Printer Friendly

Controllers gloomy over 1991 sales and profit outlook.

Although most corporate controllers expect the recession to end sometime in 1992 (see JofA, June 91, p. 16), an increasing number look for declining sales and earnings this year, according to the latest survey of the National Association of Accountants controllers council, conducted in April.

Of the 3,200 controllers polled, only 43% believe sales and profits for their companies will rise this year. In the previous survey, conducted in January, 53% expected a sales increase for 1991 and 44% forecast an earnings gain.

The less favorable outlook for sales and earnings is reflected in expectations for employment. Only 11% of the controllers said their companies would hire new employees in the next six months, compared to 22% in the previous survey. The number of controllers anticipating lower employment levels rose to 39%, versus 25% in the earlier poll. Half of the controllers expect employment levels to stay the same for the next six months.
COPYRIGHT 1991 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Journal of Accountancy
Date:Jul 1, 1991
Words:155
Previous Article:Sales tax rates rise as recession hits local budgets.
Next Article:Small businesses see quick end to recession.
Topics:


Related Articles
CPAs see fast start for business, problems later in 1990s.
Corporate controllers bullish for 1990-91.
Corporate controllers see only modest recovery ahead.
Business groups differ on economic outlook.
Bankers expect higher profits but slow business recovery.
Controllers bearish on 1992 outlook.
Controllers expect slow growth and higher profits.
20 YEARS AGO.
Hotels Experience Downturn.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters