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In the most recent quarterly survey from the American Institute of Certified Public Accountants, conducted in late May, respondents indicated they were more optimistic about their organizations than they were earlier in the year.
Revenue, profit, hiring and spending indicators improved across the board in the second quarter compared with the first quarter. Optimism improved across most major industry sectors, with retail and wholesale trade rebounding after a sharp decline late in 2015. The survey polled more than 700 chief financial officers and controllers.
But with accountants, there's always a worry. Labor costs continue to be the most pressing concern, followed by raw materials costs and interest rates. Health care costs continue to rise faster than other costs, they indicated.
Regulatory requirements topped the list of challenges in the second quarter, overtaking domestic economic conditions.
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