Majority of CFOs confident in U.S. economy
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Fall 2013 CFO Survey
Spring 2013 CFO Survey
Fall 2012 CFO Survey
Summer 2012 CFO Survey
Fall 2011 CFO Survey
Spring 2011 CFO Survey
Grant Thornton LLP conducts its CFO Survey twice a year with CFOs and other senior financial executives across the United States. The spring 2014 survey took place between May 13 and June 4, with 1,038 CFOs and controllers participating.
The U.S. economy contracted in first quarter 2014 for the first time in three years. While first quarter data suggests that harsh winter conditions may have temporarily softened the nation’s economic progress, executives are increasingly confident that the next six months will be characterized by improving economic growth and stability. The latest survey results show that half (51%) of executives expect the nation’s economy to improve during the next six months.
When it comes to financial prospects of an executive's industry, their confidence continues to improve. Fifty-one percent of executives believe their industry's financial prospects will improve during the next six months, compared to 10% who believe it will worsen.
- When executives were asked about employment opportunities during the next six months, just under half (46%) said their company’s headcount would increase or significantly increase, while only 8% said it would decrease or significantly decrease
- The survey found that bonus and accelerated depreciation are the most important tax benefits for the majority (55%) of executives
- The survey results indicate that a large percentage of executives (75%) support the FASB initiative to provide simplified accounting alternatives for private companies
- The vast majority of small- and midcap companies (85%), as well as large-cap companies (87%) believe gradually lowering corporate income and franchise tax rates is the best way to generate economic growth
- For many CFOs, the top cybersecurity concerns are: (1) the potential for undetected breaches, (2) customer and client data privacy, and (3) unknown and identified risk