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Accounting Industry Benchmarking Study now open

Accounting profession coaching firm Nixon Advantage have launched their annual industry leading Accountants Benchmark Report.  The 2011 study officially opened on Monday 8th August and Registrations are now being taken.

Over 370 firms participated in 2010, making it the largest benchmarking report of its kind. The results from last year’s report were featured in the Australian Financial Review and BRW Magazine, as well as in other major metro and regional newspapers.

The Accountant's Benchmark Report is the largest and most accurate benchmarking tool available in the Accounting industry. Open to both Australian and International practices the tool anonymously measures firms against others in the industry. Firms around the globe are invited to input their data into the online system up until the 8th September cut-off date.  Accountants will be able to view their ranking against other firms who have participated in the study.

Previous year’s reports benchmarked figure ranges for criteria such as average hourly rate from as low as $69 to $334; lockup days from 280 days to 18 days; and revenue per partner from $238,261 to $3,482,883.

For firms taking part in the benchmarking study, the benefit of participating is to gain insight into the state of play in the profession and how well their firm is performing in comparison to others of similar size, location and demographics. This information is invaluable to all partners within the industry as it enables accounting practices to measure their efficiency through the comprehensive final report.

The benchmark reporting system captures data such as firm size, number of fee earning partners, salaries, revenues, profits, write-offs/ons, productivity and capacity. By entering into this benchmarking study you will:

• See how your firm ranks compared with others of similar size, location and demographics;
• Receive a customised report complete with recommendations on how to improve your performance;
• Be invited to undertake a free phone consultation to discuss the findings of your customised report and what steps to take to improve your results; and
• Receive a written copy of the final Benchmark Report on the entire profession on September 30.

If you have any queries please contact info@nixonadvantage.com or call 07 3607 6600 and ask to speak to one of our State Managers. Firms wanting to participate or register to receive the findings can go to the website www.accountantsbenchmarkreport.com

The final report will be released on September 30 with the figures broken down by state and country. The report measures KPI's including WIP, EBIT, Productivity, Revenue, Directors Salaries, Write-offs, Average Hourly rate amongst other factors. 

Firms wanting to participate or register to receive the findings can go to the website www.accountantsbenchmarkreport.com