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1 2013 TRENDS in the supply of Accounting Graduates and the Demand for Public Accounting Recruits 2013 TRENDS a

2 By Scott Moore Director, Student and Professional Pathways Academic & Career Awareness TARP Worldwide Copyright 2013 American Institute of CPAs. All rights reserved. Requests for permission to make copies of any part of this work should be mailed to Permissions Department, AICPA, 220 Leigh Farm Road, Durham, NC b 2013 TRENDS ACD 920

3 CONTENTS 2 Introduction 28 Firm Demographics 3 Summary 34 CPA Examination 5 Trends in Supply Accounting Enrollment Accounting Enrollment Predictions Accounting Graduates 35 Appendix Breakdown of Geographic Regions Supply Survey Methodology & Response Rates Demand Survey Methodology & Response Rates 18 Trends in Demand Public Accounting Firm Hiring

4 INTRODUCTION The 2013 edition of Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits is a continuation of a long-standing AICPA survey. The last survey was published in 2011 (for the academic year). The current version identifies key trends in accounting enrollment, as well as graduation and hiring through the academic year. This report is prepared to provide guidance and information to various stakeholders and interested parties. The results of the survey show very positive signs on both the supply and the demand side of the equation. Enrollments and degrees awarded are at all-time highs, displaying a strong interest in the accounting profession as a career choice. Nearly 15% of universities continue to receive more applications from qualified applicants than they can admit as they are constrained by limited spaces in the classroom. Even so, more than 60% of the universities predict increased enrollment in both MBA in accounting and MA in taxation. Hiring by public accounting firms also is at an all-time high, especially at the Master s degree level, signaling the importance of the 150-hour rule for CPA licensure. Furthermore, 89% of public accounting firms also forecast that they will hire the same or more graduates in the following year, a very positive trend into the future TRENDS The AICPA is keenly aware of the challenges we face in increasing the diversity of the accounting profession, specifically as it relates to ethnicity and race. Forty years of focus has been placed on this issue, and the results, while beneficial, have not been the results that keep up with the pace of changing demographics. The launch of the AICPA s National Commission on Diversity and Inclusion commits to a renewed focus on minority representation in the accounting profession. The efforts of the National Commission will focus on retention and advancement to address the declining trajectory of minorities in the accounting profession. We are very appreciative of all who took the time to participate, and welcome your questions and feedback as we strive to make the information in these surveys relevant to your needs TRENDS Introduction

5 Summary Accounting Enrollment by Program BA 133, , , , , , ,570 MA Acc 12,565 17,540 18,795 21,253 22,291 29,464 29,648 MBA Acc 4,065 5,270 4,030 4,482 3,664 5,100 5,132 MA Tax 3,555 3,550 3,595 3,239 4,580 2,822 2,840 Ph.D , ,095 1,224 1,188 1,189 Total 154, , , , , , ,380 Accounting Degrees Awarded ,000 61,334 50,000 40,000 30,000 20,000 20,843 10, Bachelor s Bachelor s Master s Master s Accounting enrollments and degrees awarded continue to grow, especially in Bachelor s degree programs. Summary 2013 TRENDS 3

6 New Accounting Graduates Hired by CPA Firms ,000 40,350 35,000 30,000 25,000 23,793 20,000 15,000 16,557 10,000 5,000 Bachelor s Master s Total Demand Hiring Demand has surpassed the previous all-time high set in ACCOUNTING CAREER TRAJECTORY 2012 Bachelor s Master s Total Demand 100% 90% 80% 70% 60% 50% 40% 30% 20% 15% 10% 5% 0% Enrollments Graduates Hires All Staff Partner (BA) White Asian/Pacific Islander Black/African-American Hispanic/Latino American Indian/Alaskan Native Other Asian/Pacific Islander Other/Unknown This represents a snapshot of accounting Black/African-American professionals by ethnicity. Minorities trail the white population significantly as they Hispanic/Latino progress further into their accounting careers as demonstrated by the decline in partnership American Indian/Alaskan positions. Native This demonstrates the need for continued efforts to retain and advance minorities in the profession TRENDS Summary

