Academic journal article Journal of Accountancy

Controllers Expect Sluggish New Year, Flat Employment Levels

Academic journal article Journal of Accountancy

Controllers Expect Sluggish New Year, Flat Employment Levels

Article excerpt

EMPLOYMENT LEVELS

Almost, three-quarters of the 3000 members of the Institute of Managemeat Accountants controllers council polled in October 1992 found the nation's economy still in recession.

Of these, 57% said there had been no change in business conditions since midyear. Another 23% said an upturn had occurred, but the remaining 20% said the decline had become steeper since the middle of 1992.

While 82% of the controllers polled expect a recovery in 1993, 94% of those anticipating an upturn expect it to be minor. A majority (57%) expect the recovery to begin in the second quarter of 1993.

The uncertain business outlook for early 1993 is reflected in the hiring plans of the controllers' companies. According to a separate poll of 3,200 members of the IMA controllers council, employment levels at a majority of their companies will remain level over the six months ending March 1993.

The outlook for production line employees is the brightest, with 29% of the companies expecting an increase in employment. However, even here, 57% believe employment will be stable, with 14% anticipating lower employment.

In the clerical area, 69% of the companies look for stable employment levels, with 13% expecting an increase and 18% forecasting an employment decline.

Prospects for management employees are dimmest of all. Only 9% of the companies expect to hire additional managers. Although 75% believe management positions will be stable for the first six months of 1993, 16% anticipate additional staff reductions.

The Financial Accounting Standards Board issued a proposal that would establish standards for financial statements issued by not-forprofit organizations. …

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