as industry revenue and forecast growth rate.
The Industry Performance chapter covers the following: Executive Summary, Key External Drivers, Current Performance, Industry Outlook and Industry Life Cycle. The Executive Summary section is a brief summary of the overall chapter. The Key External Drivers section looks at the key factors outside the control of an individual business that determine the industry's performance. The Current Performance section provides analysis for the industry over the past five years with key performance indicators discussed. The Industry Outlook section is a key analysis section of the report and outlines expectations for the key industry indicators over the next five year period, including forecasts. The Industry Life Cycle section provides a discussion of where the industry is at in its life cycle and how that is affecting industry performance.
The scope of services offered by accounting firms is expanding rapidly. Advances in technology, coupled with changes in clients’ demands, are enabling and encouraging increasing numbers of accounting firms to offer a wide array of services in addition to traditional accounting, auditing, attest, bookkeeping, and tax services. In addition, the requirements to comply with the Sarbanes-Oxley financial reporting requirements has greatly increased the need for publicly-traded corporations to augment their accounting staffs. At the same time, recent financial scandals over back-dating of options at public firms and other problems has further cast scrutiny on proper accounting procedures. All of these have added impetus to the growth in accounting in the past few years. Traditionally, the Big Five accounting firms were Andersen Worldwide, PricewaterhouseCoopers, Ernst & Young, Deloitte & Touche, and KPMG. dominated the global market in 1998 with combined global revenue exceeding $58 billion, well over half the industry’s total revenue. In terms of revenue growth, the late 1990's were strong for the Big Five, attributable primarily to the boom in consulting services. Andersen Worldwide led the pack with net revenues of $13.9 billion, a 23 percent increase over 1997. On average, fees from management consulting services accounted for nearly half of all the revenue earned by the top eight accounting firms in fiscal year (FY) 1998, surpassing the revenue generated by accounting, auditing, attest, and tax services combined. The July 1998 merger of Price Waterhouse and Coopers & Lybrand to form Pricewaterhouse- Coopers created the largest accounting network in the world, whose FY 1998 net global revenue exceeded $15.3 billion.
Today, the Big Five have been reduced to the Big Four with the collapse of Andersen resulting from the Enron scandal. They include Price WaterhouseCoopers, Deloitee Touche Tohmatsu, Ernst & Young and KPMG. Two other players have significant revenues. BDO International and Grant Thornton International, each have almost $3 billion in annual billings and have 30,000 and 25,000 employees respectively.
Market Structure
As seen by the push to greater reporting to comply with Sarbanes-Oxley and other requirements, the number of accounting establishments has continued to grow after 2000. The impact of consolidations in the industry has probably muted even more growth that would have occurred in number of establishments.
____________________________________________________________________________
This industry employs a significant number of people for the American economy. The number of accountants in the industry mirrors the growth in number of establishments. Both of these are up over 15% in five years and it is likely the number of those employed in the industry will expand further through the end of the decade.
The industry, despite the presence of the Big Four, is still only moderately concentrated. The four largest players account for over 20% of industry revenues while the top 50 still only control less than 50% of industry revenues. Many small and mid sized businesses turn to small local accounting firms in their local geographic area.
Concentration of Revenue by number of firms in the industry is as follows:
Total Number of firms Revenue as % of all firms in the industry
4 largest 21.6%
8 largest 28.0%
20 largest 42.1%
50 largest 47.0%
Market Metrics==
As described above, demand for accounting services has been consistent and growing for the past several years. The revenue line for the industry will likely trend upwards further out in the decade.
Recent Trends and Developments
Accounting firms and certified public accountants (CPAs) nationwide have begun offering a wide array of services in addition to traditional accounting, auditing, and bookkeeping services. This trend is partially a response to clients’ demand for “one-stop shopping” for all their professional services needs. Another cause is the relatively flat growth in demand for traditional accounting and auditing services over the past 10 years and the desire of CPAs to develop more value-added services. The addition of management consulting, legal, and other professional services to the practice mix of large national accounting networks is transforming the industry and has engendered the new category of MDPs (multi-discplinary practices).
Many firms now offer technology consulting because of growing client demand for Internet and electronic commerce services. A recent survey of CPA clients indicates that keeping up with technology is the strategic issue of greatest concern to clients, followed by recruiting and retaining staff, competing with larger companies, planning for executive succession, and maximizing productivity.
CPA firms will continue to develop their capabilities and/or alliances to meet clients’ demands. Some other areas of expansion among accounting firms are administrative services, financial and investment planning services, general management services, government administration, human resources, international operations, information technology and computer systems consulting, litigation support, manufacturing administration, marketing, and research and development.
A trend toward consolidation is under way in the accounting industry. Many small and medium-size independent firms are merging or forming alliances with large service companies such as American Express Company, H&R Block Incorporated, and Century Business Services. Consolidation is causing a decline in the number of independent accounting firms that offer only tax and accounting services. The large increase in revenue among the top 100 accounting firms in the late 1990s may be partially attributable to this trend toward consolidation.
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