7 2013 TRENDS in SUPPLY 2013 TRENDS 5

8 Enrollment by Gender % 90% 80% 70% 60% 50% 54.4% 45.6% 49.6% 50.4% 62.8% 40% 37.2% 30% 20% 10% BA MA Ph.D. Male Female Enrollment by Ethnicity Male Female 100% 90% 80% 70% 60% 67.0% 61.9% 65.6% 50% 40% 30% 33.0% 38.1% 34.4% 20% 10% 9.3% 7.2% 8.4% 6.8% 0.4% 14.8% 12.1% 4.8% 5.1% 0.3% 21.9% 6.3% 2.3% 0.8% 1.6% BA MA Ph.D. Asian/Pacific Islander Black/African-American Hispanic/Latino American Indian/Alaskan Native Other/Unknown Asian/Pacific Islander White Black/African-American Total Ethnic Hispanic/Latino American Indian/Alaskan Native White Other/Unknown Total Ethnic TRENDS Trends in Supply

9 Bachelor s Enrollments by Limited Space Survey Question: Are your enrollments limited by available spaces? If your enrollment is limited, roughly how many qualified candidates do you turn away? 20% BY ACCREDITATION 175 Schools With Limitations 17% 14% 11% 8% 5% Candidates rejected 2% 25 AACSB Accounting AACSB Business ACBSP Other Percentage Percentage Limited Limited Number Number of Rejections of Rejections 14% BY SECTOR 175 Schools With Limitations 12% 10% 8% 6% 4% Candidates rejected 2% 25 Percentage Percentage Limited Limited Private ACBSP Public Number Number of Rejections of Rejections 28% BY REGION 105 Schools With Limitations 24% 20% 16% 12% 8% Candidates rejected 4% 15 Percentage Percentage Limited Limited Eastern N. Central Southern ACBSP Pacific Number Number of Rejections of Rejections Trends in Supply 2013 TRENDS 7

10 Bachelor s Enrollment by Ethnicity and Gender % TOTAL MINORITY BY SECTOR AND REGION 100% 80% 47% 60% 34% 30% 33% 32% 31% 40% 20% Public Private Eastern N. Central Pacific Southern Sectors Regions Sectors Regions % TOTAL FEMALE BY SECTOR AND REGION 100% 80% 47% 43% 43% 43% 51% 48% 60% 40% 20% Public Private Eastern N. Central Pacific Southern Sectors Regions Sectors Regions TRENDS Trends in Supply

11 Master s Enrollment by Ethnicity and Gender % TOTAL MINORITY BY SECTOR AND REGION 100% 80% 48% 59% 60% 31% 38% 31% 40% 20% 20% Sectors Public Private Eastern N. Central Pacific Southern Regions Sectors Regions % TOTAL FEMALE BY SECTOR AND REGION 100% 80% 47% 54% 51% 52% 47% 34% 60% 40% 20% Sectors Public Private Eastern N. Central Pacific Southern Regions Sectors Regions Trends in Supply 2013 TRENDS 9

12 Future Enrollment Predictions Survey Question: For each of the following accounting programs listed, please indicate whether you expect enrollment at your institution two years from now to be higher, lower or the same as current enrollment. 100% 90% 80% 70% 71.8% 60% 50% 40% 53.1% 43.9% 54% 60.4% 58.4% 30% 20% 10% 2.3% 0.7% BA 22% 20% 20.8% 14.6% 4% 4.2% MA Accounting MBA Accounting 0% 15.2% 13% MA Taxation 23.4% 5.3% Ph.D. 12.9% Higher Same Lower Unknown Higher These data show that schools do not anticipate an increase of enrollments Same at the BA level but show strong growth for both MBA in Accounting and Lower Masters of Taxation. This corresponds with the increased demand and Unknown hiring for Master s graduates TRENDS Trends in Supply

13 Percentage of Schools Offering IFRS Material Survey Question: Does your school offer courses that include IFRS material? IFRS Materials 3% 97% Yes No All schools surveyed Yes stated that they will have some IFRS included in their curriculum by No Trends in Supply 2013 TRENDS 11

