NEW YORK and ROSELAND, N.J., Sept. 13, 2011 /PRNewswire/ -- Accounting Today released its inaugural Accountants Confidence Index today. The Index, created in partnership with ADP®, is a new monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S.
The ACI is created from a monthly poll of the Accounting Today Executive Research Council, an online community of more than one thousand tax and accounting professionals. Participants are asked to provide their estimates of the growth prospects of their own firms, their small, midsized and large business clients, and of the U.S. economy as a whole. Their responses are weighted and averaged to produce the ACI.
The results of the initial survey, conducted in late August, indicate that accountants expect flat or low growth over the next three months, with an index reading of 52.91 on a scale of one to 100, where one equals a significant decline or contraction, 50 equals flat or no growth, and 100 equals extremely strong growth. The 417 survey participants were slightly more optimistic about the mid-term, with a six-month ACI reading of 54.33.
The accountants were most optimistic about the outlook for their own firms, and least optimistic about the outlook for the economy as a whole, where they actually predicted a contraction. Details of the survey and the methodology employed are available at AccountingToday.com.
"Accountants have their fingers on the pulse of American business and the American economy," said Bill Carlino, Editor-in-Chief of Accounting Today. "We created the ACI to tap into their extraordinary insight, and we expect that the index will rapidly become a much-consulted guidepost to the future direction of the economy."
"We're excited to partner with Accounting Today on the Accountants Confidence Index," said Anish Rajparia, president of ADP's Small Business Services. "ADP works closely with hundreds of thousands of businesses, many of which are accounting and other professional service firms themselves. Our research shows that accountants are singled out by small business owners as their 'most trusted advisors.' As a result, accountants have unique insights into businesses and the economy, which gives the ACI distinct credibility and relevance," Rajparia added.
Industry professionals who would like to join the Executive Research Council and participate in the ACI survey can visit www.research.accountingtoday.com/welcome or the Accounting Today Facebook page to learn more.
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About Accounting Today
Founded in 1987, SourceMedia's Accounting Today has been the newspaper of record for the public accounting profession for almost a quarter of a century, and is the leading source in print and online of information and insight for accountants in public practice, delivering premium content for firm decision-makers on everything from the latest developments in tax and accounting, to cutting-edge technology and best practices in management, growth strategies and more.
Automatic Data Processing, Inc. (NASDAQ: ADP), with about $10 billion in revenues and approximately 570,000 clients, is one of the world's largest providers of business outsourcing solutions. Leveraging over 60 years of experience, ADP offers a wide range of human resource, payroll, tax and benefits administration solutions from a single source. ADP's easy-to-use solutions for employers provide superior value to companies of all types and sizes. ADP is also a leading provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment dealers throughout the world. For more information about ADP or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's Web site at www.ADP.com.
For more information, contact: James Duffy ADP (973) 974-7612 James_Duffy@ADP.com
SOURCE Automatic Data Processing, Inc.