Study Shows Queensland Has the Most Proactive Accounting Firms; If a Firm Is Highly Profitable, It Shows Their Business Is Operating Well: Consultant
BRISBANE consulting firm Nixon Advantage has undertaken a benchmarking study of 373 accounting firms across Australia and New Zealand in the search to find the most proactive and high-performing firms.
And the best ones come from Queensland.
C[pounds sterling]Accountants are typically known to their local business communities as the Cytrusted advisor' so we decided to find out how well the Cytrusted advisors' run their own businesses,C[yen] Nixon Advantage CEO Rob Nixon said.
C[pounds sterling]It is my belief that as advisors to business, accountants should be running better businesses than those who they advise.C[yen]
The 373 participating firms were surveyed across a number of Key Performance Indicators, including, revenue per full-time employee, average revenue per client, productivity of fee earners and directors, work-in-progress days, debtor days, administration ratio and more.
Queensland topped the charts as having the most proactive firms from the results of those surveyed and New Zealand firms showed slightly lower performance compared with the Australian market.
The average profit per partner was $305,000, with a Queensland firm topping the list at $1. …