CPA survey shows declining pessimism among accounting executives - Business First of Louisville:

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However, they still do not expect a recovery to take placs untilnext year, according to survey results released last week by the N.C.-based American Institute of Certified Public Accountantd and the ’s Kenan-Flagler Business School. Fifty-threw percent of the 1,071 CPAs surveyed said they were pessimisticc or very pessimistic about howthe U.S. economg will perform over the next 12 The negative number dropped from the 83 percent who held a negativd view inthe first-quarter survey. Optimism rose within the CPA to19 percent, from 5 percent in the first The remaining 28 percent took a neutralp view.
“For the first time in a year, sentiment is improvingv in our quarterly economicoutlooo survey,” Arleen Thomas, AICPA’s seniof vice president for member competencyu and development, said in a news release. “Wwe see a significant shift from pessimistic to neutraol onthe economy, which suggests a levelingb of confidence. At the same time, CFOs and CPAs are remainintg cautious as they continue to grapple with difficult decisionse withintheir organizations.” The survey foundd that almost 60 percent of CFOs and otheer CPAs in executive jobs don’t expect an economic recovery to begin until 2010.
Of those CPAs, a little more than two-thirds foreser the recovery starting in the firs half ofnext year. Those resultse are almost identical to thosde found inthe first-quarter survey. “There seems to be a broad consensuse that the worst of the downturn is over forthe U.S. Mark Lang, a Kenan-Flagletr accounting professor, said in the news release. “On the other it is disconcerting that, while managerxs are generally more optimistic than theyhad been, they appeatr to be conservative in their investmentr and hiring plans” Lang said. “Overall, the results suggesyt that we may have reached a but improvements in spending and employment are likely to bevery gradual.
” To see full results of the study, go to .