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Essay / Research Paper Abstract
This 3 page paper examines a scenario were qualified CPA’s are faced with increasing competition from non qualified tax advisers. The writer explains how this will impact in the firm using economic theory and then looks at the potential ethical issues for the firm when they respond to the changes and seek to cut costs. The bibliography cites 2 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TECPAcomp.rtf
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Unformatted sample text from the term paper:
which have a high individual net work may be seen as an attractive segment especially where there are high net worth individuals where fees for the services may be high.
In the past there was limited competition due to the specialised nature of the firm, but there have been changes and there is now increased competition. In any market
the way that suppliers are attracted to markets and the way prices are set and profits made will reflect the supply and demand conditions. To consider this we need to
look at the relationship between supply and demand. In any market there will be both supply and demand for goods or services, in this case tax advice services. Where
there is a demand that is greater than supply the price of the service will increase until there is a decrease in the level of demand as individuals choose not
to lay a higher service and/or more suppliers are attracted to the market as a result of higher profits, so that a new point of equilibrium will be reached where
the demand for the service and the supply are in balance (Nellis and Parker, 2006). Therefore, where there are limited supplies and demand that is in excess of the supplies
the prices will increase (Nellis and Parker, 2006). From a commercial perspective this will attract suppliers due to the increasing profits. This is what has occurred for the CPA tax
advisers; the market was profitable and attracted more competition. The competition has come in the form of software and non qualified advisers who may be seen as acceptable substitutes
for the fully qualified services. Increased supply, if not accompanied by proportional increased demand then there will emerge an excess of supply over demand (Nellis and Parker, 2006). Where
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