NEW YORK--(BUSINESS WIRE)--The American Institute of CPAs (AICPA) will release the results for the fourth quarter of 2019 Personal Financial Satisfaction Index (PFSi), a quarterly economic gauge that measures the personal financial standing of a typical American, at 7:00 a.m. EST, Thursday, January 23.
The current state of Americans’ financial satisfaction is quite different from this time last decade. Recently, the PFSi has been hovering near its all-time high indicating that the average American has been feeling a strong sense of financial well-being. In contrast, entering the 2010’s many Americans were still reeling from the Great Recession. The Q4 index will provide an empirical measure of how the average American is feeling about their finances heading into the 2020’s and examine how their financial satisfaction today compares to a decade ago.
Reporters interested in the embargoed results, charts, and infographic, or to speak with a CPA financial planner should contact Jonathan Lynch at Jonathan.Lynch@aicpa-cima.com or 212-596-6033.
Additional information on the PFSi can be found at: AICPA.org/PFSi.
Personal Financial Satisfaction Index Methodology
The PFSi is a quarterly economic gauge that measures the personal financial standing of a typical American. The index is calculated as the Personal Financial Pleasure Index minus the Personal Financial Pain Index. These sub-indexes are each composed of four equally weighted factors that measure the growth of assets and opportunities in the case of the Pleasure Index, and the erosion of assets and opportunities in the case of the Pain Index.
Pleasure index factors include the PFS 750 Market Index, an AICPA proprietary stock index comprised of the 750 largest companies trading on the US Market. The additional components are the AICPA’s CPA Outlook Index, as well as Real Home Equity Per Capita and Job Openings Per Capita. The Pain index factors include inflation, personal taxes, loan delinquencies and underemployment.
About the AICPA’s PFP Division
The AICPA’s Personal Financial Planning (PFP) Section is the premier provider of information, tools, advocacy, and guidance for CPAs and other professionals who specialize in providing estate, tax, retirement, risk management, and investment planning advice to individuals, families, and business owners. The primary objective of the PFP Section is to support its members by providing resources that enable them to perform valuable PFP services in the highest professional manner.
CPA financial planners are held to the highest ethical standards and are uniquely able to integrate their extensive knowledge of tax and business planning with all areas of personal financial planning to provide objective and comprehensive guidance for their clients. The AICPA offers the Personal Financial Specialist (PFS) credential exclusively to CPAs who have demonstrated their expertise in personal financial planning through testing, experience and learning, enabling them to gain competence and confidence in PFP disciplines.
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 429,000 members in the United States and worldwide, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for its members and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, builds the pipeline of future talent and drives professional competency development to advance the vitality, relevance and quality of the profession.
About the Association of International Certified Professional Accountants
The Association of International Certified Professional Accountants (the Association) is the most influential body of professional accountants, combining the strengths of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA) to power opportunity, trust and prosperity for people, businesses and economies worldwide. It represents 657,000 members and students across 179 countries and territories in public and management accounting and advocates for the public interest and business sustainability on current and emerging issues. With broad reach, rigor and resources, the Association advances the reputation, employability and quality of CPAs, CGMAs and accounting and finance professionals globally.