14 Accounting Degrees Awarded by All Schools YEAR GRADUATES BACHELOR S MASTER S TOTAL DEMAND RATE OF GROWTH GRADUATES RATE OF GROWTH GRADUATES RATE OF GROWTH , , , , % 2, % 29, % , % 3, % 34, % , % 4, % 39, % , % 4,700 +9% 44, % , % 5, % 50, % ,000 +3% 5,670 +1% 51,670 +3% ,800 +6% 5,640-1% 54,440 +5% ,870 +2% 5,280-6% 55,150 +1% ,320-1% 5,520 +5% 54,840-1% ,300 +2% 5,570 +1% 55,870 +2% ,950 +3% 5,810 +4% 57,760 +3% ,020 +2% 6,330 +9% 59,350 +3% ,980-2% 5,910-7% 57,890-2% ,000-4% 5,750-3% 55,750-4% ,030-4% 5,580-3% 53,610-4% ,340-4% 4,910-12% 51,250-4% , % 5,230 +7% 57, % , ,040-4% 57,360-1% ,600 +1% 5, % 59,140 +3% , , % 60,390 +2% ,060-6% 5,330-25% 55,390-8% ,450 +7% 7, % 60,620 +9% , , % 61,220 +1% ,030-2% 7,630-3% 59,660-3% ,170-21% 6,725-12% 47,895-20% ,115-10% 7, % 45,095-6% ,855 +2% 8,700 +9% 46,555 +3% ,995-8% 9, % 44,695-4% ,010 +6% 12, % 49, % ,420 +9% 13,340 +5% 53,760 +8% , % 16, % 64, % , % 17, % 66, % , % 17, % 68, % , % 20, % 82, % TRENDS Trends in Supply

15 Accounting Graduate Demographics (BA & MA Combined) Accreditation Region 36% 17% 55% AACSB Accounting AACSB Business 50% ACBSP Other 26% 5% 4% 7% Accreditation Region Gender 36% 17% 50% 55% 48% 52% 26% 8% Eastern 50% North Central 6% Pacific 6% Southern 1% Region Ethnicity 17% 70% 26% 5% 4% 7% Region 9% 7% Gender 17% Ethnicity 1% 8% 50% 70% 6% 26% 48% 52% 6% Male Female 6% 6% 8% 1% Ethnicity 70% 9% 7% 9% Ethnicity 8% 6% 1% 70% Asian/Pacific Islander Multi-Ethnic 6% Black/African-American Hispanic/Latino White 9% Other Trends in Supply 2013 TRENDS 13

16 Bachelor s and Master s Graduates by Gender % 75% 70% 65% 60% 55% 50% 45% 52% 48% 40% Female Male (%) Male Female (%) (%) Bachelor s and Master s Graduates by Ethnicity % 10% 8% 6% 9% 8% 6% 4% 2% % Asian/Pacific Islander Asian/Pacific Islander Hispanic/Latino Other/Unknown Other Black/African-American Black/African-American American Indian/Alaskan Native Hispanic/Latino American Indian/Alaskan Native Unfortunately, as a percentage of total graduates, there was a decrease across all ethnicity categories. There was an increase in total graduates across all categories; however, those categories are not keeping pace with the increase in enrollments among white students TRENDS Trends in Supply

17 New Accounting Graduates from AACSB Accounting and AACSB & ACBSP Accredited Business Administration Programs AACSB Accounting Programs & AACSB & ACBSP Business Admin. Programs Bachelor s Master s TOTAL ,070 7,260 35, ,175 7,235 35, ,880 9,170 37, ,590 11,905 42, ,120 12,635 45, ,555 14,912 53, ,734 16,115 55, ,761 16,211 57, ,021 19,243 70,264 Accounting programs from AACSB and ACBSP accredited institutions have shown a large increase in the number of graduates. New Accounting Graduates from Other Business Administration Programs Number of Other Business administration programs Bachelor s Master s TOTAL , , ,680 1,465 11, , , , , , , ,107 1,647 10, ,234 1,376 10, ,275 1,392 10, ,313 1,600 11,913 Trends in Supply 2013 TRENDS 15

18 Master s Degrees by Program Type % 80% 81% 60% 40% 20% 0% % 7% MA Accounting MBA Accounting MA Taxation Master s degrees in Accounting (MAcc) continue to be the dominant MA program Accounting of MBA Accounting choice at the Master s level. The continuing decline in Master s degrees in Taxation remains a concern. MA Taxation Bachelor s and Master s Degrees by Geographic Region % 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% % 26% 17% 7% Southern North Central Eastern Pacific Southern North Central Eastern Pacific TRENDS Trends in Supply

19 Accounting Graduates by Sector ,000 40,000 41,315 35,000 30,000 25,000 20,000 20,020 15,000 14,403 10,000 5, ,440 BA Public BA Private MA Public MA Private BA Public BA Private MA Public MA Private Trends in Supply 2013 TRENDS 17

