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16th Annual Survey of Regional Firms determined the dominant players by Accounting Today
Woburn, MA April 10, 2009 - DiCicco, Gulman & Company LLP (DGC), a CPA and business consulting firm specializing in the accounting and financial matters of private companies, is proud to announce it has been ranked number ten out of the top fifteen New England regional CPA firms, by Accounting Today magazine.
Hundreds of companies from across the country took part in the survey which is in its 16th year. The survey ranked the top fifteen firms in each region of the country, as well as indicates trends US firms are seeing. Results were gathered based on 2008 fiscal year revenue and showed that the economic downturn did not have as much of an effect on the participating firms in 2008 as anticipated. In fact, according to the survey results, firms are viewing the downturn as both a "threat and an opportunity," allowing them to work more closely with their clients.
"We are pleased to be recognized as one of the top CPA firms in New England," said Lenny DiCicco, Managing Partner at DGC. "It is an honor and proves that we are an integral part of our clients consulting team, providing them with added support in our area of expertise. At DGC we strive to provide our clients with a team of audit experts knowledgeable of the accounting standards, emerging issues and internal controls necessary in today's financial reporting environment. Providing our clients with a wide range of services whether it is for high net-worth individuals, real estate, architectural and engineering firms and much more."
Some of the specific trends in the report include:
- Partners and staff: 59 percent reported increasing their numbers of partners/principals over 2007 and 67 percent reported increasing their professional staff. Twenty-one firms decreased their partner/principals rolls and 30 cut their professional staffs over 2007 reported numbers.
- Offices: Though most firms maintained their same number of offices in 2008 as in 2007, 19 reported increasing the number and 12 decreasing.
- Fee splits: Two-thirds of the firms garnered most of their revenue from accounting and auditing. Twenty firms reported tax as their major source of revenue and 16 firms' listed "miscellaneous services," including all types of consulting.
For a list of the Top 15 Firms in New England, visit http://www.webcpa.com/assets/pdfs/practicalaccountant/01-NewEnglnd.pdf.
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