Statistics Canada : Accounting services, 2011

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Operating revenues in the accounting services industry increased 2.2% from a year earlier to $14.2 billion in 2011, less than half the growth rate of 5.2% in 2010.

This industry provides a range of services to its clients. The bulk of its revenues are generated from accounting, bookkeeping and payroll services; these represented 58.3% of sales in 2011. The remainder came from taxation services (25.9%), management consulting services (7.6%), insolvency and receivership services (2.6%) and other sales of goods and services (5.6%).

While the industry operates in every province and territory, 90.1% of its operating revenue was generated in four provinces: Ontario (42.1%), Quebec (19.6%), Alberta (14.7%) and British Columbia (13.7%).

The industry's operating revenue increased 5.4% in British Columbia in 2011, the highest rate of growth among the provinces.

Operating expenses increased 1.4% to $10.0 billion in 2011. Salaries, wages and benefits, the largest expense item, were up 1.5% from 2010.

Since revenues increased more than expenses, the profit margins of firms rose from 28.6% in 2010 to 29.2% in 2011. Firms in Saskatchewan, British Columbia, Quebec, and Manitoba posted higher-than-average profit margins.

The business sector, the primary client of the accounting services industry, accounted for nearly three-quarters (73.1%) of operating revenue in 2011. Individuals and households represented 19.0%, government and public institutions 5.7%, and clients outside Canada the remainder.