20 2013 TRENDS in DEMAND TRENDS

21 New Accounting Graduates Hired by CPA Firms YEAR BACHELOR S MASTER S TOTAL DEMAND ,800 2,000 8, ,900 2,400 11, ,000 2,600 12, ,500 2,600 12, ,200 2,800 12, ,010 3,350 13, ,660 3,310 14, ,770 2,890 15, ,500 2,900 16, ,100 2,460 16, ,200 2,210 16, ,970 2,210 14, ,490 2,180 16, ,640 2,180 17, ,510 2,250 18, ,110 2,030 18, ,720 2,050 18, ,740 2,220 18, ,240 2,600 27, ,340 2,500 23, ,840 1,760 20, ,870 2,650 22, ,320 2,670 21, ,500 2,970 21, ,560 3,375 21, ,820 2,650 20, ,960 3,250 20, ,265 3,686 20, ,335 3,035 16, ,630 3,295 15, ,270 3,555 16, ,985 4,720 19, ,025 8,087 36, ,110 6,378 25, ,870 13,451 33, ,793 16,557 40,350 Trends in Demand 2013 TRENDS 19

22 New Accounting Graduates Hired by CPA Firms as a Percentage of Total Hires by Degree % 70% 60% 50% 40% 30% 40% 37% 20% 24% 10% 0% Bachelor s Bachelor s Master s Master s Total Non-Accounting Total Non-Accounting TRENDS Trends in Demand

23 New Accounting Bachelor s and Master s Graduates Hired by CPA Firms by Gender % 70% 60% 50% 40% 53% 47% 30% 20% 10% 0% Male (%) Female (%) Female (%) Male (%) New Accounting Bachelor s and Master s Graduates Hired by CPA Firms by Ethnicity Asian/Pacific Islander Black/ African-American Hispanic/ Latino American Indian/Alaskan Native Multi-ethnic* Total Ethnic/ Racial White Other/ Unknown % 3% 7% 0% -- 20% 79% 1% % 3% 6% 0% -- 17% 82% 1% % 3% 6% 0% -- 17% 82% 1% % 5% 4% 0% -- 18% 81% 1% % 3% 8% 0% -- 23% 76% 1% % 8% 4% 1% -- 26% 72% 2% % 4% 4% 2% -- 22% 78% 0% % 4% 7% 0% 2% 25% 73% 2% % 4% 6% 0% 0% 29% 70% 1% * Multi-ethnic data were not captured prior to 2010 survey. Trends in Demand 2013 TRENDS 21

24 New Accounting Master s Graduates Hired by CPA Firms by Type of Degree % 90% 80% 86% 70% 60% 50% 40% 30% 20% 10% 0% % 5% MA MA Accounting Accounting MBA MBA Accounting Accounting MA MA Taxation Taxation Masters in Accounting represent almost 90% of new CPA firm Master s hires, which is significantly higher than Masters in Taxation and MBAs in Accounting TRENDS Trends in Demand

25 New Accounting Graduates Hired by CPA Firms by Area of Assignment % 0% 0% 0% 0% % % 80% 60% 40% 20% % % 72% % % % % % % 2% 72% 2% 72% 13% 77% 5% 60% 8% 57% 8% 51% 51% 22% 21% 1% 17% 2% 23% 2% 35% 13% 25% 5% 23% 8% 8% 5% 5% 22% 4% 21% 4 % 17% 3% 23% 16% 35% 18% 25% 23% 5% 5% 4% 4 % 3% 16% 18% All CPA Firms 51% All CPA Firms 51% Accounting/Auditing MIS/Computers Taxation 18% 18% 23% 8% 8% Other 23% * Accounting/Auditing remains the most common area of assignment for new graduates at CPA firms. While this segment has been growing, it has not maintained pace with other areas of assignment such as advisory services. Trends in Demand 2013 TRENDS 23

26 Demand Forecast New Accounting Graduates to be Hired in 2012 NUMBER OF MEMBERS All Firms CPAs 11% 26% 15% <10 CPAs 11% 63% 74% CPAs CPAs 50% 50% 100% >200 CPAs 25% Higher 75% The Same Lower Higher The Same Lower TRENDS Trends in Demand

27 Demand Forecast New Non-Accounting Graduates to be Hired in 2012 NUMBER OF MEMBERS All Firms CPAs <10 CPAs 12% 4% 12% 76% 16% 80% CPAs CPAs 100% 100% >200 CPAs 25% 75% Higher The Same Higher Lower The Same Lower Trends in Demand 2013 TRENDS 25

