CPA2Biz Announces Improved Financial Results and Projects Break-Even Cash Flow at AICPA Fall 2003 Council Meeting
, Inc., the American Institute of Certified Public Accountant's (AICPA) marketing and technology provider, reported significantly improved financial results this week at the AICPA Fall 2003 Council meeting.
New York, NY, (PRWEB) October 29, 2003 - CPA2Biz, Inc., the American Institute of Certified Public Accountant's (AICPA) marketing and technology provider, reported significantly improved financial results this week at the AICPA Fall 2003 Council meeting.
For the year ending July 31, 2003, CPA2Biz reduced its operating loss by 90.5% from $33.8 million to $3.2 million. In addition based on many initiatives led by the new management team over the past year, CPA2Biz is now projecting a break-even cash flow for the coming year on revenues of more than $14 million.
| | - are very pleased that while we are able to bring our costs in order, we have also been able to significantly grow our customer base and online sales," said Erik Asgeirsson, CEO, CPA2Biz. "In the year ahead, we will continue to expand our services to CPAs and their clients with new programs like the recently announced CPA Partnership Program with Paychex."
- its third year of operation, CPA2Biz's mission of providing marketing and technology services to the AICPA and helping CPAs build stronger relationships with their clients is delivering positive results," stated Barry Melancon, President and CEO of the AICPA.
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Over the past year, CPA2Biz expanded its online customer base by 55% to over 160,000 users, which represents over 1/3 of the CPA profession. CPAs are also demonstrating increased confidence in the products, services, and usability of the CPA2Biz web site. A recent third party survey of online registered users demonstrated that 93% would recommend the CPA2Biz site to a colleague and rated the site as either excellent or satisfactory.
About CPA2Biz, Inc.
CPA2Biz offers a wide array of products and services such as continuing education and accounting & auditing literature for CPAs to fulfill their professional needs as well as a number of client-focused business solutions programs (e.g. payroll) which enable CPAs to build stronger relationships with their business clients or employers. Through its partnership with the American Institute of Certified Public Accountants (AICPA), CPA2Biz is the exclusive online and offline marketing agent for AICPA products and services. For more information, visit www.cpa2biz.com.
About AICPA
The American Institute of Certified Public Accountants is the national, professional organization of CPAs, with more than 340,000 members in business and industry, public practice, government, and education. It sets auditing standards for U.S. private companies and ethical standards for the accounting profession. For more information, visit www.aicpa.org.
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