28 Demand Forecast Experienced Recruits to be Hired in 2012 Survey Question: Is the number of experienced recruits hired by your firm likely to be higher, lower or the same as the previous year? NUMBER OF MEMBERS All Firms CPAs <10 CPAs 24% 19% 14% 62% 12% 69% CPAs CPAs 100% 100% >200 CPAs 25% 25% Higher Higher The The Same Same Lower 50% TRENDS Trends in Demand

29 Demand Forecast Expected Number of CPAs on Staff in 2012 NUMBER OF MEMBERS All Firms CPAs <10 CPAs 38% 27% 3% 59% 4% 69% CPAs CPAs 50% 50% 100% >200 CPAs 25% 75% Higher The Same Higher Lower The Same Lower Trends in Demand 2013 TRENDS 27

30 2013 FIRM DEMOGRAPHICS TRENDS

31 Demographics All Accounting Employees at CPA Firms 2012 Gender Ethnicity 56% 44% 15% 75% Male Female 4% 5% 1% Area Ethnicity of Assignment Gender 56% 15% 51% 44% 6% 75% 4% 8% 5% 1% 75% White Ethnicity Asian/Pacific Islander Black/African-American 15% Hispanic/Latino Asian/Pacific Islander Multi-ethnic Black/African-American Hispanic/Latino Multi-ethnic White 4% 5% 1% 23% 12% 6% 8% Auditing White Area Assurance of Assignment Services Asian/Pacific Islander Taxation Black/African-American Management Services Hispanic/Latino 51% Other Areas Multi-ethnic White Asian/Pacific Islander Black/African-American Hispanic/Latino Auditing Multi-ethnic Assurance Services Taxation Management Services Other Areas 23% 12% Auditing Assurance Services Taxation Management Services Other Areas Firm Demographics 2013 TRENDS 29

32 GENDER GENDER GENDER Professional Staff Demographics by Firm Size 2012 All Firms GENDER GENDER <10 All Firms All Firms Gender <10 <10 All Firms All Firms <10 <10 56% 44% 47% 53% 56% 56% 44% 44% 47% 47% 53% 53% 56% 56% 44% 44% 47% 47% 53% 53% % % 21% % 79% 79% 79% 79% 21% 21% 60% 60% 60% 60% 60% 40% 40% 40% 40% 40% >200 >200 >200 >200 >200 56% 56% 56% 56% 56% 44% 44% 44% 44% 44% Male FemaleMale Female Female Male Male Female Female Male Female Ethnicity All Firms < >200 White 75% 80% 100% 79% 74% Asian/Pacific Islander 15% 3% 0% 11% 15% Black/African-American 4% 7% 0% 3% 4% Hispanic/Latino 5% 8% 0% 0% 5% American Indian/Alaska Native 0% 0% 0% 0% 0% Multi-ethnic 1% 2% 0% 0% 1% Other 0% 0% 0% 7% 0% TRENDS Firm Demographics

33 Partner Demographics by Firm Size 2012 All Firms GENDER GENDER <10 All Firms All Firms Gender <10 <10 19% All Firms All Firms 19% 19% <10 <10 19% 19% GENDER GENDER GENDER 32% 32% 32% 32% 32% 81% 81% 81% 81% 81% 68% 68% 68% 68% 68% % % 33% % 33% 17% 17% 17% 17% 17% 67% 67% 67% 67% 67% 83% 83% 83% 83% 83% >200 >200 >200 >200 >200 17% 17% 17% 83% 83% 83% 83% 83% 17% 17% Male Male Female Male Female Female Male Male Female Female Male Female Ethnicity All Firms < >200 White 90% 88% 100% 50% 91% Asian/Pacific Islander 5% 0% 0% 25% 5% Black/African-American 2% 9% 0% 0% 1% Hispanic/Latino 2% 3% 0% 0% 2% American Indian/Alaska Native 0% 0% 0% 0% 0% Multi-ethnic 0% 0% 0% 0% 0% Other 1% 0% 0% 25% 1% Firm Demographics 2013 TRENDS 31

34 GENDER GENDER GENDER CPA Demographics by Firm Size 2012 GENDER GENDER All Firms <10 All Firms All Firms Gender <10 <10 All Firms All Firms <10 <10 60% 40% 51% 49% 60% 60% 40% 40% 51% 51% 49% 49% 60% 60% 40% 40% 51% 51% 49% 49% 81% 81% 81% 81% 81% % % 19% % 19% 67% 67% 67% 67% 67% 33% 33% 33% 33% 33% >200 >200 >200 >200 >200 Male 61% 61% 61% 61% 61% 39% 39% 39% 39% 39% Male Male FemaleMale Female Female Male Male Female Female Female Ethnicity All Firms < >200 White 86% 86% 100% 100% 85% Asian/Pacific Islander 8% 4% 0% 0% 8% Black/African-American 2% 3% 0% 0% 2% Hispanic/Latino 3% 6% 0% 0% 2% American Indian/Alaska Native 0% 0% 0% 0% 1% Multi-ethnic 1% 1% 0% 0% 1% Other 0% 0% 0% 7% 1% TRENDS Firm Demographics

35 Full-Time Employees Enrolled in Courses for CPA Eligibility 2012 Survey Question: How many full-time employees are currently attending classes in order to qualify for their CPA? Inconclusive Data >200 5, ,00 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 <10 < >200 >200 Firm Demographics 2013 TRENDS 33

36 CPA EXAMINATION NASBA, the AICPA and Prometric launched the international administration of the Uniform CPA Examination in Bahrain, Kuwait, Japan, Lebanon and the UAE in August 2011, and in Brazil in February 2012, to respond to global candidate demand and raise awareness of the U.S. CPA credential. The launch of the international exam was successful, helping to increase the numbers of U.S. CPAs worldwide. The three parties are exploring expansion opportunities in the near future. The AICPA Examinations team, with the oversight of the Board of Examiners, continues to monitor emerging accounting standards to maintain the currency of the exam. Recently, the Auditing Standards Board (ASB) issued its new Clarified U.S. Auditing Standards, which will impact the Auditing and Attestation (AUD) section of the exam beginning in 2013 and accounts for the most significant change to the AUD section in the last decade. Behind the scenes, the technology supporting the exam continues to improve, allowing the exam to incorporate changes in line with an increasingly dynamic profession. Above all, changes to the exam maintain the relevance required to protect the public interest. YEAR TOTAL NUMBER OF RESPONSES YEAR TOTAL NUMBER OF RESPONSES , , , , , , , , , , , , , , , , , , , , , , , , , * 44, , , , , , , , , , , , , , , , ,106 * 2004 represents the first year the exam was offered as a computer-based test. Prior to April 2004, the Uniform CPA Examination was administered twice a year in May and November in a paper-and-pencil format. Under the new format, Examinations are now administered continuously for a two-month window each quarter. FOOTNOTE: In January 2011, NASBA, the AICPA and Prometric implemented the most significant set of changes to the Uniform CPA Examination since the Exam was computerized in Content Specification Outlines (CSOs) were updated to reflect changes in the profession, including the addition of IFRS. New task-based simulation (TBS) questions were introduced, and exam section lengths and weightings were changed. Behind the scenes, the technology supporting the Exam was dramatically improved, allowing the Exam to incorporate changes in line with an increasingly dynamic profession. Above all, changes to the Exam maintain the relevance required to protect the public interest TRENDS Firm Demographics

37 APPENDIX 2013 TRENDS 35

38 Breakdown of Geographic Regions Eastern North Central Southern Pacific TRENDS Appendix

39 TRENDS IN SUPPLY SURVEY METHODOLOGY Survey Fielding A census of colleges and universities granting accounting degrees was invited to participate The AICPA extensively followed up with non-respondents to maximize the response rate Response Information Surveys were predominantly completed online; a paper copy response option was also available Analysis & Reporting Survey results have been weighted by the number of accounting faculty to reflect the entire population The margin of error at the 90% confidence level is +/-5.4% Regression equations were developed to forecast enrollment and graduation numbers The number of accounting faculty was used to predict enrollment and graduation Six regression equations were developed in total: an enrollment and graduation equation for each program (Bachelor s, Master s and Ph.D.) R squares were developed for each equation TRENDS IN DEMAND SURVEY METHODOLOGY Survey Fielding A census of public accounting firms was invited to participate The AICPA extensively followed up with non-respondents to maximize the response rate Response Information Surveys were predominantly completed online; a paper copy response option was also made available Analysis & Reporting Survey results have been weighted to be reflective of the entire public accounting population Results were weighted by the size of firms as determined by the number of AICPA members employed The margin of error at the 90% confidence level is +/-7.8% A regression equation was developed to forecast hiring The number of AICPA members employed at public accounting firms was used to forecast hiring The R square is.99

40 TRENDS